§ SIR G. CAMPBELLI beg to ask the Chancellor of the Exchequer if the Local Loans Stock is over and above the £679,992,000 net liabilities of the State on 31st March, 1891; what is the total amount for which the taxpayers of this country as a whole are ultimately responsible, in excess of that £679,000,000, in the shape of local loans and guaranteed debts; and if he can distinguish those local and guaranteed loans as made or guaranteed for England, Scotland, Ireland, British Colonies and Possessions, and foreign countries?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN, St. George's,) Hanover SquareThe figure of £679,922,000 represents the net liabilities of the State. The net liabilities do not include local loans, where there are corresponding assets. The method of arrival at the net liabilities will be best seen by the hon. Member if he turns to the Return known as that of the right hon. Member for Derby, No. 343, 1890, pp. 4 to 7. On pages 16–17 of the same Return will be found a statement in detail of all the national liabilities of a contingent or indirect 52 character. On pages 134–135 of the Finance Accounts of 1890 will be found the distribution of the loans between the different portions of the Empire.