§ MR. WATT (Glasgow, Camlachie)
asked the First Lord of the Treasury, What sum is paid annually to the Bank of England for the safe custody of Government moneys; whether an intimation was given by the Bank to the various Public Departments that they could not collect these moneys on the 9th day of November 1886 (otherwise known as Lord Mayor's Day), on account of a projected Socialist procession; and, whether the Government took any steps to enforce fulfilment of agreement on the part of the Bank of England?
§ THE FIRST LORD (Mr. W. H. SMITH) (Strand, Westminster)
The hon. Member's Question seems to be framed on a misapprehension. There is no sum paid annually to the Bank of England for the safe custody of Government moneys. The only payment made to the Bank is in respect of the management of the Debt—a payment which is made at a rate fixed by Parliament—all other banking business for the Government being undertaken according to the custom of bankers without direct remuneration. On the 9th of November, 1884, the cab containing the collection from Somerset House was placed in danger of being overturned by reason of the crowd. Since then it had been deemed more prudent not to attempt the collection on Lord Mayor's Day, according to the agreement with the authorities at Somerset House. No special intimation was given by the Bank to those authorities on November 9, 1886.