Skip to main content

Gambling In Wheat

Volume 175: debated on Tuesday 11 June 1907

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Prime Minister whether he is aware that owing to the international gambling operations in options and futures of American wheat its price has already advanced in about three weeks some 20 to 30 cents; that this has caused a rise in all cereals and food stuffs, and that in consequence the price of flour in most parts of the United Kingdom has already been advanced from 3s. to 5s. per sack, and that the 41b. loaf has also been advanced from ½d. to 1d.; and, if so, what steps does His Majesty's Government intend to take in order to safeguard the masses of this country in the future, especially in case of war, from advances in the prime necessities of life caused by these international gambling operations in fictitious food stuffs through option and future contracts. (Answered by Sir H. Campbell-Banner-man.) His Majesty's Government are not prepared to take action in this matter.