§ MR. J. MACVEAGHI beg to ask the Secretary to the Treasury whether, having regard to the fact that the Government is the most important customer of the Bank of England, he will ask the Governors to supply him with figures showing the amounts received by the Bank of England from unclaimed balances during the past 100 years.
§ MR. HOBHOUSEThe holders of Government Stocks are creditors of the 1275 nation, and the nation accordingly benefits if they forego their claims. In the case of bank deposits, the transactions affect only the depositors and the banks.
§ MR. J. MACVEAGHasked whether the hon. gentleman would take no steps to ascertain what was the amount retained by the Bank which they had no right to retain.
§ MR. HOBHOUSEI have to be persuaded that they have no right.
§ MR. J. MACVEAGHasked whether it was not a fact that, if the money belonged to anybody, it belonged to the State and not to the Bank, and, if that were so, why did the hon. gentleman refuse to ask the Bank what money they had obtained from these sources.
§ MR. HOBHOUSEI do not admit the position at all.
§ MR. J. MACVEAGHSurely if the hon. gentleman will send a polite letter to the Governors of the Bank of England they will at least send him a polite reply?
§ MR. HOBHOUSEIt would probably be a polite refusal.
§ MR. J. MACVEAGHSurely the hon. Gentleman does not think—
§ * MR. SPEAKERThe hon. Gentleman has got the same answer three or four times.
§ MR. J. MACVEAGHgave notice that, on the Vote for the hon. gentleman's salary, he would call attention to this matter.
§ MR. J. MACVEAGHI beg to ask the Secretary to the Treasury whether he can explain why unclaimed Government Stock and dividends thereon are deemed to be national property, whilst unclaimed balances in banks are deemed to be the property of the banks.
§ MR. HOBHOUSENo, Sir.