[BILL 80.] COMMITTEE. (Hansard, 10 June 1863)

§ SIR HENRY WILLOUGHBY
said, it might be convenient to the House to state that the Bill was simply a consolidation of eight Acts or parts of Acts now in force in regard to these institutions. The Bill had no reference to the Post Office savings banks, nor would it disturb the handling of the savings banks monies when they bad passed into the custody of the Commissioners. For many years the gentlemen engaged in the management of those banks had expressed a wish to have a single Act on the subject, to which they might be able to refer without the inconvenience to which, under the present system, they were put; and a Committee which sat in 1858 had unanimously reported in favour of some such amendment of the law. Mr. Tidd Pratt, he might had, a gentleman of great 676 experience as to the working of savings banks, had certified on a copy of the Bill that, with the addition of those Amendments of which notice had been given, it would constitute a fair and just measure of improvement.

§ THE CHANCELLOR OF THE EXCHEQUER
admitted that there was no matte of any great difficulty in the Bill, though the object was one of great importance, and one in which the House ought not to take any step without circumspection, full notice, and publicity. The hon. Baronet, the hon Member for the Tower Hamlets (Mr. Ayrton), and others who assisted in drawing up the Bill, had in view an object useful and advantageous to the public, and had performed their task in a manner which seemed to be effectual, and which was highly creditable to themselves; It had been his duty, and the duty of those who were connected with the finances of savings banks, at the National Debt Office, to examine the provisions of the Bill; and he had made known to the hon. Baronet certain points on which, in furtherance of the main purpose of the measure, it was their desire to introduce Amendments. Some of these Amendments, which had reference to the financial working of the Bill, the hon. Baronet had frankly adopted, and others were rather of a verbal character; but as he had had no opportunity of giving notice of the alterations he should wish to propose, he must defer bringing them forward till the Report.

§ THE CHANCELLOR OF THE EXCHEQUER
suggested that words should be introduced to exempt the Post Office savings banks from the obligation of enrolling themselves by the prescribed titles.

§ MR. AYRTON
said, the exemption was unnecessary, as the Bill did not include the Post Office savings banks at all.

§ MR. CRUM EWING
said, he would move an Amendment which would raise the question whether it should be obligatory on trustees to be prevent when business was transacted.

§ MR. HIBBERT
proposed to insert, after Clause 37, a clause providing that the manager of any savings bank might, on an application in writing from any depositor therein who had effected a policy of assurance with any society within the United Kingdom, pay the premiums thereon to such society.

§ SIR HENRY WILLOUGHBY
said, he must oppose the introduction of the clause. It imposed upon the directors of savings banks duties which probably they might not be willing to discharge.

§ MR. AYRTON
said, the clause had been so recently placed on the paper that managers had not had time to consider its probable operation.

§ THE CHANCELLOR OF THE EXCHEQUER
said, he thought the clause opened up a question which went far beyond its apparent object, and which required very careful consideration.