I must admire, because I have seen it so often in the past, the very able way in which the right hon. Member for Kingston-upon-Thames (Mr. Boyd-Carpenter) put forward his points. It was an excellent debating exercise and was very skilled. I remember three of my hon. Friends, who used to be referred to as "the three midnight hags", doing the same thing.

The hon. Member for Chigwell (Mr. Biggs-Davison) said that he was not a free trader and that he accepted some form of protection. This is a further restriction on the movement of goods across the frontiers of nation States; this is an import control. I recognise that the Government must do something like this. We must exercise some import control in this situation, very much in the way that other nation States will have to exercise import control, because of a world crisis in the monetary mechanism.

Throughout my life, the crises in the world have been the failure, not of businessmen, industrialists or politicians, but of those who work the monetary machine. It is the monetary mechanism which has let us down every time. The scientists, engineers and technicians all over the world are producing more real wealth. The breakdown comes not in the production machine, not even in the distributing machine, but in the monetary mechanism. But no one seems to bother.

We put this imposition on traders, importers and manufacturers. They have to bear more and more burdens. I know that there is a huge list of exemptions, but the purpose of these import controls is to try to help those who work the monetary machine to solve our monetary problems. It is on the politicians that the problem of solving this terrible recurring crisis of liquidity in the monetary mechanism falls.

Politicians. too, are at fault. There must be in the world thousands of millions of pound in real wealth circulating in building up huge armament resources. Yet politicians, bankers and financiers in all countries state time and again that in the foreseeable future war on a scale that we have had in the past is impossible and would not achieve its ends and that it is impossible to make economic or political decisions by war. Yet every nation—Russia, China and America included—insists on using about 10 per cent. of the world's resources on creating symbols of nationalism which are no longer justified and which cannot be justified because they would solve nothing.

We must accept this Motion in this situation. Again, we have an international crisis. It has been caused not by industrialists or trade unions—it is not the failure of the trade unions or of the workers of France, Germany, Britain or America—but by bankers and speculators and people who deal in money. There has been a breakdown of the monetary mechanism. It would be a good thing if politicians of all parties, industrialists and trade unions got together to discover why it is that, although we can produce more real wealth, the faster we do it the more often we are faced with a money crisis.

The trouble is the failure, not of Western civilisation or of its productive machine, but of its monetary mechanism. We are asking the people of this country, President de Gaulle will have asked the people of France and it may be that in five years the German Government will ask the German people to make sacrifices. Why?—Because of the friction in the monetary machine.

What is required is a European inquiry—indeed a Western inquiry—into the workings of what is known as international finance. Why is it that it can throw nations into such chaos? Since long before the war, since I was a youth, every crisis in Europe has been a crisis of money and not a crisis of production. The world can produce and distribute tremendous wealth. Engineers, scientists and technicians can abolish poverty—