§ 81. Mr. Teeling
asked the President of the Board of Trade whether the£10 million sterling accumulated from last year's agreement by Japan has now been expended; whether any arrangements were made as to the amount of goods to be purchased by Japan in any one period of the agreement or by the United Kingdom and colonies; and what he proposes to do about trade with Japan between now and next June.
§ Mr. Bottomley
The answer to the first part of the Question is "No." The Supreme Commander needs this sum as a working balance, and, during the negotiations in Tokyo last autumn, we agreed that he might hold it for that purpose. In reply to the second part of the Question, there was no provision, for any particular rate of buying on either side during any one part of the year. As regards the remainder of the current period, it is the intention of His Majesty's Government to carry out the terms of the arrangement signed last year.