§ Mr. A. T. DAVIESasked the Chancellor of the Exchequer whether his attention has been directed to the dis- 753W advantage under which British bankers are in competing with the United States for foreign loans because of the 2 per cent. duty which is imposed in this country upon issues of new capital, while in America there is no duty on fresh capital raised there; whether he is aware that British bankers have lost much business owing to the disadvantage they are under in comparison with the United States bankers; and whether the present position has been considered with a view to some amelioration at an early date?
§ Mr. BALDWIN:I would refer my hon. Friend to the reply which I gave to a question on this subject by my learned Friend the Member for the Exchange Division of Liverpool (Sir L. Scott) on
Months. Excise. Customs. Total. Quantity. Net Receipt of duty. Quantity. Net Receipt of duty. Quantity. Net Receipt of duty. 1921 Pf. Gals. £ Pf. Gals. £ Pf Gals. £ September … … … 1,2653,557 4,493,076 238,872 881,521 1,502,429 5,374,597 October … … … 1,314,365 4.647,826 301,419 1,119,446 1,615,784 5,767,272 November … … … 1,678,333 5,963,979 472,429 1,752,351 2,150,762 7,716,330 December … … … 1,772,094 6,288,157 448,902 1,662,300 2,220,996 7,950,457 1922 January … … … 1,122,078 3,949,660 254,557 944,082 1,376,635 4,893,742 February … … … 1,021,365 3,528,542 220,924 813,898 1,242,289 4,342,440 March … … … 794,788 2.680,230 127,190 456,774 921,978 3,137,004 April … … … 690,051 2,359,883 91,784 335,134 781,835 2,695,017 May … … … 1,894,628 6,762,721 365,258 1,350,232 2,259,886 8,112,953 June … … … 1,080,712 3,801,494 147 240 544,293 1,227,952 4,345,787 July … … … 1,128,453 3,994,785 162,178 599,029 1,290,631 4,593,814 August … … … l,l8l,840 4,171,434 177,138 660,233 1,358,978 4,831,667 September … … … 1,083,161 3,831,717 172,841 644,349 1,256,002 4,476,066 October … … … 1,308,817 4,638,460 255,880 952,572 1,564,697 5,591,032