§ 25. Mr. KINGasked the Postmaster-General whether he has considered the system of Post Office current accounts and postal cheque payments introduced in Germany since the War; whether he is aware that by these means the amount of outstanding Reichsbank notes has been reduced, the issue of current coin restricted, and all classes supplied with the advantages of banking facilities; and whether similar methods are contemplated to ease the currency and relieve financial and commercial stringency in this country?
The ASSISTANT POSTMASTER-GENERAL (Mr. Pike Pease)The postal cheque system was introduced in Germany some years before the War, namely, on 1st January, 1909. The conditions in this 1175 country are different; the banking system is more widely extended, and, in view of the extensive use of cheques and postal orders for remittances, it is doubtful if there would be much demand or scope for the system suggested.
§ Mr. KINGIs the hon. Gentleman not aware that Germany has since the War largely developed its postal cheque system, and has given popular banking facilities which gets a great amount of current money into the hands of the Government?
Mr. PIKE PEASEI understand that the system to which the hon. Gentleman refers was inaugurated on 1st January, 1909. I will have inquiry made with regard to the other matter.