§ 66. Colonel Ponsonbyasked the President of the Board of Trade, whether, in view of the loss of £750,000 made by His Majesty's Government in the purchase of tobacco to assist the Greek Government, he will publish in the Official Report a list of commodities purchased from other countries in similar circumstances together with the resulting loss or profit.
§ Mr. BelcherThe purchase of tobacco was a special one which was made in response to a pressing appeal from the Greek Government for assistance in the rehabilitation of the Greek economy. There have been no comparable purchases from other countries.
§ Colonel PonsonbyWould it not have been better to send a gift of £750,000 instead of acting in this roundabout way by purchasing tobacco?
§ Mr. BelcherI should hardly think so. I should have thought that from this country's point of view it was far better to buy something than to give something away and to get nothing in return.
§ Mr. LipsonWas it not possible to avoid this loss by selling the tobacco?
§ Mr. BelcherApparently not.