§ MR. NICOLLsaid, he wished to ask the Chancellor of the Exchequer if his attention has been directed to the commercial inconvenience likely to be caused by Bankers refusing to honour checks when drawers have omitted to write their initials on adhesive stamps, but which are otherwise cancelled, sufficiently to accord with the intention of the Act; and if it is contemplated to enable persons who have given valuable consideration for such cheques to attach, or to cancel, adhesive stamps in lien of the drawers. He had intended to ask whether the Government proposed to amend the Law relating to crossed cheques, so as to make the crossing to a Banker an essential part of the cheque. The right hon. Gentleman, however, by giving notice of a Bill on the subject, had rendered this question unnecessary.
THE CHANCELLOR OF THE EXCHEQUERI am glad to infer from the question of the hon. Gentleman that the commercial inconvenience to which he refers is not au absolute but only a probable inconvenience. I have not yet heard that any inconvenience has occurred, and I will inform him of the practice of the Bank of England, trusting that every other establishment will follow its example. At the present time if a cheque is presented to the Bank of England without the stamp being cancelled payment is refused, but if that stamp is virtually cancelled so that it cannot be used again, payment is always made. Therefore I do not think that time inconvenience to which the hon. Member refers is likely to occur. The Government do not contemplate proposing, at present, any alteration in the new Act, or any further conditions to meet the difficulty, which is probably one that will settle itself in time.