Mr. T. MORRISasked the President of the Board of Trade whether countries like Rumania, who are suspending British imports in order to readjust the balance of trade, are none the less meeting the payments of moneys for British goods already received?
§ Mr. RUNCIMANMy attention was called to statements in the Press on 14th March that Rumania had suspended imports from the United Kingdom and from some other countries because the balance of trade with those countries was adverse to Rumania. I made immediate inquiries, and was informed that the issue of import licences had been suspended for two or three days only while the Rumanian authorities were ascertaining the precise position of the trade balance. Under the Anglo-Rumanian payments agreement of 8th February, Rumania may, so long as the monthly payments for the settlement of outstanding debts continue, restrict the importation of United Kingdom goods into Rumania to 55 per cent. of Rumanian exports to the United Kingdom.