HC Deb 17 July 1922 vol 156 c1733W

asked the President of the Board of Trade what was the value of the mark and the estimated difference between its external and internal value on 1st and on 10th July, respectively; and to what extent would a flat rate duty of 33⅓ per cent. in respect of goods imported from Germany on each of these two dates have been effective in counterbalancing any advantage derived by Germany in her export trade through the difference between the external and internal value of her currency?


The complete particulars necessary for the calculation of the differences referred to in the question are not available for either of the dates mentioned. So far as relates to 1st July, the partial information available indicates that the average level of wholesale prices in Germany was, at that date, about 80 to 90 times as high as in 1913. On the same date, the average wholesale prices of commodities in this country, expressed in marks at the rate of exchange of the day, were about 145 times as high as in 1913. If prices for export from Germany were the same as those on the internal markets of the country, a duty equal to one-third of the value would appear to offset something like three-fifths of the advantage derivable from the difference between the depreciation of the mark for internal and for external purposes.