§ MR. WATT (Glasgow, Camlachie)asked the First Lord of the Treasury, Whether the Government will consent to the appointment of a Royal Commission to inquire into the operation of the London Brokers' Relief Act (33 & 34 Vict. c. 60), by which Act the Aldermen of the City of London were relieved of the duty of making inquiries as to the fitness of persons to act as stockbrokers in the City of London, and to take further evidence relating to the management of the Stock Exchange since the issue of the Report of the Royal Commission in 1878; and, whether the Government, if they cannot consent to the appointment of such Royal Commission, will bring in a measure to give effect to the suggestion of the Commis- 1600 sioners in their Report of 1878—namely, of investing the existing Association with a public character, in the shape of a Charter of Incorporation, as a protection to the public in Stock Exchange transactions?
§ THE FIRST LORD (Mr. W. H. SMITH) (Strand, Westminster)The Government are of opinion that the evidence taken before the Royal Commission in 1878 as to the conduct of business on the Stock Exchange was adequate and complete; and as no material change in the conditions has occurred in the interval they see no necessity for the appointment of another Commission upon the subject. I am informed that the recommendations of the Royal Commission have, in the main, been adopted by the Stock Exchange, with the exception of that which suggested that they should be incorporated by Royal Charter, on which the Members of the Royal Commission were not unanimous. Successive Governments, between 1878 and 1887, have not thought it expedient to proceed further in the matter; but the present Government will consider, during the Recess, whether it would be consistent with sound policy that any further steps should be taken to invest the Association with a public character.