§ Mr. FELLasked who are the persons known as the Commissioners for the Reduction of the National Debt, and if these Commissioners have any power or authority to examine the accounts of the old sinking fund to see that the moneys properly payable to that fund are in fact collected are paid to that fund, and paid over to them for the purpose of redeeming the National Debt?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hobhouse)The National Debt Commissioners are:—
The Speaker of the House of Commons,
The Chancellor of the Exchequer,
The Lord Chief Justice of England,
The Master of the Rolls,
The Paymaster-General,
The Governor and Deputy-Governor of the Bank of England,
and their powers and functions are governed by the Acts 26 Geo. 3 c. 31, 48 Geo. 3, c. 142, and numerous subsequent statutes. These functions are as regards the Sinking Funds mainly confined to the application for the purpose of redemption of debt of sums issued to them by the Treasury under various Acts. The duty of seeing that these issues are duly made rests not with the Commissioners but with the Comptroller and Auditor-General.
§ Mr. FELLMay I ask if these Commissioners ever meet, and if they do, when was the last occasion on which they met? May I ask further, whether their powers are strictly limited to receiving money and extinguishing national debt, or whether they have any power to look into this fund?
§ Mr. HOBHOUSEI have given the hon. Gentleman references to the statutes in which he will find all their powers enumerated. There has been no meeting of these gentlemen within my recollection.
§ Viscount CASTLEREAGHCan the right hon. Gentleman say in what manner they have power to make a protest?
§ Mr. HOBHOUSEI can only say to the Noble Lord, as I have already informed the hon. Gentleman opposite, that he will find all their powers in the statutes I have enumerated.