§ 44. Mr. CONNOLLYasked the Chancellor of the Exchequer the present internal, external, and nominal values, respectively, of the German mark?
Mr. GUINNESSThe value of the present German mark is defined in terms of gold at 2,790 marks to a kilogramme of fine gold. Its actual value, as tested by the foreign exchange market, coincides very closely with the above Mint par. According to the official index number for last February, internal wholesale prices in Germany were then 36½ per cent. above the level of 1913, an increase less than the average world increase. But owing to changes in German import duties, particularly on wheat since that date, it is not possible to compare this figure without qualification with the increases elsewhere.
Captain BENNDoes the right hon. Gentleman mean that the import duties have caused prices to rise in Germany?