§ Sir M. BARLOWasked the President of the Board of Trade whether the rise in the price of cotton and woollen manufactures is largely attributable to the demands of India and the East; if so, whether this demand from the East is due to the recent rise in the price of silver and, in consequence, the increase in the purchasing power of silver in exchange with gold-using countries; and whether he can hold out any prospect of making provision to stabilise the exchange with silver-using countries in the East?
§ Sir A. GEDDESThe primary causes of the rise in the prices of cotton and woollen manufactures are a world shortage due to the chief manufacturing countries having been at war and a great increase in the cost of production. It is difficult to say to what extent the normal heavy demand of India and the East has been increased by the recent rise in the price of silver. The problem of the exchange with these countries is a very difficult one. I am not at present in a position to say whether it would be possible or desirable for the Government to take any steps.