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There have been further repercussions of the Czecho- Slovakian gold transfer, and the retention in Spain of Italian war material. It semed to many people astonishing that the Labour Front Bench did not make more of Mr. Chamber- lain's confession that he knew, before the Anglo-Italian Agreement was signed, that such a future for Italian muni- tions was possible. What is even more astonishing is that Mr. Chamberlain, himself, did not say anything at all about it, because he must surely have realised that sooner or later there would be a disclosure, with the inevitable result of calling his own good faith into question. As for Sir John Simon's defence of the two British directors of the B.I.S., the whole House grew increasingly restive at his obvious determination not to answer the questions which were being put to him. Quite a number of Government supporters were of the opinion that, if the Chancellor is not called upon to answer either for the Bank of England or for the B.I.S., he certainly need not condone or seek to justify action which is contrary to British policy. Another incident of this nature, and many Tories will adopt yet one more Socialist proposal and advocate Government control over the Bank of England. If this does happen, Mr. Montagu Norman will have accom- plished what many people thought the Labour Party would never be able to do.
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