§ Mr. Pallmerrose to move "for leave to bring in a Bill to Consolidate and Amend the Laws relating to Savings Banks." In bringing forward this motion, he felt it unnecessary to apprise the House of the importance of the subject. He need only remind them, that whilst on the one hand it embraced the interests of nearly half a million of that class of his majesty's subjects who were peculiarly entitled to the protection of parliament, it involved, on the other hand, a consideration of nearly 16,000,000l. of the public debt. With respect to those who were the objects of these institutions, it must be obvious, that the laws which affect these institutions ought to be as clear and distinct as possible. For the sake of the public interest it was obvious, too, that under the particular circumstances of the country, it was highly inexpedient that its revenue should be diminished by an excessive payment of interest upon any part of its debt. At present, there were no less than five acts of parliament regulating the institutions to which he referred, containing upwards of one hundred and fifty clauses, involved in a great deal of perplexity and confusion. His object was, to reduce those regulations into one simple and consolidated act of about thirty or forty clauses. With regard to the revenue, it was his object to afford to parliament an opportunity of considering whether they were not making too great a sacrifice in paying an interest, of 4l. 11s. 3d. upon this large portion of the public debt, whilst the interest, paid on the general funded and unfunded debt of the country were so much lower. There were other points, too, of great importance connected with the interests of these institutions, which, under the present acts, remained subject 1054 to great doubt and uncertainty. He meant the respectability of trustees, the surplus fund, and the class of contributors to be admitted. In the hope of embracing all the objects he had mentioned, he was ready to use his best exertions.
§ Leave was given to bring in the bill.