HC Deb 02 August 1922 vol 157 cc1466-7W
Lieut.-Colonel WILLEY

asked the Chancellor of the Exchequer if he is aware that the Portuguese Government have fixed the rate of exchange with this country at 4d. per escudo; that the rate obtainable at present as around 3¾d. or a loss of about six per cent. to eight per cent.; that as a result of this decree merchants in this country are unable to obtain payment in sterling for goods; that this is going to prevent business between this country and Portugal; and if he proposes to take any steps to deal with this situation?

Sir P. LLOYD-GREAME

I have been asked to reply. I would refer my hon. and gallant Friend to the answer given to the hon. Member for the Keighley Division (Sir R. Clough) on 1st August, of which I am sending him a copy.