§ 72. Mr. R. McNEILLasked the Chancellor of the Exchequer whether he will allow tenders for Treasury Bills to be made direct instead of, as at present, only through London bankers?
§ Mr. BONAR LAWThis proposal has been carefully considered, but I do not think it would be desirable to adopt it.
§ Mr. McNEILLIs my right hon. Friend aware that an important firm, on tendering for a large amount of Treasury Bills, sent a cheque for the full amount on application, and that it was returned with the intimation that applications must be made through a bank, and in such cases does not the Exchequer lose by the amount of commission paid to the banker?
§ Mr. BONAR LAWIt is obvious that in a particular case like that it would be an advantage, but there are other considerations which I do not think I could possibly deal with by question and answer.