7. Mr. GORDON HARVEYasked the Chancellor of the Exchequer if it has been brought to his notice that the holders of and merchants dealing in American cotton in Liverpool have combined to fix the price of the stock in that port at an artificial value, and that they are acting together to prevent new importations; whether he is aware that the price fixed by the combination is 50 per cent. above the price quoted in the United States, and that business cannot be resumed with the Far East nor the mills started until a national level of prices is attained; and whether, failing the resumption of importations by the ordinary merchants, he can do anything, in conjunction with British and American banks, to assist in bringing to this country a supply of the raw material essential to the Lancashire cotton trade?
The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr. Robertson)My right hon. Friend has asked me to answer this question. The Government are giving their most careful attention to the whole cotton position, which they recognise to be a matter of the gravest importance. The representations of my hon. Friend are being investigated, and meantime I would prefer not to make any definite statement.