§ MR. HOWELL (Bethnal Green, N.E.)I beg to ask the Chancellor of the Exchequer whether he will state to the House the amount of the Separate 116 Surplus Fund, and of the balance on current account, which have been applied to cover partially or wholly the frauds and defalcations at Canterbury, Epsom, and Chertsey Banks; whether he will grant as an unopposed Return an account of the amounts in detail which have been so used in cases of ascertained frauds and defalcations in connection with Trustee Banks; and, whether he will lay upon the Table of this House copies of counsel's opinion as to the disposal of the Separate Surplus Fund and its relation to the State?
§ Mr. GOSCHENThe Canterbury, Epsom, and Chertsey Savings Banks mentioned were closed in consequence of the frauds and defalcations which took place in them. The surplus balance on current account at the 20th of November preceding the date of closing was stated to be £455 at Canterbury, and £74 at Chertsey, while the current account of the Epsom Bank showed a deficiency balance of £93. In each instance the total amount on current account was insufficient to meet the liabilities to depositors, and sums of £3,500, £460, and £60, being the amounts at the credit of each bank, were issued from the Separate Surplus Fund to Canterbury, Chertsey, and Epsom respectively. With regard to the second paragraph of the hon. Member's question, I must ask for time to consider whether the desired Return can be granted. Any opinions respecting the Separate Surplus Fund which may have been furnished to the Government by their Legal Advisers are, in accordance with the usual practice, treated as confidential, and cannot be made public.
§ MR. HOWELLMay I ask the right hon. Gentleman whether the Government will, during the Recess, consider the advisability of amending the law relating to Trustee Savings Banks, their relation to the State, the duties and responsibilities of trustees and managers, and as to the fraudulent Returns made to this House for many years of the accounts rendered pursuant to the Act of 1863?
§ MR. GOSCHENI certainly consider that it will be my duty to consider very carefully the various points referred to by the hon. Member, and which are raised by the Report of the Committee on Trustee Banks, as well as by the recent inquiry at Macclesfield.