§ Mr. BETTERTONasked the Under-Secretary of State for India whether there is any evidence in his Department tending to show whether the decline, as compared with the previous period, in the purchase of Lancashire cotton goods in India from the beginning of 1921 to the 3164W present time is primarily due to the non-co-operation boycott and political feeling against this country generally or to trade depression and fluctuations in the rupee exchange?
§ Earl WINTERTONThe appended tables show the total import of cotton piece goods into India from the United Kingdom during the period January, 1921, to September, 1922 (the latest month for which figures are available), in comparison with the total imports for earlier periods. It will be seen that the average for 1921 is 28 per cent, and that of 1922 (first nine months) 19 per cent, below that of 1920. In the production of this decline there was certainly other important factors besides the non-co-operation boycott and political feeling. The following extract from the review of the year 1921 published by the Calcutta Import Trade Association well represents, I believe, the views generally held by those engaged in the trade
There has been practically no active market for imported piece goods during the past year largely on account of the heavy value and quantity of high-priced goods left over from the high rupee exchange period …. This depression is still with us to-day (February, 1922) and it is not yet clear when definite relief will come. To add to the exceptional difficulties under which the piece goods import trade has been labouring a heavy enhancement of Customs Duty was made in the early part of the year …. Non-co-operation activities have also restricted the free movement of commodities and must also have forcibly prevented consumption of supplies in many districts, whilst during the last three months of the year Calcutta bazaar dealers refrained from forward purchases by an agreement now expired.On the other hand, there has been one important factor making for a trade revival, namely, the good monsoons of last year, and this, and, in fact, the volume of imports in the period July to September this year, was greater by more than one-third than that of any similar period in the past year and a half, and almost double that of the corresponding period in 1921.It is impossible to calculate definitely to what extent the failing off in trade has been due to any one factor, but it seems clear from what is said above that the non-co-operation boycott cannot have been responsible for the loss of more than a small percentage of the trade. I believe that the comparative smallness of 3165W the decline in the volume of trade is not always realised in consequence of the fall in values.
Imports of Cotton Piece Goods into India from United Kingdom. (Thousands of Yards.) Monthly average for 1912 … 228,004 Monthly average for 1913 … 256,859 Monthly average for 1919 … 63,358 Monthly average for 1920 … 114,369 Monthly average for 1921 … 83,010 Monthly average for 1922* … 93,084 *First nine months.
1921. January … … … 102,859 February … … … 89,000 March … … … 91,015 April … … … 88,070 May … … … 58,779 June … … … 49,237 July … … … 56,520 August … … … 65,620 September … … … 80,457 October … … … 103,181 November … … … 119,914 December … … … 91,460
1922. January … … … 102,451 February … … … 72,495 March … … … 59,206 April … … … 62,604 May … … … 68,861 June … … … 72,791 July … … … 126,636 August … … … 156,192 September … … … 116,514