§ 6. Mr. RUPERT GWYNNEasked the Under-Secretary of State for India if he will lay upon the Table a copy of the contract with Messrs. Samuel Montagu and Company for the purchase of silver, and a copy of the terms on which they were instructed to purchase?
§ Mr. H. BAKERNo formal contract for the purchase of silver was entered into with Messrs. Samuel Montagu and Company. Letters of instruction were; sent on each occasion, and, with the hon. Member's permission, I will circulate copies of them with the Votes, together with a specimen of the contract notes that were furnished in respect of the several purchases. [See Written Answers this date.)
§ Mr. R. GWYNNEMay I ask if he will give the complete correspondence and not merely extracts from certain letters as he has done previously?
§ Mr. H. BAKERNo, I think it was complete.
Mr. MacCALLUM SCOTTMay I ask whether the same procedure was adopted in the case of this firm as in the case of other firms which have purchased silver?
§ Mr. H. BAKERI think so. Perhaps the hon. Member will give me notice and I will answer.
§ Mr. R. GWYNNEMay I press the hon. Gentleman to give the complete?
§ Mr. H. BAKERI think it will be complete. I will consult the Secretary of State.
§ 8. Mr. RUPERT GWYNNEasked the Under-Secretary of State for India if he will give the names of the sellers from whom purchases of silver were made by Messrs. Samuel Montagu and Company on behalf of the Government, with the amount, the price, and the date in each case during the present year.
§ Mr. H. BAKERThe information as to amount, price, and date will be circulated with the Votes. As regards the names of sellers, the Secretary of State has never been informed of them either when purchases have been made by the brokers employed by the Bank of England or when they were made through Messrs. Samuel Montagu and Company, and he has ascertained that in the former case the Bank of England has not been informed by its brokers. I am circulating with the Votes a statement regarding the practice in this matter, which has been furnished by Messrs. Sharps and Wilkins, Messrs. Pixley and Abell, and Messrs. Mocatta and Goldsmid, the three leading bullion brokers other than Messrs. Samuel Montagu and Company. [See Written Answers this date.]
§ Mr. R. GWYNNEIf the hon. Gentleman states that the Secretary of State does not know the names of the sellers from whom the silver was bought will he say how the Secretary of State can say definitely that Messrs. Montagu acted as brokers and not as dealers?