§ 8. Mr. HERBERT WILLIAMSasked the President of the Board of Trade if his attention has been drawn to the currency regulations issued on 1st March by the German Ministry of Trade, whereby German exporters are enabled to quote very low prices for German goods because of the provision whereby they are permitted to recoup themselves by using 60 per cent. of the foreign currency in which they are paid for the purchase of German bonds in London and New York, and their subsequent sale in Germany on terms which afford them a large profit; and what action he proposes to take to protect British interests?
§ Mr. RUNCIMANUnder the German regulations for controlling foreign exchange, permission has for some time past been obtainable in special cases to employ part of the proceeds of exports in the manner indicated in the question, and I understand that the conditions applicable were somewhat modified at the beginning of March. The position is being carefully watched.