Treasury Deposit Receipts

Oral Answers to Questions — National Finance – in the House of Commons on 25th April 1944.

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Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Chancellor of the Exchequer what amount of Treasury deposit receipts held by the banks had been converted to long term loans by 15th February, 1944, or near date.

Photo of Sir John Anderson Sir John Anderson , Combined Scottish Universities

The amount of subscriptions to long-term loans—that is, Savings Bonds—covered by repayments of Treasury Deposit Receipts before maturity up to the 12th February, 1944, was £237,000,000.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

May I ask whether, in view of the fact that bringing new money for circulation in this way costs the community a great deal, the right hon. Gentleman will consider raising the money himself instead of leaving it to the banks to do it?

Photo of Sir John Anderson Sir John Anderson , Combined Scottish Universities

I think I answered a Question uncommonly like that last week.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

Yes, but most unsatisfactorily.