§ SIR H. FOWLER (Wolverhampton)
I beg to ask the Chancellor of the Exchequer what amount of Consols has been purchased with Savings Bank Funds, or for the purpose of the Sinking Funds, during the last 10 years; what amount, and at what cost, has been purchased at a discount; and what amount, and at what cost, has been purchased at a premium?
§ THE CHANCELLOR OF THE EXCHEQUER
The amount of Consols purchased during the last 10 years with Savings Bank money and with Sinking Fund money was £112,887,409. Of this, £37,980,400 was bought at or below par prior to the 1st April 1894, at a cost of £37,004,984, or at an average discount of 2.6 per cent.; and subsequently £74,907,009 above par, at a cost of £80,343,249, or at an average premium of 7.2 per cent. The outlays in the Consul market would have been larger had it not been that the Government have been able to effect investments in Local Loans Stock, Irish Guaranteed Land Stock and other Parliamentary securities.