§ 3 and 4. Mr. HANNONasked the President of the Board of Trade (1) whether he can submit a statement showing the stocks of electrolytic or other copper in this country at the close of the year 1925 and last year respectively; and if he is satisfied that in the event of national emergency arising His Majesty's Government have available adequate supplies of copper:
(2) whether, having regard to the vital importance of copper in the provision of munitions of war and the fact that the production of copper is now completely under foreign control, and seeing that at the instance of this group the price of copper has been increased from £67 per ton to £84 per ton during the past 12 months, whether His Majesty's Government is prepared to encourage firms in this country to undertake the smelting of copper ore and the refining of copper for essential national purposes?
§ Sir P. CUNLIFFE-LISTERStocks of copper in public warehouses in the United Kingdom, as recorded by the 955 London Metal Exchange, were 56,047 tons at 30th December, 1925, and 6,801 tons on 29th December, 1928. I have no information as to stocks in private warehouses or in manufacturers' hands. The position with regard to prices and stocks of copper will be watched, and I would refer my hon. Friend to the reply which I gave on 14th June, 1927, to my right hon. Friend the Member for Aston (Sir E. Cecil), a copy of which I am sending to him.
§ Mr. HANNONDoes not my right hon. Friend think that the situation in this country in regard to supplies of copper would be very serious if anything were to happen—if, say, a war were to come on; and would he be good enough to answer the last part of Question No. 4, as to whether the Government are prepared to encourage the smelting of copper in this country?
§ Sir P. CUNLIFFE-LISTERPerhaps my hon. Friend will refer to the answer I gave to my right hon. Friend the Member for Aston (Sir E. Cecil) when the question was raised before.
§ Lieut.-Commander KENWORTHYDoes the right hon. Gentleman agree with the premise in Question No. 4, that the production of copper is now completely under foreign control? Is that a fact?
§ Sir P. CUNLIFFE-LISTERI have stated in my answer such information as I have; I should not like to answer that particular question without further notice.
§ Lieut.-Commander KENWORTHYDoes not the right hon. Gentleman see that he has had notice, and that it is a very serious statement to make? Might we know whether it is true or not? Surely the Board of Trade knows?
§ Mr. WELLOCKDo not these financial ramps prove the necessity for State control?
§ Sir P. CUNLIFFE-LISTERI do not quite see, if a raw material happens to be largely owned by foreigners in foreign countries outside Great Britain, how a system of nationalisation in this country is going to help.
§ Lieut.-Commander KENWORTHYrose.
§ Mr. SPEAKERWe cannot enter into a discussion on that subject.