§ Lieut.-Colonel Elliotasked the Secretary of State for Scotland whether his attention has been drawn to proposals for the abolition of the Scottish banknote issues; and whether he will give an assurance that no such step is contemplated in view of the fact that these issues are of great practical advantage to Scotland, in addition to having important historical and constitutional significance?
Mr. JohnstonI am aware that proposals of the nature indicated in the Question have recently appeared in one of the London financial organs. The issue 1227W of banknotes in Scotland is regulated by the Act of 1845 and by subsequent legislation. I can assure my right hon. and gallant Friend that in the event of any proposals for amendment of the law on this subject ever being reviewed by the Government the considerations outlined in the Question will certainly not be forgotten.