§ 50. Sir CHARLES OMANasked the Chancellor of the Exchequer whether, in transferring the currency note issue to the Bank of England, any agreement will be made as to the designer to whom the designing of the new £1 and 10s. notes will be entrusted; and whether the Members of this House will have the opportunity of inspecting and criticising the designs before they are approved?
Mr. SAMUELAs my hon. Friend will appreciate, the preparation of a note issue on a large scale including machinery, paper, and design is a matter of time, and the preliminary arrangements to which he refers have accordingly already been completed.
§ Sir C. OMANAm I to understand that the matter has been settled already and that there is no opportunity for offering any criticism or advice on the subject?
§ Mr. STEPHENMay I ask if the Financial Secretary will supply each Member of the House with so many samples?
§ Mr. AUSTIN HOPKINSONCannot the Bank of England be trusted not to perpetrate such ghastly atrocities as the Treasury notes?
Viscountess ASTORIs it certain that the House of Commons would do anything when it comes to artistic matters?
§ Sir C. OMANAm I to take it that the matter has been settled?
§ Mr. ERNEST BROWN- May I ask whether the signature on these notes will be legible?
§ Mr. WALLHEADAnd much more important that there should be enough of them.
§ 58. Mr. JOHNSTONasked the Financial Secretary to the Treasury whether, in view of the fact that the Bank of England is to be permitted to issue 10s. notes, a similar privilege is to be accorded to the Scottish banks; and, if not, the reason for the discrimination?
Mr. SAMUELThe Currency and Bank Notes Bill introduces no substantial change. Bank of England notes for 10s. will circulate in the same way and on the same footing as 10s. Treasury currency notes have hitherto, and the profits will continue to belong to the Exchequer.
§ Mr. JOHNSTONWould the hon. Gentleman oblige me by giving me an answer to my question?
§ Mr. JOHNSTONIn my question I specifically asked why there has been a discrimination against the Scottish banks in favour of the Bank of England?
§ Mr. JOHNSTONIs it not the case that the Bank of England is now being permitted to issue 10s. notes and that the Scottish banks are being forbidden to issue them?
§ Mr. KIRKWOODAnd we want to know the reason why.
Mr. SAMUELIt has not been considered advisable in the interests of the State to create a new privilege by allowing 10s. Scottish bank notes to be issued.
§ Mr. MACPHERSONIs the hon. Gentleman not aware that the Bank of England has only now been given the power to issue 10s. notes, and that the precedent is a fresh one; and why should we not make the same arrangement in Scotland?
§ Mr. MACLEANIs not the Bank of England now being permitted to issue these notes and to circulate them in Scotland, and why should not the Scottish banks be allowed the privilege of circulating 10s. notes in their own country?