§ 5. Mr. Osborneasked the President of the Board of Trade, since our stocks of raw wool are 797,000,000 lbs. at home and 2,290,000,000 lbs. abroad, exclusive of quantities at port and in transit, why some of these surplus stocks cannot be exchanged for timber and lead from Austria and silk from Italy, as both countries are anxious to make the exchange.
§ Sir S. CrippsHis Majesty's Government are negotiating for the purchase of timber from Austria, and would be interested in obtaining any supplies of lead that might be available. Austrian exporters would be able to use the sterling thus obtained to make purchases of any needed goods available in the sterling area, and not only wool. Silk is now imported on private account, but I understand that the grades which we need have not so far been available from Italy at prices attractive to our importers.
§ Mr. OsborneIs the right hon. and learned Gentleman aware that at least 15,000 standards of timber in Austria, cut 1650 to English specifications, have been waiting to come here, and that they will take our wool? Why is there all this delay, because it has been hanging fire now for months? Will he do something quickly?
§ Sir S. CrippsThere is a delay, but arrangements have to be made as regards financial rearrangement with Austria, and those have not yet been completed.