§ 59. Mr. E. SMITHasked the Chancellor of the Exchequer the average monthly amount of commercial credits that have been granted by British subjects to Germany during the past three years; and, in view of the effect that the 1367 frozen credits in Germany have on the state of trade in this country, will he make further efforts to put an end to them?
Mr. CHAMBERLAINIn reply to the first part of the question, I cannot add anything to the reply given to the hon. Member on 23rd March and to the hon. Members for North Tottenham (Mr. R. C. Morrison) and Ardwick (Mr. J. Henderson) on 30th April. Since every sale of British goods on terms of payment other than immediate payment in cash involves the grant of some form of commercial credit, it is in the nature of the case not possible to state the average monthly amount of commercial credits granted to Germany during the past three years. As regards the second part of the question, I am not clear what frozen credits the hon. Member has in mind The standstill credits have of course been in existence for a longer period than the three years which he names. If he has in mind the frozen trade debts which existed prior to the conclusion of the Anglo-German Payments Agreement of 1st November, 1934, the answer is that their liquidation is now practically complete. So far as I am aware, none of the commercial credits granted to Germany during the past three years are now frozen.
§ Mr. SMITHIs the Chancellor aware of the very serious statement made by the chairman of the Unilever Company that ships were being built in Germany in order to bring food to this country?