§ Mr. BOTTOMLEYasked the President of the Board of Trade whether, in view of recent disclosures in the Law Courts, he will consider the desirableness of introducing legislation requiring all persons and corporations carrying on the business of bankers to first make a substantial deposit with the Board of Trade, as in the case of insurance companies?
§ Mr. CHURCHILLThe considerations affecting banks, and those affecting insurance companies appear to me to be different in important respects, and I do not propose as at present advised to introduce legislation as suggested by my hon. Friend requiring all persons and corporations carrying on the business of bankers to first make a deposit with the Board of Trade.
§ Mr. BOTTOMLEYIs the right hon. Gentleman aware that at the present time in the winding up department of the Board of Trade over which he presides there are two so-called banks which are being wound up one of which never had a penny piece in its coffers against the cheque books which it issued wholesale, and the other advertised itself upon its overdraft.
§ Mr. CHURCHILLI am not aware of those cases.