§ Motion made, and Question proposed, "That, notwithstanding anything in Standing Order No. 15, the Reports of Supplementary Estimate for New Services, Army and Army Ordnance Factories Excess Estimates, 1914–15, and Navy Excess Estimate, 1914–15, may be considered before Ten of the clock this day, and that the Proceedings on Government business be not interrupted this night under the Standing Order (Sittings of the House), and may be entered upon at any hour though opposed."—[The Prime Minister.]
§ Sir FREDERICK BANBURYI would be much obliged to the right hon. Gentleman if he would tell us what business he proposes to take to-day after Supply? I understand that it is proposed to take Order 8, Municipal Savings Banks (War Loan Investment) (No. 2) Bill, which is on the Paper. I must protest against that being taken at a late hour of the evening, as it involves a very important principle. I am glad that the right hon. Gentleman the Chancellor of the Exchequer is present, because I desire to reaffirm a statement which I made about this Bill the other day, as to the opposition of the bankers of London. The right hon. Gentleman is aware that the Governor of the Bank of England himself came down and saw him and the Financial Secretary on Wednesday last, and objected to this Bill being taken.
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)All I can say is that after the statement of the hon. Baronet, I had occasion to sec the representatives of the bankers, who told me that their attitude with regard to the Bill was not in the least changed from the attitude which they adopted when the Bill was introduced. There was a Bill with the same title, No. (1) Bill, introduced earlier in the Session. The bankers made representations to me against that Bill, and I accepted their view and withdrew the Bill. Subsequently I saw the representatives of the bankers again, and told them that we had decided to proceed with a Bill dealing with the subject, and would do our best to meet their views. The Bill was drafted after consultation with the bankers, and the bankers' secretary wrote 1660 to me to say that they would not oppose the introduction of the Bill. I have seen the bankers personally, and they told me quite frankly that while they did not like the Bill, they would not oppose it; that they particularly wished that it should not be thought in the House of Commons that they were taking up an active line in opposition to a particular measure, because they thought that these measures were the business of the House of Commons and not their business. I asked them if they had seen what had taken place in the House—my right hon. Friend will forgive me, as it is a delicate matter to refer to, but they did not agree that he had any authority to speak on their behalf in opposition to the Bill. Their attitude is quite simple. They did not like the Bill, but they would not oppose it. That is the statement made to me on behalf of the bankers, both in writing and personally, and I hope that on that statement the House may be assured of the desire of the bankers that the Bill should be considered on its merits, and as they expressed it, without any dictation from them.
§ Question put, and agreed to.