HL Deb 18 March 1861 vol 161 cc2152-3

Order of the Day for the Second Reading read.

LORD STANLEY OF ALDERLEY,

in moving the second reading of this Bill, explained that in 1859 a Bill passed by which the then Government undertook to guarantee 4½ per cent on an expenditure of £800,000 for fifty years, conditionally, as was understood, on the line being laid and handed over in working order. In consequence of certain disputes which had arisen with the contractors, the law officers of. the Crown were called upon for their opinion, and they stated that under the terms of the contract the Government were not bound to pay this money, and not only were not bound to pay it, but would not be justified in paying it. Whether the contract as entered into was an improvident and unwise one their Lordships bad not now to consider. The question was now one of good faith, and it was the duty of the Government to see that the persons who entered into the contract should not be prejudiced by the technical difficulties which had arisen. A Bill was, therefore, introduced into the other House, declaring that the guarantee was not intended to be and is not conditional on the line of telegraph of the company being in working order; and to that Bill he hoped their Lordships would now give a second reading.

Motion agreed to; Bill read 2a accordingly, and committed to a Committee of the Whole House Tomorrow.

House adjourned at a quarter after Seven o'clock till To-morrow, halt-past Ten o'clock.