Orders of the Day — Textile Industry

Part of the debate – in the House of Commons at 12:00 am on 26 March 1952.

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Photo of Mr Henry Hynd Mr Henry Hynd , Accrington 12:00, 26 March 1952

The hon. Member is talking about carpet weavers. We are principally concerned today with the cotton industry, and any remarks I make must be regarded as affecting that industry. I would not attempt to argue with the hon. Member, particularly about the carpet industry.

The hon. Member for Bolton, West, also took the opportunity of mentioning the possibility of re-opening the Liverpool Cotton Exchange. We have it on the authority of the President of the Board of Trade that it is impossible to open the Exchange at the present time. He gave us cogent reasons, and I take his word for it. Whatever merits there may be in the suggestion of re-opening the Cotton Exchange, I seriously suggest that this would be the wrong time to do it. It is not the time when the industry is struggling with difficulties to encourage the kind of speculation that would follow.