HC Deb 18 November 1919 vol 121 c813
Mr. REMER

asked the Leader of the House whether -his attention has been called to the fall of the American sterling exchange this morning to $4.07; and, in view of the urgent necessity of action, what policy the Government propose to adopt?

Mr. BALDWIN

The answer to the first part of the question is in the affirmative. My right hon. Friend the Chancellor of the Exchequer has more than once, stated to the House that he did not think it wise to return to the policy of giving artificial support to the dollar exchange which was abandoned last March. He sees no necessity in present circumstances for reversing that decision.

Mr. REMER

Will my hon. Friend consider the possibility of adopting measures to check the importation of surplus manufactured goods?

Mr. BALDWIN

My right hon. Friend only received notice of this question at lunch time and as he is in bed to-day he has not yet had time to consider it.

Colonel WEDGWOOD

Does not the rate of exchange automatically restrict the importation of unnecessary articles?

Mr. BALDWIN

I believe that that is held by some people to be so.