HC Deb 11 February 1852 vol 119 cc399-400
MR. CORNEWALL LEWIS

moved that the House resolve itself into a Committee of Supply.

House in Committee.

MR. HUME

wished to know what had been the rate of interest which the Exchequer Bills had borne during the last year?

MR. CORNEWALL LEWIS

replied, that the rate of interest during the last year had been 1½d. per diem.

MR. HUME

would merely ask, further, whether the time had not come when the state of the money market would not admit of a lower rate of interest?

MR. CORNEWALL LEWIS

said, in the absence of his right hon. Friend the Chancellor of the Exchequer, he could not give an answer to the question of the hon. Member for Montrose.

MR. W. WILLIAMS

would submit that the time had come when the public were entitled to have the interest on Exchequer Bills materially reduced; and said he must express his regret that the right hon. the Chancellor of the Exchequer was not in his place to explain the course he intended to take in the matter.

MR. CORNEWALL LEWIS

said, his righ hon. Friend the Chancellor of the Exchequer was unavoidably absent from the House in consequence of being required to attend the Council to-day.

MR. W. WILLIAMS

thought the House ought to be informed at what rate of interest the Exchequer Bills under consideration were to be reissued.

MR. CORNEWALL LEWIS

said, the Vote he asked the Committee to come to did not at all bind them with regard to the interest, but merely related to the making good those Exchequer Bills which had been already issued.

MR. HUME

said, he would avail himself of the opportunity on the bringing up of the Report of the Committee, to ask for information respecting the rate of interest.

"Resolved—That a sum not exceeding 17,742,800l. be granted to Her Majesty to pay off and discharge Exchequer Bills, charged on the Aids of 1852 unprovided for."

House resumed.