§ 9. Mr. LAMBERTasked the President of the Board of Trade how far the present excessive cost of necessaries of life was caused by a shortage of supply or by an inflation of the currency; and whether a statement showing the supply of wheat, meat, wool, cotton, hides, and timber in pre-war years and the present year could be given?
§ Sir A. GEDDESIt is impossible to state at all precisely the extent to which 8 the present cost of necessaries is due to conditions of supply on the one hand and currency causes on the other hand. With, reference to the second part of the question, I will have printed in the OFFICIAL REPORT information with reference to those of the commodities named for which it is practicable to furnish figures of world production. Even for these, information regarding the production of the current, year is not yet to hand for a considerable part of the world.
§ Colonel WEDGWOODHas the right hon Gentleman considered the effect upon the inflation of prices of the non-funding of the floating debt and the unlimited credit thereby created?
§ Sir A. GEDDESYes, I have considered that among many other influences.
§ Colonel WEDGWOODIs not that the chief cause?
§ Sir A. GEDDESI could not agree.
§ Lord R. CECILDoes the right hon. Gentleman not think it desirable to have a real expert inquiry into the point raised in the first part of this question, and to lay before the House some real definite statement as to what is the Government's view as to the inflation of the currency, and a statement as to what course it is proposed to take?
§ Sir A. GEDDESI am not quite sure in my own mind what my Noble Friend refers to when he speaks of "expert inquiry." In so far as inquiry can be made by experts of the Board of Trade, that is now proceeding.
§ Colonel WEDGWOODIs it not a question to be considered apart from the interest of the bankers concerned—as to whether this creation of public credit should be indefinitely extended?
§ Sir A. GEDDESPerhaps the hon. and gallant Member will put down a question, on the subject.
§ Lieut. - Commander KENWORTHYMay I ask whether the findings of the expert committee of the Board of Trade will be made public?
§ Sir A. GEDDESIf the hon. and gallant Member said a "committee" he was wrong. It is the experts of the Board of Trade working as experts in the Board of Trade. In the usual way, any information 9 which is really worth publishing, and sufficiently reliable to be published, will be published.