§ Mr. LEES SMITH
asked the Chancellor of the Exchequer whether any attempts have been made to commute the perpetual pensions of Earl Nelson, the heirs of the Duke of Schomberg, and Seignor d'Auver-querque; and, if no such attempts have been made, whether he will state the reason?
§ Mr. LLOYD GEORGE
In view of the opinion expressed by the Select Committee of 1887 the Treasury has not felt justified in considering the question of commuting these pensions on terms more favourable to the annuitants than twenty-seven years' purchase. Inquiries have been made since that date by the holders of the two pensions first named, but upon being so informed they have not proceeded further in the matter. The D'Auver-querque pension now belongs to the Bank of England, having, as I understand, been acquired by them upon terms which would make it impossible for them to entertain an offer of commutation on the basis above indicated.