asked the Chancellor of the Exchequer who or what type of subscriber applied for the most recent £300,000,000 3 per cent. war loan; and whether such subscriptions were quantitively from genuine savings or from bank-created credit?

In reply to the first part of the Question, it is not the practice, and would not be desirable in the public interest to publish information relating to subscriptions to Government loans. As regards the second part, as stated in the reply given to the hon. Member for the St. Rollox Division (Mr. Leonard) on 12th March, any credit given by the banks to facilitate subscriptions would be confined to temporary acommodation for a quite short period.

As I did not hear the first part of the answer and do not understand the second, may I ask the right hon. Gentleman, in view of the repeated assurances which have been given that the war will be financed out of the genuine savings of the people, to what extent he proposes to do so?

I cannot add anything to my answer.