§ 93. Mr. CHARLES PRICEasked the Home Secretary whether his attention has been drawn to a representative meeting 1317 of sugar-using manufacturers held in London on Monday, at which it was stated that His Majesty's Government are asking from 5s. to 6s. per hundredweight more for sugar than the world's price, as shown by the American market; and whether His Majesty's Government can see their way to supply sugar at a natural price, leaving the nation as a whole to bear whatever loss there may be on the purchases made by the Royal Commission on the sugar supply?
Mr. RUNCIMANMy attention has been drawn to the report of the meeting in question. I am informed that the difference between the price of sugar in the American market and that charged by the Royal Commission is not so great as stated. There have been remarkable fluctuations in the price of sugar in the American market since the purchases were made by the Government—for instance, at one time raw sugar was selling in New York at 24s. 9d. per hundredweight, nearly double the present price. It would be impossible to adopt the hon. Member's suggestion, owing to the difficulty of raising the price of Government sugar to follow the fluctuations of the American market up as well as down.
§ Mr. PRICEIf it is known that there is a market at that price will the right hon. Gentleman give a rebate on the export of these sugar goods?
§ 108. Mr. HINDSasked whether the sugar acquired by the Government is insured against loss by fire; and, if not, having regard to the values represented by the stocks of sugar stored in the various ports and particularly in the London docks, whether he will consider the desirability, in the interests of the community, of the same being so insured; and has he considered this matter from the point of view of maintaining, as far as possible, the customary usages of business in regard to all such temporary purchases made by the Government on behalf of the nation?
Mr. RUNCIMANIn accordance with the established policy in respect of Government property, the stocks of sugar warehoused by the Royal Commission are not being insured against fire, and I am unable to see any sufficient reason for departing from that policy.