§ 8. Sir A. FELLasked the President of the Board of Trade if his attention has been called to the increased imports from the United States of America during the month of September and the increased balance of trade against this country; and if he will examine the nature of the imports and see whether much of them could be done without or procured from some other source, and consider whether this country is prepared to make sacrifices and suffer inconveniences if the result would be to raise the value of the £, and so cheapen the cost of living?
§ Sir R. HORNEI have examined the figures of our foreign trade with care, but I do not find that the excess of import has been growing during the current year as my hon. Friend appears to suggest. On the contrary, it has been decreasing. The large volume of imports from the United States of America during September, to which the hon. Gentleman refers, mainly consists of the usual seasonal importation of wheat and flour Attention has been given to the problem of procuring necessary imports in the way most advantageous to our general trade position, but my hon. Friend will doubt- 815 less see that a transference of purchases from one market to another, if not carried out by traders in their own interests, would involve a very onerous degree of Government control.
§ Sir A. FELLCould not the very large purchases the Government has made in the Colonies and other places be continued or increased instead of buying these things in America, so as to improve the exchange, which there is no doubt is against us?
§ Sir R. HORNEOur purchases, as far as the Government is concerned, have been made in the most fruitful markets.