Cotton seems to be the most political of all commodities.
Steel is a rival, but cotton troubles Parliament much more frequently. This week Mr. Butler and Mr. Maudling have , had to defend the new Anglo-Japanese financial agreement against the attacks of Labour members from Lancashire and Cheshire who fear Japanese competition and suspect that the general benefits for the sterling area claimed by the Govern- ment for this agreement will be paid for by the cotton industry. The two Ministers have also been, questioned privately by Conservative members from Lancashire. It is a great occasion for Mr. Maudling, the Economic Secretary to the Treasury. He negotiated the agreement while Mr. Butler was in Sydney, and his management of the controversy which is sure to last for some time will be a stiff political test. * * .*
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