The Sun.
London, England, 1861-02-19 00:00:00

The following are the principal provisions of the
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Chancellor of the Exchequer's new measure :
It shall be lawful for the Postmaster-General,
with the consent of the Commissioners of her Mal

jesty's Treasury, to authorise and direct such of
his officers as he shall think fit to receive deposits
for remittance to the principal office in London,
and to repay the same, under such regulations as
he, with the concurrence of the Commissioners of
her Majesty's Treasury, may prescribe in that
respect.
Every deposit received by any officer of the Post- I
master-General appointed for that purpose shall be
entered by him at the time in the depositor's
book, and the entry shall be attested by him and by
the dated stamp of his office, and the amount of
such deposit shall upon the day of such receipt be
reported to the Postmaster-General, and the
acknowledgment of the Postmaster-General, signi-
fied by the officer whom he shall appoint, for the
purpose, shall be forthwith transmitted to the
depositor, and the said acknowledgment shall be
conclusive evidence of his claim to the payment
thereof, with the interest thereon, upon demand
made by him on the Postmaster-General ; and the
entry by the proper officer in the depositor's book
shall also be conclusive evidence of title from the
lodgment of the deposit until the receipt of the said
acknowledgment • provided always that such depo-
sits shall not be Of less amount than ls., nor of any
sum not a multiple thereof.
On demand of the depositor or party legally
authorised to claim on account of a depositor,
made in such form as shall be prescribed in that
behalf, for repayment of any deposit, or any
part thereof, the authority of the Postmaster-
General for such repayment shall be transmitted
to the proper officer forthwith : provided always,
that in all cases where the said demand shall be
made at the place of deposit, the depositor shall
be absolutely entitled to repayment of any sum
or sums he may have deposited on the seventh
day at farthest after his demand shall be lodged
in the office of the Postmaster-General.
The officers of the Postmaster-General engaged
in the receipt or payment of deposits shall not
disclose the name of any depositor, nor the amount
deposited or withdrawn, except to the Postmaster-
General or to such of his officers as may be ap-
pointed to assist in carrying this act into operation.
All moneys so deposited with the Postmaster-
General shall forthwith be paid over to the Com-
missioners for the Reduction of the National Debt;
and all sums withdrawn by depositors, or by par-
ties legally authorised to claim on account of
depositors, shall be prepaid to them out of the said
moneys through the office of her Majesty's Post-
master-General.
If at any time the fund to be created under the
authority of this act by the investment of the
deposits shall be insufficient to meet the lawful
claims of all depositors, it shall be lawful for the
Commissioners of her Majesty's Treasury, upon
being duly informed thereof by the Commissioners
for the Reduction of the National Debt, to issue
the amount of such deficiency out of the Consoli-
dated Fund of the United Kingdom, or out of the
growing produce thereof : —and the said Commis-
sioners of her Majesty's Treasury shall certify such
deficiency to Parliament.
The interest payable to the parties making such
deposits shall be at the rate of £2 10s. per centum
per annum, but such interest shall not be calcu-
lated on any account less than Ll, or some multiple
thereof, and not commence until the first day
of the calendar month next following the
day of depoSit, and shall cease on the first: day
of the calendar month in which such deposit is
withdrawn.
It shall be lawful for the Commissioners of her
Majesty's Treasury from time to time to increase
the rate of interest pay able to depositors,but no such
increase shall make the rate of interest greater
than three pounds and tenpence per centum per
annum ; and copies of all orders made for increasing
the rate of interest shall be laid before both Houses
of Parliament.
Interest on deposits shall be calculated to the 31st
day of December in every year, and shall be added
o and become part of the principal money.