HC Deb 27 November 1906 vol 165 cc1397-8
MR. FIELD (Dublin, St. Patrick)

To ask the President of the Board of Trade whether he is aware that, owing to the decline in American cotton due to an organised bear raid in options and futures on behalf of American and British gamblers on the United States and Liver- pool Cotton Exchanges, the American planters have started a trust scheme, under the name of the Southern Cotton Company, with an authorised capital of £2,000,000, with the privilege of increasing it to £20,000,000, in order to fight these capitalistic syndicates as well as for cornering cotton; and, if so, will he say what steps the Government intends to take to checkmate this American trust, in view of its effect upon the Lancashire cotton and allied industries, and the thirteen millions of workpeople directly and indirectly dependent upon them.

(Answered by Mr. Kearley.) The Board of Trade have seen reports to the effect that a scheme is being organised in America by persons interested in the Southern Cotton Association to regulate the price of cotton by means of storage and gradual sale. Developments in connection with the scheme will, of course, be carefully watched, but the Board do not understand that the Lancashire cotton trade are at present greatly alarmed.