HC Deb 31 May 1870 vol 201 cc1701-2

said, he would beg to ask Mr. Chancellor of the Exchequer, Why the excess of interest paid to the Trustees of Savings Banks during the year 1869, over that received by the Commissioners, amounted to £217,254 15s. 10d. while the excess for the year 1868 was only £17,091 11s. 2d.?


, in reply, said, he had not had a very long time to look into that Question, and therefore, perhaps, could not give the full answer which his hon. Friend desired. In substance, however, the answer was, that the amount which was paid to the Commissioners for the Reduction of the National Debt on account of the savings banks for terminable annuities in 1868 was £2,780,000, and in 1869 only £2,258,000, so that there was a difference between the two years in the amount of the payments of £522,000. The cause of that difference was the arrangements—which he had not had time fully to go into so as to state their details to the House—made as to the period for paying those annuities, with a view to the convenience of the public balances.