§ Mr. DAVID MASONasked the Chancellor of the Exchequer the reasons for raising the rate of interest on Exchequer Bonds from 5 per cent. to 6 per cent.?
§ Mr. McKENNAThe reason for raising the rate of interest on Three Year Exchequer Bonds was to encourage subscriptions to these bonds in preference to Treasury Bills, the rates of discount upon which were concurrently reduced to 5½ per cent.