§ COLONEL DENNY (Kilmarnock Burghs)To ask the President of the Board of Trade whether figures recently furnished by the Board of Trade, showing the value of the exports of British produce and re-exports of foreign and colonial produce, include the freights to ports of destination; if not, can he furnish an estimate of what such freight would amount to in each of the periods, and how much of it was earned by the British ships; and would he also say whether such freight, where earned by British ships, should be regarded as an export from this country.
(Answered by Mr. Gerald Balfour.) As stated in the official trade accounts, the recorded values of our exports of British produce and of re-exports of foreign and colonial produce are the "free on board" values, and consequently do not include the cost of freight from United Kingdom ports to the ports of destination. The answer to the second part of the Question is in the negative. In my opinion, the earnings of British shipping must be
† See (4) Debates, cii., 28.688 regarded as an offset in considering the apparent excess of our imports over our exports, but the question is one on which my hon. friend is in as good a position to form a judgment as I am.