§ Mr. Sharpasked the Financial Secretary to the Treasury where Treasury Chests are now in existence; by whom they are operated; from what sources they derive their revenues; and for what purpose these are expended.
§ Mr. Glenvil HallThere are at present five Treasury Chest Stations in action—those at Bermuda, Ceylon, Gibraltar, Malta and Jamaica. (Formerly there were stations at Hong Kong and Singapore which came into enemy occupation during the war and have not since been reopened.) The Chests are operated by the Treasury Chest Officers, who are normally the. Army Command Paymasters. The Treasury Chest is a capita] fund of38W £700,000 (fixed by Statute) placed at the disposal of the Treasury for the purpose of supplying funds for the public service at certain places abroad in order that the provision of funds for the Fighting Services at those places may be in the hands of one man (the Treasury Chest Officer) under the direction of the Treasury instead of being dealt with separately by each of the Services. Currency is raised locally by the Treasury Chest Officer by telegraphic transfer or by bill of exchange on London or, e.g., by taking over, against adjustment in London, available funds of the local Government, which may be seeking remittance. But as no expenditure may be charged finally to the Fund all payments to or advances from the Treasury Chest stations abroad are subsequently adjusted in London between the Treasury and other Departments concerned. Any profits on exchange made by the Treasury Chest Fund are surrendered to the Exchequer, and any losses are covered by Vote of Parliament