§ 93. Mr. SEDDONasked the President of the Board of Trade if he is aware that the cost of Australian butter has risen in the following order: 1st March 130s. per cwt., 9th March 133s. per cwt., 16th March 144s. per cwt., 23rd March 163s. per cwt., and 30th March 184s. per cwt., and this notwithstanding the fact that 500,000 boxes, equal to 250,000 cwts., considerably over normal, entered the Port of London this month; and whether, seeing that this increase in price in this staple article of food, which is still rising, is being cornered by a financial ring, thereby creating profiteering, which is adding to the increased cost of living in this country, with falling rates of wages, he will state what action he proposes to take in the matter?
§ Sir W. MITCHELL-THOMSONI am aware of the substantial rise which has taken place during March in the wholesale price of Australasian butter. While the receipts of such butter in the Port of London have been large, as stated in the question, the shipments to the Continent have also been unusually large. Full results for March are not yet available, but in February the re-exports were so large that the quantity retained in the United Kingdom was less than in February last year. The information at my disposal does not confirm the assertions in the latter part of the question.
§ Mr. SEDDONIs the hon. Gentleman aware that this is being sent out in parcels from day to day, but each day sees an increase in price from the same stock?
§ Sir W. MITCHELL-THOMSONNo, I am not aware of that, and such information as I have does not go to confirm it. I may observe that owing, on the one hand, to the competition of the multiple shops in selling, and, on the other hand, to the fact that every rise in price tends to throw in more margarine as a substitute, if there is one article it is very difficult and almost impossible to corner it is butter.