§ Mr. Osborneasked the President of the Board of Trade what limit has been fixed to the losses which the Raw Cotton Commission may make by guaranteeing the master cotton spinners against day-to-day fluctuations in the price of raw cotton; and if this guarantee applies only to export yarns.
§ Mr. J. Edwards:The guarantee applies only to export yarns so that the cost to the Commission will be governed in the first place by the quantity of yarn offered for export, and in the second place by the 29W extent of the upward day-to-day fluctuation which may occur in the Commission's prices. I understand from the Commission that no specific limit has been fixed.