§ 43. Sir FREDRIC WISEasked the President of the Board of Trade the estimated result of the first six months of 1925 of the trade balances of the country after invisible exports have paid for the excess of imports over exports?
§ Sir P. CUNLIFFE-LISTERFor the first six months of 1925 the recorded value of the imports of merchandise, together with that of bullion and specie, exceeded 843 the value of exports of the same descriptions of goods by about £206,000,000. The information available does not suffice for monthly estimates of the amounts accruing in respect of the returns on investments abroad, the earnings of our mercantile marine, and the sums due on account of insurance and banking business done for overseas account, and other items included in the invisible exports. The inclusion or exclusion of a particular month may affect the monetary position to a serious extent. Our position in regard to payments in respect of our debt to America has also to be taken into account.