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Raw Cotton Market (Futures)

Volume 414: debated on Monday 15 October 1945

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asked the President of the Board of Trade whether he proposes to continue the war-time practice of bulk purchase, control and distribution of raw cotton in view of the fact that this will result in the extinction of the Liverpool Cotton Market, which employs some 7,000 persons, and enjoys a unique and highly-specialised goodwill and prestige in the world of cotton commerce.

Dealings in cotton futures in this country have been suspended since the end of March, 1941, when the Government took over the importation of raw cotton. The importation of cotton on Government account must continue for a considerable period, but final decisions on the long-term policy have not yet been taken. I am receiving a deputation from the Liverpool Cotton Association on the matter shortly.