§ SIR W. HARCOURTI beg to ask the Chancellor of the Exchequer whether he will state what was the total amount of the last issue of Treasury bills, the average rate per cent on the whole, the amount and the average rate on each class of bills allotted?
§ MR. GOSCHENThe total amount of the last issue of Treasury bills, being the bills allotted last Monday, was £1,000,000. This amount was made up as follows:—£660,000 in three months' bills at £3 5s. 7d. interest, £260,000 in six months' bills at £3 5s. 6d. interest, and £80,000 in 12 months' bills at £2.16s. 7d. interest. The average rate of interest over the whole, if reduced to three months' bills, was £3 3s. 7d.
§ SIR W. HARCOURTWhy were not more of the bills allotted at the lower rate of interest?
§ MR. GOSCHENFor the simple reason that there were no further tenders at that time at the lower rate of interest; otherwise I should certainly have taken them.