§ 6. Mr. REMER
asked the Parliamentary Secretary to the Overseas Trade Department whether his attention has been called to the complete stoppage of exports from the United Kingdom to Australia through the inability of Australasian banks to discount British drafts even when endorsed by English banks; and whether, in view of the serious effect this stoppage must have on our foreign exchanges and on employment, he will take steps to remedy this state of affairs?
§ Mr. KELLAWAY (Secretary, Department of Overseas Trade)
While I cannot accept the statement that there has been a complete stoppage of exports from the United Kingdom to Australia, my attention has been drawn to the difficulty referred to by my hon. Friend. I have been in consultation with the Treasury, and I am advised that there is no action which His Majesty's Government could usefully take. I understand that the difficulty is engaging the attention of the Commonwealth Government.
§ Mr. A. M. SAMUEL
Would not the obvious method of meeting this difficulty be to suggest to the London branches of the Australasian banks that they should offer bettor terms for funds in London?
§ Mr. KELLAWAY
Wherever action can be properly taken by my Department it is taken. This is a case where there is no power in my Department to take action. Representations of the kind suggested are hardly necessary, they are obvious.
|EXPORTS of Cotton Piece Goods, the Produce and Manufacture of the United Kingdom, registered during the first nine months of each of the years 1913, 1914 and 1920.|
|Cotton Piece Goods.||Quantities.||Value—Thousand £.|
|1913—Million Yards.||1914—Million Yards.||1920—Million Sq. Yards.||1913.||1914.||1920.|
|Grey or unbleached||…||1,790||1,647||810||20,715||18,856||42,875|
|Dyed or manufactured of dyed yarn.||1,070||927||912||19,705||17,813||84,618|
|Note.—The figures as to quantities for the first nine months of 1913 and 1914 are not directly comparable with those for the first nice months of 1920. Particulars of quantities were required in terms of linear yards prior to 1920, and in terms of square yards from 1st January, 1920. The average width of the various descriptions of piece goods has not been ascertained.|