HC Deb 25 November 1847 vol 95 cc210-1

MR. HINDLEY moved for a return of the minimum rate of discount charged by the Bank of England since the Act of 1844.

The CHANCELLOR OF THE EXCHEQUER

said, there was not the least objection to furnishing this information.

MR. F. T. BARING

suggested, that, as there would be much discussion concerning the Bank, in which many papers would be required, it would be desirable to have the whole information given at once. This course would save a great deal of inconvenience, not only in the pending discussions, but to everybody who might hereafter have to refer to the debates.

The CHANCELLOR OF THE EXCHEQUER

was desirous of giving the House the fullest information upon the subject; but his notion was, that the first duty of the Committee, which he should have the honour to move for on Tuesday, would be to determine what information would be proper to require from the Bank. He was perfectly ready to communicate beforehand with the Governor and Deputy Governor in order to obtain that information which was likely to throw the fullest light upon the subject; but he did not like to take upon himself to say what information should be laid on the table, because he conceived it would be better for a Committee to decide what they would require. The information moved for by the hon. Member ought to be given; but it had not been usual for that House to order any returns from the Bank of England, except those which by law the Bank was compelled to make, without previous communication with the Governor and Deputy Governor.

Return ordered.