§ 34. Lieut.-Commander KENWORTHYasked the President of the Board of Trade what were the total figures of the German imports and exports for the month of June last, reduced to sterling?
§ Mr. W. GRAHAMDuring the month of June, 1931, the value of the imports for home consumption into Germany, converted into sterling at the approximate par rate of exchange, amounted to £29,730,000 and domestic exports to £36,550,000, including deliveries on account of Reparations valued at £1,630,000.
§ Lieut. - Commander KENWORTHYDoes not this show a very heavy trade balance in favour of Germany—a very large excess of exports over imports?
§ Mr. GRAHAMNo doubt there is a balance, but I need not warn my hon and gallant Friend against making deductions.
§ Mr. KIRKWOODDo not these figures indicate that Britain is the best, customer of Germany?
§ Mr. GRAHAMThe figures relate to all German trade and not merely the trade with this country.
§ 56. Sir NICHOLAS GRATTAN-DOYLEasked the Secretary to the Overseas Trade Department whether he can give figures for the first six months of 1931 and 1930 of transactions in respect of exports to Germany passing through the Export Credits Department; and whether the terms offered in respect of the export trade to Germany are as favourable as those in respect of exports to Soviet Russia?
Mr. GILLET (Secretary, Overseas Trade Department)During the first six months of 1930 the Export Credits 1228 Guarantee Department contracted to guarantee a proportion of credits amounting to £154,828 in connection with exports to Germany. The corresponding amount for the first six months of 1931 was £90,013. The terms upon which guarantees are given, whether for Germany, Soviet Russia or other countries, vary from case to case and from time to time, and it is impossible to make comparisons between the facilities given in different circumstances for different countries.
§ Sir N. GRATTAN-DOYLECan the hon. Gentleman say whether the facilities granted to Soviet Russia are greater than those granted to Germany?
§ Mr. GILLETTNo, I think that it will be quite impossible for me to answer that question, especially at the present time.
§ Mr. C. WILLIAMSI take it that we can rely upon the Government always to favour Russia, if possible.
§ 57. Sir N. GRATTAN-DOYLEasked the Secretary to the Overseas Trade Department whether he has any information which will show what has been the effect of the present financial crisis in Germany on the export trade from Great Britain to that country?
§ Mr. GILLETTI am afraid that at this stage it is too early to form an opinion on the matter.