§ MR. J. MACVEAGH (Down, S.)I beg to ask the President of the Board of Trade whether he has any, and, if so, what objections to asking the joint stock banks of England, Ireland, Scotland, and Wales to supply for the information of Parliament statistics as to the value of the unclaimed balances appropriated by the banks during the past hundred years; whether, having regard to the 1269 fact that the value of unclaimed Government stock and dividends has amounted to millions of pounds, there is any reason to doubt that the unclaimed balances in banks also amount to an enormous total; and whether he can state if the banks are in the habit of annexing after a period of six years these sums to which they have no moral claim.
§ MR. CHURCHILLI have no statutory power to call compulsorily for information from banks as to the accounts of their customers and any partial information obtained by voluntary inquiry might be misleading. My information is to the effect that banks are not in the habit of treating unclaimed balances as their property after the lapse of six years, but that they regard themselves as continuing debtors to the customers or their representatives.
§ MR. J. MACVEAGHHave not the Board of Trade jurisdiction over these joint stock banks, and, if that is so, what difficulty is there in asking them to supply information, not as to customers' accounts, but as to unclaimed balances?
§ MR. CHURCHILLI am informed the Board of Trade have no such power. I give that opinion on legal authority.
§ MR. WATT (Glasgow, College)Is it within the power of the right hon. Gentleman to see that the banks make an effort to find the customers?
§ [No Answer was returned.]
§ MR. J. MACVEAGHYou will want the money for old-age pensions presently.