§ 45. Mr. DAVID GRENFELLasked the Prime Minister Whether the Government is considering means for regulating the conduct of business on the Stock Exchange in order to protect the investing public from irregular practices by company promoters and speculators; and whether he will consider setting up a Royal Commission to inquire into the general conduct of business on the Stock Exchange with the view of preventing wasteful investment and loss to investors?
§ The LORD PRESIDENT of the COUNCIL (Mr. Baldwin)The answer to both parts of the question is in the negative.
§ Mr. GRENFELLIs the Lord President of the Council satisfied that things can remain as they are at the Stock Exchange, and that the events that have been reported in the Press in recent days are to be permitted to continue?
§ Mr. BALDWINI do not know to what the hon. Member refers. Some statement was made in a recent case, and I trust that that statement may at an early date receive the consideration of the authorities of the Stock Exchange; but, with regard to the evils to which the hon. Member refers in the latter part of his question, I would remind him that it is almost impossible by legislation to separate the gentlemen who are anxious to get rich quick, and the gentlemen who are anxious to help them to get rich quick.
§ Mr. GRENFELLIs it not the business of the House to prevent people getting unduly rich at the expense of credulous people who take their word?