The Committee was also satisfied (taking into consideration the fall in the exchange value of the Chinese dollar and increased freight and other charges) that in certain commodities profiteering, hoarding, speculation and manipulation exist, and was of the opinion that unless measures are taken to institute some form of control in the Settlement a worsening of an already serious situation is likely to eventuate.
The Committee felt that wherever possible, close ce-operation with the French Administration (a policy hitherto followed by the Council) should be adopted, thus securing uniformity and avoiding complications in measures of control It was necessary. in the public welfare to establish equitable prices to be charged to retail customers and these should be arrived at and published after due investigation of trading and other problems involved.
"Certain Measures" Wanted In their consideration of the steps to be adopted, the Committee examined the Council's powers and, after taking note of the factors involved, advocated adoption of certain measures as suitable preliminary means towards dealing with a difficult and complicated problem. It was intimated by members of the Committee that they hoped to submit further findings to the Council at a later date.
In conclusion, the Committee stated it was aware that the Council had no desire to interfere with the normal course of business or to restrict fair and legitimate profits arising therefrom. Present conditions were such, however, taking into consideration the abnormal increase in the population, that in the interests of peace and good order in the Settlement the measures of amelioration recommended to the Countil should forthwith be undertaken.
On the other hand, Italian coal ships now in port would leave in ballast, and no further Italian steamers would be sent to those ports to load coal.
"I have no doubt," the Prime Minister stated, "that there will be genuine satisfaction in this country (cheers) over this solution of what might have been a troublesome dispute by the application to the problem Of commonsense and good will (cheers).
"It may be hoped that the way now has been opened for resumption of negotiations between our two countries for furtherance of trade to our mutual advantage" (cheers).
Mr. William James Thorne, Labour member for the Plaistow Division of West Ham, asked whether the British Government had been able to arrange for supplies of more coal to Italy now.
He had no doubt that would be a subject for further discussion, Mr. Chamberlain replied.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.