HC Deb 15 June 1894 vol 25 cc1314-6

COMMITTEE. [Progress, 14th June.]

Bill considered in Committee.

(In the Committee.)

Clause 5.

Amendment proposed, in page 2, line 28, to leave out the words "and applied solely."—(Mr. A. Morley.)

Question again proposed, "That the words 'and applied solely' stand part of the Clause."

MR. BARTLEY (Islington, N.)

I think we have some reason to complain that this Bill is completely changed since it was introduced and read a second time. When the Bill was read a second time it had a definite object and was limited to the provident funds of these Societies. On that ground, and the object being one with which I had a great deal of sympathy, I allowed the Second Reading to pass without discussion. But now the purpose is totally different, and the Bill will enable any amount to be paid in by these Trade Societies without limit. This raises a very important point—namely, whether these Societies should not rather buy Consols than accumulate large funds in the Savings Banks under the guarantee of the community. Upon that point I should like a discussion, but I have no wish to stop the progress of the Bill now if the Postmaster General will agree to set down the next stage for some ten days hence, so that we may have the Bill reprinted in its amended form, and that those who have given thought to the subject may suggest Amendments and raise a short discussion as to the propriety of inducing Societies to buy Consols rather than to resort to this method.

*THE POSTMASTER GENERAL (Mr. A. MORLEY, Nottingham, E.)

I think the suggestion of the hon. Member is a very reasonable one, and I shall be happy to accede to it, taking the Report stage on Friday next.

MR. W. BROMLEY-DAVENPORT (Cheshire, Macclesfield)

I have offered opposition to this Bill, and for this reason: The hon. Member (Mr. Bartley) can speak with great experience of Penny Banks, and the right hon. Gentleman, of course, has great interest in the Post Office Savings Banks, and I have a little experience—I do not say it is great—of Trustee Savings Banks, and feel very jealous indeed of an extension of the privileges extended to Trustee Savings Banks. It must be remembered that these Trustee Banks rely on the public spirit and generosity of people who lend their credit for the benefit of those who could not stand alone. But there can be no reason why they should lend their names for the benefit of those able to invest elsewhere, such as Trades Unions. Since the Bill was read a second time a provision has been introduced to enable Trades Unions to derive the benefit of Savings Bank legislation, and I do think it is a strange thing that hon. Members should seek to derive benefit from the credit of those they seem anxious in other ways to destroy. Certainly, for myself, I do not propose to oppose the Bill to-night. After the conversation I have had with the Postmaster General, and the assurance he has given, I do not wish to attempt to prevent the Bill passing, but I hope the right hon. Gentleman clearly understands that during the week which will elapse before the House is asked to take the next stage we shall consider carefully what the Bill will do, and it does not follow at all that because we allow it to pass through Committee tonight we shall allow it to pass its future stages after 12 o'clock without debate.

Question put, and negatived.

Remaining clauses and Schedule agreed to.

Bill reported; as amended, to be considered upon Friday next.