The Bradbury Committee (1928)
In 1926, the Chancellor of the Exchequer (Winston Churchill) appointed a committee to consider whether it was desirable to permit
a further extension of Municipal Savings Banks, and if so, within what limits and subject to what conditions, statutory or otherwise.
The Chairman of the Committee was Lord Bradbury, and the composition of the Committee was detailed in a Minute of Appointment
September 28th 1926. The report was produced in January 1928.
Lord Bradbury (1872-1950) was Secretary to the Treasury (1913-1919),
and later principal British representative on the First World War Reparations Commission in Paris. He filled many important posts
in the financial world, and undertook many investigations on behalf of the Government; but was perhaps better known to the public
in connection with the issue of Treasury £1 and 10/- notes in 1914 ("Bradbury's") that bore his signature.
The conclusion of
the Bradbury Committee was that "in view of the present position of national finance the extension of municipal savings banks within
the next ten years would not be in the interests of the community as a whole". The full report of the Committee is reproduced below.