§ 72. Mr. DAVID MASONasked the Chancellor of the Exchequer to whom the 1027 so-called adverse balance of payments of £113,000,000 for the year 1931 was payable; and how is it paid?
Mr. CHAMBERLAINI do not think these subjects can suitably be dealt with by Parliamentary question and answer. Broadly the position is that, since our imports of goods exceeded the whole of our exports visible and invisible, payment must have been due to the countries which sent us goods. Payment was in part made by the export of gold, but the position must have been adjusted in the main by a diminution in net British capital assets abroad.
§ Sir STAFFORD CRIPPSWill the right hon. Gentleman have a Paper laid before the House showing how the £113,600,000 has been calculated?
§ Sir ARTHUR MICHAEL SAMUELDoes my right hon. Friend accept the figure of £113,000,000 nett, in view of the fact that £33,000,000 in gold was exported nett, as shown by the Trade and Navigation returns just, published by the Board of Trade?
§ Mr. H. WILLIAMSIs it not the case that this estimate has been published annually for many years in the Board of Trade Journal and could not the right hon. Gentleman get a copy?
§ Mr. MASONIs it not the ease that when you are dealing with a creditor country it is proper and right to have an excess of imports over exports?