§ 54. Mr. HAMERSLEYasked the President of the Board of Agriculture whether the joint stock banks which are willing to render assistance to rural credit societies will charge the societies for such assistance; whether it is contemplated in the arrangement made that the banks will make the bank profits on the loans they make to the rural credit societies as they arrange for in their ordinary business; and whether, in the arrangements made with the said banks, any maximum rate of interest that they may charge the rural credit societies has been fixed?
§ Mr. RUNCIMANThe banks have agreed to make no charge for advice given to the societies. With regard to the remaining parts of the question, no maximum rate of interest has been fixed, but the banks have undertaken to make advances on favourable terms.