Abstract
Following the German invasion of Czechoslovakia in March 1939, the Bank of England allowed £6,000,000 worth of gold belonging to the Czechoslovak National Bank to be transferred to the ownership of the Reichsbank. Despite the public controversy which followed disclosure of the transaction, it has not attracted the serious attention of historians. The archives, press reports and parliamentary debates dealing with both the transaction and the controversy bring to light aspects of the affair which have remained shrouded in mystery since 1939, and contribute significantly to our understanding of the complex relationship between financial and diplomatic appeasement.
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