§ MR. CHIOZZA MONEYI beg to ask MR. Chancellor of the Exchequer whether his attention has been directed to the opinion expressed on 15th January by the President of the Institute of Bankers, that he deprecated legislation on the question of the national gold reserve, but that to avoid it the banks must take the responsibility and the duty on themselves; whether he is aware that the profits of the leading banks enable them to pay dividends ranging from 15 to 20 per cent; and whether he can now see his way to take any definite steps in the important matter of the gold reserves.
§ MR. ASQUITHI am aware of the facts referred to by my hon. friend, though, quite apart from the Bank of England, I believe there are banks, which may fairly be called "leading banks," whose rate of dividend is not as high as he suggests. The question of the gold reserves is one which peculiarly requires careful and cautious handling; but I am not without hope that something in the nature of a general agreement of a practical character may be arrived at among the various interests concerned.