§ MAJOR DALBIAC (Camberwell, N.)
I beg to ask the Secretary to the Treasury, as representing the Postmaster General, why any person investing money in the Post Office Savings Bank on the first day of the month receives no interest for that month?
§ MR. HANBURY
In reply to the hon. Member, I have to state that the Act of Parliament establishing Post Office Savings Banks provides, amongst other things, that interest on a Savings Bank deposit shall not commence until the first day of the calendar month next following the day of deposit.