§ Mr. FIELDasked the Chancellor of the Exchequer whether he is aware that a world's corner in wheat has been engineered since last autumn by certain American speculators through the system of international gambling in options and futures, and that as a consequence the price of this cereal has been advanced fictitiously many shillings a quarter, with a sympathetic rise in the price of a loaf; whether he is aware that a further rise in the prices of all foodstuffs may lie in the hands of this powerful syndicate; and whether, in view of this fact, he will consider what steps the Government propose to take to prevent any further artificial inflation of prices in the prime necessities of life, with the object of protecting consumers generally and also to safeguard the position of foodstuff supplies in case of any sudden international crisis?
§ Mr. LLOYD-GEORGEI do not think that this is a matter in which the Government could usefully take action.
§ Mr. FIELDfurther asked the Chancellor of the Exchequer whether, in view of the effect upon the trade, finance and agriculture of the three Kingdoms through option and future gambling operations, he will consider the advisability of increasing and extending the stamp tax on all such option and future contracts which only terminate in the buying of differences, and are thereby gambling operations in fictitious shares or commodities, whether they be entered into on the stock, cotton, produce, metal, or share exchanges, with the intention of increasing the revenue for Budget purposes?
§ Mr. LLOYD-GEORGEI will consider the hon. Member's suggestion.