§ Sir M. BARLOWasked the President of the Board of Trade whether his attention has been called to the fact that the leading cotton combination has recently declared a 30 per cent, dividend and is now proposing to divide up over £7,000,000 sterling in bonus shares as a free gift amongst its shareholders; whether he is aware that ordinary rods of sewing cotton are being sold to the public at 7d. or 8d.; and whether something really-effective can be done to protect the public against this inflation of prices?
§ Sir A. GEDDESThe answer to the first part of my hon. Friend's question is in the affirmative. As regards the remainder of the question, a Committee appointed by the Central Committee established under the Profiteering Act is and has for some time been investigating prices, costs, and profit at all stages in the manufacture of sewing cotton. The question of any further action will be considered when the Report of this Committee has been received, but I think it very necessary to remember that this great business undertaking carries on a large part of its activities in foreign countries, and that in so far as its profits are derived from that trade they mark an increase in the wealth of the nation as a whole, and contribute to the international payments which we have to make for industrial raw materials and food.