15. Mr. De la Bèreasked the President of the Board of Trade whether he will take steps to ensure that the superintendence, analysis, and arbitration of all security-stock wheat shall be carried out under the authority of the Port Corn Trade Association of the area in which such wheat is discharged?
§ Mr. StanleyIn view of the importance of maintaining a common standard in the supervision of the Government reserves of wheat which are held at a number of centres, I do not consider that it would be practicable to adopt my hon. Friend's suggestion. Arbitrations and analysis are provided for, in accordance with the general practice of the trade, under the rules of the London Corn Trade Association, and I am satisfied with the present arrangements.
Mr. De la BèreDoes not the right hon. Gentleman realise that the Port Corn Trade Association are a thoroughly competent body to carry out this work, and that they would be absolutely impartial?
§ Mr. StanleyYes, Sir. I have no doubt that the Association at the ports would be efficient, but there are a number of different ports concerned.
§ Mr. StanleyYes, Sir.
§ Lieut.-Colonel Acland-TroyteCan my right hon. Friend say what is meant by "all security-stock wheat"?
§ Mr. StanleyI think that the hon. Gentleman means by that phrase, the wheat purchased by the Government under the Essential Commodities Act.
16. Mr. De la Bèreasked the President of the Board of Trade by what method the superintendents who are supervising the Government's stocks of wheat are appointed?
§ Mr. StanleyThe firm of Cargo Superintendents who oversee the condition of the wheat in store were appointed by the Food (Defence Plans) Department, on the advice of the Committee assisting the Department.
Mr. De la BèreCan we have an assurance that these two superintendents who do this work are not in any way connected with one of the largest combines?
§ Mr. StanleyI have already said that the chairman of this Committee is an independent miller, and I have no doubt that he is satisfied with these appointments.
§ Mr. G. GriffithsDoes either of these superintendents live in Brussels?
17. Mr. De la Bèreasked the President of the Board of Trade whether he can give some assurance to the House that the price paid by the Government for the stocks of wheat which have been accumulated was approximately the market price at the time they were purchased; and whether he will say if, at the present time, these stocks, on realisation, would show profit or loss to the Government?
§ Mr. StanleyAll Government wheat has been purchased at the market prices current at the time of purchase. World prices of wheat have fallen by about 40 per cent. since April, 1938, when the initial purchases were made. It follows that if the reserve were sold at to-day's prices, there would be a loss. There is, however, no such intention.