§ 8. Lieut. - Commander KENWORTHY
asked the President of the Board of Trade if he has received a resolution passed by the Empire Congress of the Chambers of Commerce drawing attention to the great handicap to trade between Great Britain, Australia, New Zealand and South Africa, and vice versa, owing to the rate of exchange; if he is aware that this rate of exchange is equal to an export tax on wool and other commodities from these countries of 3 to 3½ per cent.; and whether any steps can be taken in the matter?
The resolution referred to has not yet reached me. As I indicated in a reply to a question asked on 14th May, by the hon. Member for the Ilford Division (a copy of which I am sending the hon. and gallant Member), my attention has been directed to the recent level of the exchanges referred to. The question of overseas exchange was fully discussed at the Imperial Economic Conference, and I understand that the Commonwealth Government have recently taken action in the direction there recommended. It is not a matter with which it is within my power to deal.
§ Lieut.-Colonel JAMES
Is it a fact that the right hon. Gentleman has received a communication from the Dominions in 189 regard to other important matters at the Economic Conference which have been turned down?