§ MR. O'MARA (Kilkenny, S.)
I beg to ask the Secretary to the Treasury, as representing the Postmaster-General, whether he will state the total amount deposited by the public in the Post Office Savings Banks, the total cash reserves held by the savings banks, and the percentage of cash reserve to liabilities; and, whether, in view of the fall in the market value of securities held by savings banks, he will recommend the Postmaster General to strengthen the cash reserves.
§ THE FINANCIAL SECRETARY TO THE TREASURY (Mr. AUSTEN CHAMBERLAIN,) Worcestershire, E.
The total amount standing to the credit of depositors in the Post Office Savings Bank on the 31st of December last, is estimated to be £140,409,000. There is no special cash reserve for the Post Office Savings Bank, nor is there any present intention of creating one. I may remind the hon. Gentleman that the security of the depositors is the credit of the State with all the available resources behind it.
MR. GIBSON BOWLES
The hon. Gentleman says there is no special cash reserve; is there any cash reserve at all?