§ 66. Sir WILLIAM DAVISONasked the Chancellor of the Exchequer whether he will state the date fixed for the next draw of Victory Bonds; where and by whom the draw will be made; what is the nature of the arrangements for mixing and drawing the numbers; and whether the public who have participated in this national lottery will be admitted to witness the draw?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Duff Cooper)The next drawing will take place on the 17th June at the Bank of England, in the presence of representatives of the Treasury, the National Debt Commissioners, and the Bank. The procedure is as laid down in Regulations made by the Treasury under the War Loan Act, 1919, and published in the London Gazette of the 1st June,1920.The answer to the last part of the question is in the negative. I should add that according to the highest legal authority the drawing of Victory Bonds does not constitute a lottery. I presume that my hon. Friend has appreciated that whereas the market price of the bonds is about 116 the drawn bonds are paid off at 100.
§ Sir W. DAVISONIs my hon. Friend aware that that was the exact point of the question and that every person who draws one of these bonds loses £16,and is it not desirable that the public should at least have information as to the nature of the draw?