Mr. David Adamsasked the Chancellor of the Exchequer which financial firms or banks are acting on his behalf in issuing and underwriting the new wartime loans; and what is the form and extent of their remuneration?
§ Sir J. SimonApart from National Savings Certificates, the only Government securities so far issued since the war began are the 3 per cent. Defence Bonds. A commission of 1/16 per cent. is paid to banks and stockbrokers in accordance with the provisions of the prospectus. The issue of the bonds was not underwritten.