§ SIR HENRY WILLOUGHBYsaid, he begged to ask the right hon. Gentleman the Chancellor of the Exchequer if any moneys of the savings banks of the United Kingdom have been employed in the purchase of Exchequer Bills, since the 20th day of November, 1852, and, if so, to what amount and by what authority; and whether he has any objection to place the amount of such moneys, and date of the purchases, on the table of the House?
§ The CHANCELLOR OF THE EXCHEQUERsaid, he had to state, in answer to the question of the hon. Baronet, that the term "moneys of the savings banks" was, strictly considered, a misnomer. There was no such thing as "moneys of the savings banks" in the custody of the Governments; but all the money received from the savings banks, when it had once been taken by the Government., became a debt from the Government to the trustees of the savings banks; and the Government were equally responsible for the repayment of the debt, whatever might become of the money with regard to which it was originally created. But if the hon Baronet's question referred, as he had no doubt it did, to the money received from the savings banks, the answer then was, that such moneys had been employed since the 20th of November, 1852, in the purchase of Exchequer bills, which had been remitted to the trustees of savings banks. The authority under which this was employed had been the authority of the Chancellor of the Exchequer, as was the usual course in that respect. There was no objection whatever to place the amount of such moneys, and the date of the purchases, from time to time upon the table of the House; but on the 5th of July, or some other recent date, the information had already been laid on the table in a return moved for by the right hon. Gentleman the Member for Buckinghamshire (Mr. Disraeli). In that return the hon. Baronet would find the particulars he 380 required down to the date of the return; but if he wanted to have them later, he could have them upon moving the House to that effect.