HC Deb 12 June 1868 vol 192 cc1471-2
MR. SMOLLETT

said, he would beg to ask the Secretary of State for India, Whether representations have reached him soliciting the removal of the Bengal Bank Agency established at the Presidency of Bombay with the sanction of the Viceroy upon the occasion of the failure of the Bombay Bank, in order that the new bank recently formed at Bombay may not be interfered with by a rival Government Establishment; and, if so, whether the Government is disposed to entertain favourably proposals made to that effect?

MR. DYCE NICOL

said, he would beg to ask, Whether the Government have come to any resolution as to the precise terms on which their connection with the Bank is to be continued?

SIR STAFFORD NORTHCOTE

Sir, there has been a communication recently made to the India Office with regard to the continuance of the Bengal Bank Agency at Bombay. That agency was established for a temporary purpose only—for the purpose, as it was understood, of collecting the debts due to the Bank of Bengal at Bombay—and some time ago took occasion to express to the Government of India my opinion that, as the object for which the collector had been sent to Bombay had been some time since accomplished, I presumed that the agency should be withdrawn. In consequence of the representations which have been made I have written again to the Government of India, asking if there was any necessity For continuing the agency, and adding the request that if such was not the case, immediate steps might be taken for bringing the agency to an end, for it would be obviously incompatible to have two Government banks in the same Presidency. With regard to the Question of the hon. Member opposite (Mr. Dyce Nicol), would remind him that a Commission is now sitting in Bombay, upon the result of the labours of which will depend the future policy of the Government with regard to all the banks in India. With regard to the new bank at Bombay, Articles of Association have been framed under which it exists; but we are not altogether satisfied with those Articles, and a despatch has been sent to the Governor of Bombay requesting him to take measures for incorporating the bank under an Act of the Legislature, and to send home the terms of such incorporation.