§ SIR. HOWARD VINCENT (Sheffield, Central)I beg to ask Mr. Chancellor of the Exchequer if his attention has been called to the recent decline in the value of Consols, and to the consequent losses of small investors through the Government in that security by depositors in the Post Office Savings Bank; and if ho can suggest any means of preventing in the future such losses by investors in the Post Office Savings Bank.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. ASQUITH,) Fifeshire, E.I am aware that there has been a very considerable decline in the capital value of Consols, to the extent of twenty-seven points in ten years. Holders of Consols through the Post Office Savings Bank who may find it necessary to realise at present prices stock which they purchased at higher prices will necessarily incur a loss, but the risk of such loss is one which has to be taken by all purchasers of securities having a fluctuating capital value, and I see no reason why the Government should be asked to give preferential treatment to any particular class of holders of the public funds.
§ SIR HOWARD VINCENTgave notice that he would call attention to this matter on the Appropriation Bill.