HC Deb 19 May 1874 vol 219 cc530-1

THE CHANCELLOR OF THE EXCHEQUER (for Sir CHARLES FORSTER), moved— That this House will, To-morrow, resolve itself into a Committee to consider the expediency of authorising the Secretary of State in Council of India and the Companies to be amalgamated under the Bill, to carry into effect an Agreement which has been come to between the said Secretary of State and the said Companies, and which is scheduled to the Bill.

MR. FAWCETT

said, he had studied the Schedule to the Bill as carefully as possible. It consisted of 32 closely-printed pages, and he had no hesitation in saying that, so far as his comprehension went, it was one of the most intricate documents he had ever come across. It seemed to him that an arrangement had been entered into which might pro- duce a very important effect upon the revenues of India, and therefore he thought it was only fair that he should beforehand tell the Minister who was responsible for this Bill that it would require very careful examination and close scrutiny before it passed the House.

MR. W. H. SMITH

said, the hon. Member was probably aware that this was simply a Bill to amalgamate two companies which were already guaranteed by the Indian Government. The object was solely to do away with the cost of two separate establishments. No new guarantee of any kind was set up, nor was there any new demand on the revenue of India.

Motion agreed to. Committee to consider the expediency of authorising the Secretary of State in Council of India and the Companies to be amalgamated under the Bill, to carry into effect an Agreement which has been come to between the said Secretary of State and the said Companies, and which is scheduled to the Bill, To-morrow.—(Sir Charles Forster.)