§ 26. Mr. SAMUEL ROBERTSasked the Secretary of State for the Home Department whether he is aware that in a Return to an Order of this House, dated 11th February, 1913, it was calculated that the Welsh Church Representative Body might reasonably secure a return of 3¾ per cent. from investments after Disendowment; and whether he will state what changes in the general position affecting investments have taken place since that date to cause him now to consider that a return of 4 per cent. can be safely secured?
§ Mr. McKENNAA more detailed examination of trustee securities has led to the conclusion that it is safe to say that interest at the rate of 4 per cent. may be readily obtained.
§ Mr. SAMUEL ROBERTSDoes the right hon. Gentleman think that 4 per cent. will be available for trustee investments in ordinary times?
§ Mr. McKENNAI can only speak as to the present time, because it is right to do so, and because, if the commutation were accepted, the money could be invested at once.
§ Mr. HOAREHas not the financial situation changed entirely since the time the right hon. Gentleman published his White Paper?
§ Mr. McKENNANo. I may say, in view of the hon. Member's question I have examined this morning a number of trustee securities, and found, as a matter of fact, that 4 per cent. was readily obtained.