§ 51. Mr. BOOTHBYasked the Chancellor of the Exchequer whether he proposes to take any action designed to check the present fall in world commodity prices?
§ Mr. P. SNOWDENI would refer the hon. Member to the reply which I gave to a question by the hon. and gallant Member for Bethnal Green North-East (Major Nathan) on the 27th November.
§ Mr. BOOTHBYIs it not a fact that if the present fall in commodity prices continues for another six months, a situation of grave emergency will arise, and in these circumstances does not the right hon. Gentleman think that the time has now come when he ought to take some initiative in order to deal with the question?
§ Mr. SNOWDENThis is a matter which is always under consideration, and we shall do what we think is best in the circumstances.
§ 57. Major NATHANasked the Chancellor of the Exchequer whether he has taken, or proposes to take, any steps with a view to securing agreement between authorities in all important countries as to the cause of the recent fall in world prices, and as to the extent to which this fall can be, and should be, counteracted by monetary adjustments?
§ Mr. P. SNOWDENThese matters are under the consideration of the Committee of the League of Nations. Obviously, the wise course is to await their report, which I hope will not be long delayed.