§ MR. J. MACVEAGHI beg to ask Mr. Chancellor of the Exchequer whether he can state the total value of notes issued by the Bank of England in 1867, and the total value presented for payment; whether the £14,055 written off on account of notes issued in that year is the total value, or only part value, of those not since presented; and whether the State receives any portion of such moneys, or whether they are all annexed by the Bank from year to year.
§ MR. LLOYD-GEORGEI am informed by the Bank of England that after this lapse of time it is difficult to ascertain the exact value of the notes issued to the public during 1867, but that it appears to have been about £330,000,000. Of this total, all but £14,515 have been paid. The amount of £14,055 recently written off comprises the outstanding notes for £14,515, less a sum of £460, representing notes which have been written off in previous years but have been presented and paid during the current year. The Bank remains liable, under Section 6 of the Bank Act, 1892, to pay written-off notes, if presented for payment; and the State has no claim to any portion of the value of such notes.
§ MR. MACVEAGHMay I ask the right hon. Gentleman if he will also get the figures of the value of notes not presented to the Bank of Scotland, the Bank of Ireland, and the other joint stock banks of the United Kingdom?
§ MR. LLOYD-GEORGEI will consider that.