§ MR. HAYTERasked Mr. Chancellor of the Exchequer, Whether he will consider during the Recess the propriety of withdrawing the assent of the Treasury to the moneys, varying from one to two millions, of the Metropolitan Board of Works being kept at the London and Westminster Joint Stock Bank; and, whether he will consider the question of urging the Metropolitan Board of Works to place them in the Bank of England, having regard to the increase of the 1205 balance since the Treasury was asked to sanction the original deposit made under the 41st section of the 32 and 33 Vic., cap. 102?
§ THE CHANCELLOR OF THE EXCHEQUER,in reply, said, he had looked into the Act to which the hon. Gentleman referred, and he did not think it was competent under the provisions of that Act for the Treasury to consider the propriety of withdrawing its assent to the moneys being deposited in the bank referred to. The question raised for the consideration of the Treasury under the Act was simply this—that the Metropolitan Board should pay the moneys they received under the Act to a bank to be approved of by the Lords of the Treasury. A formal application was made by the Board to the Treasury to sanction the employment of the London and Westminster Joint Stock Bank. That assent was given, and it seemed to him that the Treasury had now, under the statute, nothing more to do in the matter. It was, however, a question whether it was not desirable that the Treasury should be withdrawn by some alteration of the statute from any connection with any particular Bank, because it did not appear to him that it was altogether a convenient position that the Metropolitan Board should have the apparent sanction of the Treasury in such a matter.