§ Mr. FIELDasked the Chancellor of the Exchequer whether he is aware that in the United States and Canada, where the prominent Wall Street and Canadian operators have been on the bull side, the result is record high values in most securities as against low record values for certain British securities where the prominent international operators on the London Stock Exchange have been bears for years; and whether he will have inquiries made into the cause of such gambling operations and consider the necessity of instituting legislation to protect legitimate speculation and bonâ fide buyers from the evil results arising out of international gambling in futures and options?
§ Mr. LLOYD GEORGEI would refer the hon. Member to the answer given by my right hon. Friend the Prime Minister, to his question on a similar subject of the 5th March last, to which I have nothing to add.
§ Mr. FIELDasked the Chancellor of the Exchequer whether he is aware that, notwithstanding a record volume of British trade for 1911 and 1912, the depreciation is from 30 to 65 per cent. in the values since 1897 of Consols, gilt-edged, railway, and other securities which directly come under the influence of international option and future gambling, while limited joint stock bank, insurance, assurance, and other shares which are not internationally gambled in have in most cases appreciated in value, and that the depreciation in the former securities show a far greater decline in comparison with similar ones in foreign countries, where anti-gambling bear operations are totally or partially prohibited by legislation; and whether he will consider the advisability of promoting an international congress with the object of promoting legislation to prevent gambling in futures and options?
§ Mr. LLOYD GEORGEI am not prepared to take action as suggested by the hon. Member in this matter at the present time.