§ Order of the Day for the Second Reading, read.
§ EARL SPENCER,in moving that the Bill be now read a second time, explained that its object was to enable the Government to make different arrangements with regard to savings banks, as, during recent years, there had been a loss on the investments.
§ Moved, "That the Bill be now read 2ª."—(The Lord President.)
LORD DENMANsaid, that he was extremely glad that the debt by the savings banks would be extinguished by this Bill; but he thought that the reduction of interest for the future would do harm, because the gratuitous services of managers were so valuable that they justified the Government in giving the increase, instead of paying for additional services to the Post Office, for extra work cast upon it, by too great extension of the Post Office Savings Banks.
§ Motion agreed to; Bill read 2ª accordingly, and committed to a Committee of the Whole House To-morrow.