§ Mr. Sutcliffe
asked the Minister of Supply what progress has been made between this country and the United States of America for the barter of rubber and cotton; what alterations have been made in view of the change in the exchange rate between this country and America; and how long is it proposed to continue such an arrangement?
§ Mr. Burgin
The Agreement for the exchange of cotton and rubber between this country and the United States came into force on the 25th August. Some deliveries of cotton are expected shortly. As regards rubber, the Ministry of Supply have begun the purchase of the necessary quantities for delivery to the United States.
The Agreement provided a means for relating the quantities of cotton and rubber to be exchanged on the basis of facts in a past period and these quantities are not affected by subsequent changes in the rate of exchange.
In reply to the third part of the question, the Agreement continues in operation until the delivery of the quantities of cotton and rubber provided for respectively has been completed.