§ 11. Mr. Osborneasked the Minister of Supply why he has ruled that motor cars purchased in this country by American companies for their buying agents operating in England and paid for in American dollars by a draft on New York, cannot be regarded as dollar exports, and therefore will not carry replacement of steel; and whether he will cancel this ruling immediately.
§ Mr. G. R. StraussI have asked the motor industry not to sell from the export quota cars destined for permanent retention in the United Kingdom, even against payment in foreign currency, since the possibility of compensatory transactions makes it uncertain whether in fact such sales would increase the net earning of foreign currency. I regret that I do not feel justified in withdrawing my request to the industry.