§ MR. HUMEwished to put a question to the noble Lord. He had seen in the papers of to-day, that a loan had been contracted for in the old 3 per cent stock. If this statement were correct, and this measure were adopted, it would have an injurious effect upon the finances of the country, and, as he had shown on a former occasion, be attended with a loss to the country. If we were to get only 90l. for 100l. stock, it would be better to borrow the 8,000,000l. at the ordinary rate of interest, than to add in this manner to the 544 capital of the debt. He hoped the noble Lord would alter his plan.
LORD J. RUSSELLsaid, the subject had been fully considered, and according to the best information which the Government could obtain, they considered that the present mode of contracting for the loan would procure much better terms for the public than any other.