Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 23 June 1949.
First of all, the conditions in 1930–31 were entirely different, because they were caused by a great excess of commodities not merely in the United States but throughout the world, and also becouse of lack of confidence and of purchasing power. I am not denying that the United States is threatened at the moment, internally, with a surplus of commodities; but I am denying that there is any threat to this country of a glut of commodities of any sort or kind, and it is with this country and this country alone that I am dealing.