§ 71. Mr. Arthur Hendersonasked the President of the Board of Trade the value 192 of the raw material bought by Germany from the United Kingdom since the signing of the Anglo-German Trade Agreement of 1934; and what proportion in value could be utilised for armament purposes?
§ Mr. StanleyDuring the period November, 1934, to June, 1939,inclusive, the declared value of exports from the United Kingdom to Germany of goods classified as "Raw materials and articles mainly unmanufactured" amounted to about £54,000,000, including re-exports valued at about £21,000,000. As regards the second part of the question, it is not possible to distinguish the exports of materials for the manufacture of armaments from those for other manufactures.
§ Mr. GallacherDoes that mean that all of the material could have been used for armaments?
§ Mr. StanleyIf the. hon. Member thinks that coal, which forms the great bulk of this material, could be used for the manufacture of armaments, the answer is in the affirmative.
§ 72. Mr. A. Hendersonasked the President of the Board of Trade the total of free sterling obtained by Germany through her trade with the United Kingdom since the signing of the Anglo-German Trade Agreement of 1934?
§ Mr. StanleyThe whole of the sterling from German exports to the United Kingdom is at the free disposal of Germany subject to the obligations undertaken in the Anglo-German Payments and Transfer Agreements. It is estimated that between 1st November, 1934, and 31st May, 1939, Germany received about £146,000,000 from her exports to the United Kingdom. During this period her Payments Agreement obligations have required the provision of sterling for trade payments to an amount of about £87,000,000, but in fact United Kingdom exports and re-exports. have absorbed at least £135,000,000. Germany has also certain financial obligations which, together with miscellaneous financial. and commercial payments of unknown amount, would absorb most of the balance