§ 49. Mr. HAMERSLEYasked the President of the Board of Agriculture whether any arrangements have been made with the joint stock banks to make advances to rural credit banks; if so, what interest will be charged on advances; and what conditions will be imposed on rural credit banks obtaining such advances?
§ The PRESIDENT of the BOARD of AGRICULTURE (Mr. Runciman)I will circulate the answer, which is a long one, with the Votes and Proceedings. But I may add that twenty of the principal joint stock banks in the country have come into the scheme.—[see written Answers this date.]
§ Mr. C. BATHURSTMay I ask whether, seeing that the same scheme has been tried in Ireland, and failed, and that a Departmental Committee of the Irish Board is now considering the matter, the right 1878 hon. Gentleman will defer the initiation of his scheme until that Committee has reported?
§ Mr. RUNCIMANNo, Sir, I could not think of deferring the initiation of our scheme. I think the sooner these co-operative societies can get cash advances the better.
§ Mr. C. BATHURSTNot on the wrong lines though.
§ Mr. HAMERSLEYWhen will the joint stock banks which come in be prepared to make advances, and when will the right hon. Gentleman circulate the information?
§ Mr. RUNCIMANI will circulate the answer to-day. From to-day onwards any properly constituted co-operative society will be able to take advantage of the terms secured for them.
§ Captain MURRAYDoes this scheme apply to Scotland also?
§ Mr. RUNCIMANNo, I am only responsible for English agricultural organisations.