§ 6. Sir W. Smithersasked the President of the Board of Trade whether his attention has been called to the fact that the closing of the Liverpool Cotton Exchange has been instrumental in the reopening 1583 of the Bremen cotton market; and what steps he proposes to take to prevent this business being lost to Britain.
§ Mr. MarquandThe facilities of the Exchange are being utilised by the military Government for the distribution of certain quantities of cotton which are being imported into Germany by the United States authorities for spinning in the American zone, but there is no question of the resumption of purchasing abroad on private account by members of the Bremen Cotton Exchange or of the reopening of that Exchange.
§ Sir W. SmithersIs not the hon. Gentleman aware that the closing of the Liverpool Cotton Exchange has resulted in old established and valuable business being transferred to foreign countries, with a fatal loss of invisible exports to this country?
§ Mr. MarquandAll these questions were fully considered during the Debate, and I see no reason for a change of opinion.
§ Mr. KirkwoodIs it not the case that this House decided, by an overwhelming majority, that this institution should be closed down?
§ Mr. MarplesWill the hon. Gentleman consider consulting members of the Liverpool Cotton Asociation to see whether the foreign business formerly done by the Liverpool Cotton Exchange could be saved to this country, and will he consider some method of doing this?
§ Mr. MarquandThat subject has been considered very thoroughly by the Liverpool Cotton Association, and I anticipate that the Lord President of the Council will be announcing the Government's decision on the matter before very long.