HC Deb 02 May 1944 vol 399 cc1208-9
Mr. Ellis Smith

I desire to ask your permission, Mr. Speaker, to move the Adjournment of the House, in order to direct attention to a matter of extreme and urgent public importance. I know that at this stage I am not allowed to argue the matter, and can state only the bare facts, but I want to place them before you for your consideration. The matter is as follows: Shares valued at 6s. 8d. in a certain shipping company in this country are now being gambled with and speculation is taking place, and offers have been made for the 6s. 8d. shares to the extent of—

Mr. Speaker

The hon. Member is now stating the whole of his case.

Mr. Ellis Smith

With due respect, Sir, I shall be as brief as possible, but in order that you can give consideration to the seriousness and urgency of the matter it is necessary that I should state it within as narrow limits as possible, giving the bare facts.

Mr. Speaker

The hon. Member has written to me, giving the bare facts. Now he is only entitled to ask for my answer.

Mr. Ellis Smith

I wrote to you, Sir, because I thought it was elementary countesy, in view of the serious issues that I wish to raise. Therefore, what I want to ask now is whether you have given consideration to the statement which I sent to you, and whether you will bear in mind that if it is right to take action against one section of the community, then consideration should be given to these facts by the Government.

Mr. Speaker

The hon. Member has written to me, and he is now asking permission to move the Adjournment of the House upon a matter of urgent public importance. He wishes to draw attention to the fact that certain shares of Messrs. Lamport and Holt have increased in value on the Stock Exchange, and therefore that this speculation should be stopped. As a matter of fact, it is out of Order to raise the matter at all, because the Stock Exchange is not represented by any Minister, and no Minister can answer. In point of fact, one cannot put down Questions on the Paper about the proceedings on the Stock Exchange because no Minister can answer them. Therefore, I am afraid that the hon. Member's case must fall.

Mr. Ellis Smith

I would like to ask further advice from you, Sir. In view of the fact that this country is involved in total war and that the whole of our resources, so far as the ordinary people are concerned, have been put into the pool, and in view of the effect of this speculation on our war effort, may I ask what steps can be taken to bring pressure to bear on the Government to deal with such speculation and gambling?

Mr. Speaker

I cannot advise the hon. Member about that, except to suggest that he might put a Motion on the Paper. Otherwise, I do not know how the matter could be discussed, since no Minister can answer a Question on the subject.