§ 67. Mr. CHORLTONasked the Financial Secretary to the Treasury whether he has considered the resolution of the Manchester Chamber of Commerce, which has been sent to him, with reference to frozen remittances in countries like the Danubian States; and what steps he proposes 1237 to take to ensure that some clearing house or other scheme is brought into force as soon as possible to benefit the trade of this country?
§ Mr. COLVILLEI have been asked to reply. The resolution to which the hon. Member refers has been received. I am examining the whole question in consultation with business interests, but. I cannot at the moment make any further pronouncement.
§ Mr. CHORLTONCan my bon. Friend say if he has been in contact with the Manchester Chamber of Commerce, and will he take into account what has taken place in Germany and France with regard to clearing-house arrangements, whereby their traders have an advantage over ours?
§ Mr. COLVILLEAs regards the first part of the supplementary question, I am in consultation with the Manchester Chamber of Commerce, and that chamber has supplied useful information for our consideration. As regards the second part, I am aware of certain clearing schemes, but our information has not been that they are satisfactory, and would point out that the Board of Trade returns recently published show a slight increase in our exports to Austria and Hungary in the first two months of this year.
§ Sir A. M. SAMUELIs my hon. Friend aware that this is a matter which does not admit of any delay? If Manchester cannot obtain payment for goods already sold, it is impossible to continue to export cotton goods to South Eastern Europe.
§ Mr. COLVILLEI have pointed out that, in spite of all these difficulties, our export trade with these countries is being maintained.
§ Major NATHANIn view of the length of time that has elapsed since the matter was brought to the attention of the hon. Gentleman, when will he be in a position to make a definite statement?
§ Mr. COLVILLEI can only say that the matter is under close and constant review, in consultation with those very interests which are most affected, and that I will make a statement as soon as I possibly can.
§ Mr. HANNONIs it a fact that France and Germany have made clearinghouse arrangements with the Danubian States, and cannot something be done by this country?
§ Mr. COLVILLEThis country has maintained its exports with the Danubian countries, in spite of the difficulties, and our information does not show that these clearing schemes are working satisfactorily.