MR. KENNARDasked the Postmaster General, Whether it is a fact that the Post Office Savings Banks cost twice as much for management and expenses as has been found sufficient in the case of various provincial Government Security Savings Banks, notably the National Security Savings Banks of Edinburgh, established by Act of Parliament in 1836, which allows £2 12s. 6d. interest to depositors, and has now on deposit upwards of £1,300,000?
§ MR. FAWCETTSir, as the Post Office Savings Bank allows to depositors the important facility either of making fresh deposits or withdrawing money, after short notice, at any of the 7,000 offices throughout the Kingdom, no fair comparison can be made between the cost of conducting its business and that of other institutions which are managed like ordinary banks. I may, however, state that there is no such difference as that indicated by the hon. Member between the cost of conducting the business of the Post Office Savings Banks and that of the bank to which he refers, the difference being very trifling.