asked the President of the Board of Trade whether he is now in a position to make any further statement with regard to the scheme for an exchange of emergency reserve of certain commodities with the United States Government?

I am glad to be able to inform the House that the negotiations with the United States Government for the exchange of a stock of cotton, to be held in this country for use only in case of a major war emergency, against a stock of rubber, to be similarly held in the United States of America, have reached the final stages, and I hope that the United States Ambassador and I will be able to sign the Agreement during the course of the day. Copies will be made available to Members as soon as possible after signature.