§ MR. T. BARINGsaid, he begged to ask the right hon. Chancellor of the Exchequer whether he would state the amount subscribed for the Exchequer bonds described as Bond A, payable at par on the 8th May, 1858, up to two o'clock on the 8th instant, distinguishing the amount of subscription payable in money and that payable in Exchequer bills; and whether the deposit of 10 per cent was paid before two o'clock on the 8th instant on the whole amount subscribed, and, if not, what was the extent of the deficiency? Also, whether any subscriptions have been accepted for the Bond B, ending on 8th May, 1859, and for the Bond C, ending on 8th May, 1860; and, if so, to what extent for each description? He would explain in a few words the object of Ids question. The House was aware that the Government, in inviting subscriptions for the late proposed issue of Exchequer bonds, offered to sub- 171 scribers the option between two modes of payment—one in Exchequer bills, the other in money. It was, therefore, very desirable, with a view to determining the financial position of the country, to know to what extent the deposit had been paid up, and likewise what amount had been paid in Exchequer bills and what amount in money. It had likewise been published that the subscription would be received up to two o'clock on Monday, the 8th instant. As the Resolution of the House only ratified what had been subscribed up to that time, it was to be presumed, of course, that nothing further had been issued; but perhaps the right hon. Gentleman would afford them some information on the subject.
§ THE CHANCELLOR OF THE EXCHEQUERsaid, he thought that the object of the hon. Gentleman was a perfectly reasonable one, and that he would best promote it, not by endeavouring to answer the question now, but by presenting a return which would give the information in a more exact form than it would now be in his power to supply. It would state what amount was subscribed on Monday, the 8th May, what amount was subsequently subscribed, and what amount had been paid. When he had the honour of addressing the House on Monday night, he was not in possession of accurate information on this point, and he had spoken not quite exactly, having with him a memorandum which had just been put into his hands, and which had been hastily drawn up. The hon. Gentleman would thus see what had taken place with respect to all the points embraced in his question, except as regarded the payment of deposits by a particular hour. He believed that the usual practice was to take the deposit, not to the last hour for receiving tenders, but to the last hour of banking business; and likewise that deposits for small sums were taken on Tuesday morning from parties who had given notice. He thought the hon. Gentleman had not quite correctly stated the effect of the vote of Monday night. He apprehended that the vote of Monday night went to sanction the whole amount of the bonds paid; but that there was a distinct understanding between the hon. Gentleman and himself, that he was not to make any new contract beyond the amount actually agreed upon.
§ MR. T. BARINGThe right hon. Gentleman cannot state generally, then, what the result of the measure is?
§ THE CHANCELLOR OF THE EXCHEQUERcould state that, if it were of interest to the house to be made acquainted with it. He could not state precisely the amount paid in Exchequer bills; but 1,600,000l. was the amount tendered for and paid up to the 8th May, and the remaining 400,000l. had been tendered for since. But he would take care that no contract of any kind should be entered into until the sense of Parliament had been ascertained.