§ 5. Mr. SMITHERSasked the President of the Board of Trade whether, in view of the fact that Germany and Italy demand gold deposits as security for commercial transactions with the Soviet Government, he will insist on a similar policy being pursued in transactions with this country?
§ Mr. RUNCIMANSo far as I am aware, neither Germany or Italy requires gold deposits as security for commercial transactions with the Soviet Government.
§ 6. Mr. SMITHERSasked the President of the Board of Trade what is approximately the amount of the Russian trade, balance in this country?
§ Mr. RUNCIMANThe excess of imports over exports of merchandise into and from the United Kingdom during the year 1931 in the trade with the Soviet Union, representing the visible trade balance, was £23,134,518. Sufficient information is not available to enable any estimate to be formed regarding the amount of the invisible items in the balance of trade.
§ Mr. SMITHERSIn view of those figures, does the right hon. Gentleman still consider it necessary to guarantee credits under the Export Credits Scheme?
§ Mr. RUNCIMANThe whole subject is at present under review, and I cannot make any statement at the present moment.
§ Mr. THORNEIs there any other country that treats Russia in the same way?
§ Mr. RUNCIMANYes; the position of Russian trade is in a department entirely by itself.
§ Mr. MARJORIBANKSAre we to understand that the Government are divided on this matter?
Viscountess ASTORAre we to understand that it is the Government's business to get what markets they can for British goods?