Less definite but equally important, Mr. Stanley went on, was the influence of Japan's side of the war. Almost from the beginning she had imposed drastic restrictions on imluxury imports.
But, he said.
Anyone who considers the figures will see that in fact they go far be-Yond that and impose restrictions on And lessen the consum; of mary of the primary commodities.
"Of all the figures the o which is most Impressive and gives idea of what it has do general trade of the figure for cotton "In the first three months of this year as compared with the first three months of last year the value of imported cotton has fallen from Y.345.- goo to Y.12,00.000. a reduction to something like 20 per cent. in the imports of cotton to Japan.
"We can all see what the ultimate effect of that reduction may Japan as an exporting country the effect it may have on those who Compete with her in the cotton markets, but the one immediate result Of such a drastic reduction of purchases is to accentuate the decline in ihe raw material, to maker more uncertainty and to add to the greater difficulties of those who are conducting that trade.
"LI have given the cotton figures the wool case is almost as startling Hon. Members know that ex same is the case of wool. and that if Was the action of the Japanese buyer: On. the Australian wool sales last autumn which began the decline it few years lid appeared to have been jhe, price of wool which in the last arrested."
The course of the debate showed dissatisfaction with the Goverpment's policy in trade matters from -several quarters, particularly from Lancashire members. But it may be thought b: some that the policy which "permits the Far East to go on ruiningtitself and the world without an effort to stop the débâcle is more open to criticism than any.
Text read from the printed page and cleaned; old type leaves the occasional error.