§ Mr. PENNEFATHERasked the Chancellor of the Exchequer (1) whether the Government have in view any policy calculated to improve the exchange position as between this country and the United States, and thereby cheapen the essential commodities which we must import from that country;
(2) what steps, if any, the Government have taken or propose to take in conjunction with other Governments in order to improve and stabilise rates of exchange generally?
Mr. CHAMBERLAINI would refer the hon. Member to the answers given on my behalf by my hon. Friend the Financial Secretary to the Treasury to similar questions on 28th July and 18th November, to which I will only add that the only effective remedy for an adverse exchange is increased production and a larger export trade, coupled with such restriction of our purchases as is possible in the markets where exchange is adverse to us.