§ 45. Mr. BUTCHERasked the Chancellor of the Exchequer whether the English branch of the Deutsche Bank have yet vacated the premises owned and occupied by them at the commencement of the War which have recently been sold; whether they have taken other premises and, if so, where and for what period and at what rent and under whose authority; and what is the number of the staff now employed by the English branch of the Deutsche Bank and how many of them are alien enemies and how many are British subjects and neutrals, respectively?
§ Mr. BONAR LAWThe London agency of the Deutsche Bank vacated on the 30th April, 1918, the premises in George Yard, Lombard Street, E.C., previously occupied by the bank. Other premises at 9, Bishopsgate, E.C., have been taken, with permission of the Treasury. The tenancy of the new premises has been taken at an annual rental of £4,300 plus lighting, cleaning, and other charges. The number of the staff now employed at the bank is sixty-nine, comprising two enemy subjects, sixty-five British subjects, and two allied subjects. It is impossible for the Controller to provide in his own offices for the necessary strong room accommodation and for the housing of the staff.
§ Sir E. CARSONWhat is the object of moving out of one premises if you take other premises at £4,000 a year?
§ Mr. BONAR LAWThe object of selling the bank premises, as I understand it, was that we should cease to allow it to have the identity which was involved in the possession of its own premises. The continuation of the bank is due, as has been pointed out often, to the fact that the interests of British and Allied creditors make its continuance necessary.
§ Sir C. HENRYWas —
§ Mr. SPEAKERWill the hon. Baronet, instead of whispering the question, speak up?
§ Sir C. HENRYWhere is the necessity, under existing conditions, for this bank to be located in Bishopsgate Street? Could it not carry on its business just as well if premises were rented in some other thoroughfare?
§ Mr. BONAR LAWI am sure my hon. Friend knows that a question of that kind is not submitted to me; it is dealt with by the Controller to the best of his judgment.
§ Mr. BUTCHERCan the right hon. Gentleman say for what period these new premises have been taken?
§ Mr. BONAR LAWNo; I see that the question is asked, but I am sorry to say I have not got the answer.
§ Mr. BUTCHERWill the right hon. Gentleman take care that they are not taken for any period longer than is absolutely necessary for the winding up of the bank in question?
§ Mr. BONAR LAWMy hon. and learned Friend and some other hon. Members are, I think, under a misapprehension about this matter. The action which the Treasury has taken already is clearly in the direction of destroying the identity of these banks, and in that we intend to persist.