§ SIR EDGAR VINCENT
I beg to ask Mr. Chancellor of the Exchequer if he will state what the profit or loss to the Treasury has been since 1861 from operations in connection with the Post Office Savings Bank. I bog also to ask Mr. Chancellor of the Exchequer if he can say what the profit or loss to the Treasury has been since 1880 from operations in connection with the Trustee Savings Banks.
§ *SIR M. HICKS BEACH
I will answer these questions together, as I agree with Sir Stafford Northcote's observations in 1877, to the effect that the subject must be considered as a whole. The net profit in respect of the Post Office Savings Banks cannot be given for any earlier year than 1876 as the income and capital accounts were not separated— but since 1876 it has been £1,565,000. The net loss in respect of the income of Trustee Banks since 1880 has been £197,000, to which should be added the charge on public funds in the same period for making good previous deficiencies of capital amounting to £1,590,000— making a total of £1,787,000. Therefore the cost of the Trustee Banks since 1880 has exceeded the profit derived from the Post Office Banks by £222,000.