§ 117. Mr. Gallacherasked the Chancellor of the Exchequer why the British Government undertook to transmit a Spanish credit of £95,000 to a Swedish firm to purchase 500 Junkers aircraft engines to be installed in Heinkel bombers.
§ Sir S. CrippsThe hon. Member is no doubt referring to the attempt of the Polish Government to sell 500 German manufactured aero engines to the Spanish Government through Swedish intermediaries for installation in Heinkel bomber air-frames, to which the Minister of State alluded in the United Nations General Assembly on 16th May. As all three countries concerned are in the transferable account area, which means that sterling can be freely and automatically used for settlement of direct current
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EXTERNAL TRADE OF HONG KONG £000 Year Total World Trade* Trade with United Kingdom† Imports Exports Imports Exports 1937 … … 62,720 53,909 2,921 1,305 1938 … … 39,236 43,752 3,526 1,326 1947 … … 99,982 82,224 10,278 2,388 1948 … … 129,880 100,327 18,808 4,693 1949 (First Eight Months) … … 106,399 91,414 14,678 6,010 1949 (Annual Rate) … … 141,865 121,885 19,571 8,013 * Including Treasure. † Excluding Treasure. transactions, the question of "transmitting a Spanish credit" does not arise. We have reason to believe, however, that the transaction has not been carried through.