HL Deb 05 August 1904 vol 139 cc1096-7

My Lords, I beg to ask His Majesty's Government the Question standing in my name—namely, whether they will communicate to the House the uses to which the deposits in the Post Office Savings Bank have been put.


The deposits in the Post Office Savings Bank are invested by the National Debt Commissioners, and a Return of the securities held by them on account of the Post Office Savings Bank on 31st December is printed annually in the Postmaster - General's Report—a Parliamentary Paper. The Report for this year will be issued in a few days, and I shall be glad to send the noble Earl an advance proof if he wishes to see it. The securities must be Government stock or securities guaranteed by Government. The policy of extending the area of investment is considered and condemned in Paragraphs 6 and 7 of the Report of the Select Committee on Savings Banks Funds, presided over by Sir Michael Hicks Beach in 1902.

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