§ Lieutenant-Colonel Sir J. NORTON GRIFFITHSasked the Postmaster-General what was the total amount standing to the credit of depositors in the Post Office Savings Bank on the latest date for which the information is available; and what was the market value of the assets at that time?
§ Mr. ILLINGWORTHThe total amount standing to the credit of depositors in the Post Office Savings Bank on the 31st of March, 1919, was approximately £257,000,000. The annual valuation at market prices of the securities held for the Post Office Savings Bank has been discontinued since 1904. Discontinuance was recommended by the Select Committe on Savings Banks Funds in 1902, on the ground that the valuation was misleading, and effect was given to this recommendation by Section 9 of the Savings Banks Act, 1904.