HC Deb 29 May 1913 vol 53 cc336-7W

asked the Chancellor of the Exchequer the amount of Consols, Annuities, Irish Land Stock, and other Government securities held by the Post Office Savings Bank as a result of their investments of the sums deposited with them; the average prices at which these securities were taken over as compared with the current market price on the Stock Exchange; what is the depreciation in £sterling between the original cost and present prices; and will he grant a Return giving the information desired?


As regards the first part of the question I would refer the hon. Member to House of Commons Paper 191, of 1912, or to Appendix J of the Report of the Postmaster-General for 1911–12, Cd. 6495, which show the investments at 31st December, 1911. Similar statements for 31st December, 1912, will be published in due course. As regards the remainder of the question, the Select Committee on Savings Banks of 1902 recommended the discontinuance of a valuation of the securities as being misleading, and Section 9 (2) of the Savings Banks Act, 1904, gave statutory effect to this recommendation. To furnish the information desired by the hon. Member would therefore tend to defeat the intention of the Statute in question.