I beg to ask Mr. Chancellor of the Exchequer whether his attention has been called to the funds among the bankers of England representing unclaimed moneys; what is the approximate amount of such funds; and whether, as such moneys cannot be legally claimed by the bankers, he will consider the advisability of appropriating them on behalf of the State, and, after allowing a sufficient sum to meet any possible liabilities to possible claimants, to set aside the available balances for old-age pensions.
I have no statistics of the amount of unclaimed moneys in the hands of bankers or of other persons or institutions other than Government Departments. The question of appropriating such funds for public purposes has often been considered, but such investigation as has been possible has tended to show that the total amount in question is probably much smaller than is popularly supposed; and, in view of this fact and of the practical difficulties connected with the necessity which would arise for indemnifying those at present responsible to possible claimants against future claims, it has not been thought desirable to attempt to deal with the matter by legislation.