§ Mr. C. BATHURSTasked whether any, and, if any, which, of the leading banks in the country have signified their approval of or promised to co-operate in the working of the Agricultural Credit and Insurance Societies Bill recently introduced by the President of the Board in the House of Lords?
§ Sir E. STRACHEYThe assurance of sympathy and co-operation which the President of the Board has received in the course of his communications with bankers on the subject of the formation of agricultural credit societies were necessarily of a general character, and it would be invidious to mention the names of particular banks.
§ Mr. C. BATHURSTWhy is it the President intimated that he had the co-operation of the leading banks unless the majority of them were in favour of supporting this Bill?
§ Sir E. STRACHEYI do not know. I can only give you the answer I have already given.
§ Mr. MORRELLMay I ask whether the consent of the leading banks is necessary before the Government proceed with this scheme?
§ Sir E. STRACHEYThat is a question for the President of the Board.
§ Mr. C. BATHURSTasked under what powers created by or provisions contained in the Small Holdings and Allotments Acts, 1907 and 1908, are moneys standing to the credit of the Small Holdings Account, constituted by Section 19 of the former and continued by Section 51 of the latter Act, applicable to the payment of the preliminary expenses of credit and insurance societies proposed to be promoted under the provisions of the Agricultural Credit and Insurance Societies Bill recently introduced by the President of the Board in the House of Lords?
§ Sir E. STRACHEYNone; but the Bill which has been introduced by the President of the Board in another place makes provision.
§ Mr. C. BATHURSTIf this proposal is ultra vires the Act of 1908, is it proposed to repeal Section 21 of that Act?
§ Sir E. STRACHEYIt will not be ultra vires if Parliament chooses to consent to it.
§ Mr. C. BATHURSTasked how, if it is proposed to expend the sum of £40,000 remaining to the credit of the Small Holdings Account in paying the preliminary expenses of the societies to be constituted under the Agricultural Credit and Insurance Societies Bill, it will be possible hereafter to defray the expenses incurred by the Board in demonstrating the feasibility of the establishment of small holdings under Section 20, and in repaying 1346 to county councils the whole or any part of their expenses of proceedings taken in relation to the acquisition of land under Section 21 of the Small Holdings and Allotments Act, 1908, or in repaying to such councils compensation paid by them to dispossessed tenants under Section 1 (2) of the Small Holdings Act, 1910, for which purposes this fund is specifically earmarked by such Acts?
§ Sir E. STRACHEYIt is not anticipated that the balance standing to the credit of the Small Holdings Account will be expended in the payment of the expenses to which the hon. Member refers. Whenever that balance is exhausted it will be necessary that further provision should be made by Parliament to meet the charges directed by Statute to be paid out of the account.
§ Mr. C. BATHURSTUnder those circumstances, is it not most desirable to replenish this fund forthwith out of the Exchequer, as provided by the Act of 1908?
§ Sir E. STRACHEYIt is not necessary.