§ Order for Second Reading read.
§ THE SECRETARY OF STATE FOR THE HOME DEPARTMENT (Mr. ASQUITH, Fife, E.),in moving the Second Reading of the Bill, said that it sought to carry out the recommendations of the Registrar of Building Societies with respect to the inspection of accounts and the liquidation of these Societies. His proposal was that the Bill should be read a second time, and then referred to a Select Committee, who could consider this and other Bills on the same subject. The Committee would have power to take the evidence of experts, and by the combined consideration of all the Bills useful amendments might be introduced into the Government measure and a satisfactory settlement arrived at.
§ Motion made, and Question proposed, "That the Bill he now read a second time.—(Mr. Asquith.)
§ *SIR MICHAEL HICKS-BEACH (Bristol, W.)hoped the House would agree with the Home Secretary and read the Bill a second time. He (Sir M. Hicks-Beach) had the pleasure of serving, many years ago, on the Building Societies Commission, who went fully into this matter, and recently important evidence had been given on the same subject before the Labour Commission. He thought it would be a great public advantage if this Bill were passed.
§ *MR. KIMBER (Wandsworth)said, he objected to the Bill because, for a very small sum of 5s., as matters stood, any person could go to a Society's office and obstruct the whole progress of business of a Society of the character dealt with in the Bill.
§ MR. BANBURY (Camberwell, Peckham)said, that the clause in the Bill giving depositors power to examine the accounts and books of the Societies was practically of no avail, as persons in the position of depositors in these Societies had no means of ascertaining from the examination of the books whether or not they were in a satisfactory position. He asked that an official auditor might be appointed, or that the depositors might themselves call in a professional accountant.
§ *MR. BARTLEY (Islington, N.)said this was purely a question for Committee. He must object to the Bill passing without a proper discussion of its principles.
§ MR. ASQUITHsaid, he would appeal to the hon. Member not to press his objection. The details of the Bill were pre-eminently questions to be discussed by a Committee selected by the House. As far as the Government were concerned, they would do their best to help forward Bills of hon. Members that were for the public good, and he hoped the House would assist them in advancing this measure in which a good deal of public interest centred.
THE MARQUESS OF CARMARTIIEN (Lambeth, Brixton)said, this was a Bill that ought to be discussed fully in the House, and not by any Committee. He objected to the Motion.
§ *THE CHANCELLOR OF THE DUCHY OF LANCASTER (Mr. BRYCE,) Aberdeen, S.hoped the noble Lord would not object to the extent of delaying the measure, as the Bill would have to come back to the House and be considered in Committee there after having been handled by the proposed Select Committee.
§ Objection being taken to Further Proceeding, the Debate stood adjourned.
§ Debate to be resumed upon Monday next.