§ MR. WICKHAMsaid, he would beg to ask Mr. Chancellor of the Exchequer, Whether, in his statement on Monday last on the Government Annuities Bill, he had any intention, when alluding to the transactions between the Professional and European Societies, to impute any dishonourable or improper conduct to the European Society?
§ THE CHANCELLOR OF THE EXCHEQUERsaid, he had great pleasure in assuring his hon. Friend that he had no intention of imputing any dishonourable or improper conduct to the European Society. The fact he had stated was to the effect that in the amalgamation—or, more strictly speaking, he should call it the transfer of liabilities from the Professional Society to the European Society —there was registered on the policies the difference between the sum which was assured and the amount at which it stood at that period, and he described that deduction by the strong phrase of "wholesale robbery," rather than a fair commercial transaction. It was, however, his intention to deal with the relation of the Professional Society to its own policy holders. Of course, it was not to be expected from any other society that it would take these policies at their full nominal value. That was the state of the case, and he had no intention to imply that the European Society was in any way involved in the matter. With regard to the Professional Society, he should be very glad if any statements were offered to him on the part of that society which would enable him in some way to qualify the phrase he had used.