§ 70. Mr. H. G. WILLIAMSasked the President of the Board of Trade whether he will furnish a statement showing the c.i.f. value of the imports from Argentina. in 1935, the value of the sterling credits accruing therefrom to Argentina, and the particulars of the disposition of those sterling credits under the provisions of the trade agreement?
§ Captain WALLACEThe declared value of the imports recorded as consigned from Argentina in 1935 was £43,995,000. Subject to certain adjustments which are under discussion, the amount of sterling allocated to the United Kingdom exchange quota during the year was £32,903,000. This amount was disposed as follows: Service of public debt, £6,107,000; payments for imports from United Kingdom. £18,579,000; and financial and miscellaneous services, £7,907,000. The balance has yet to be distributed.
§ Mr. WILLIAMSIs my hon. and gallant Friend quite satisfied that goods worth £43,000,000 when they reach this country were only worth £32,000,000 when they left the Argentine?
§ Captain WALLACEIt is only fair to say that insurance and freight represent a great part of the difference.
§ Mr. WILLIAMSCan my hon. and gallant Friend say why the insurance and freight from the Argentine is greater than from any other country the same distance away?
§ Captain WALLACENot without notice.