HC Deb 10 July 1855 vol 139 c674

Some time since I ventured to put a question to the noble Lord at the head of the Government with respect to the rumoured guarantee of a loan to the Turkish Government. At that time the noble Lord gave me an answer which, although it did not deceive me, conveyed an impression which I think was erroneous. As a projet da loi has been presented to the French Chamber, perhaps the noble Lord will be good enough now to answer—first, whether the Government is about to guarantee a loan to the Sultan? And, secondly, when and in what form the noble Lord will bring that question before the House of Commons?


At the time I was asked the question by the hon. Gentleman I was not in a position to give any other answer than the one I gave. Since that period a treaty has been agreed to between France and England on the one hand, and the Sultan on the other, by which the Governments of France and England make certain engagements with regard to the loan of 5,000,000 l. which the Sultan is about to raise. On the part of this country, Her Majesty engages to recommend to Parliament to guarantee one half that loan—the other half to be guaranteed by France. It will be a joint guarantee of England and France, and, of course, half the obligation will apply to one, and half to the other nation. The treaty is not yet actually signed; but as soon as the ratifications have been exchanged it will be laid before Parliament, and application will be made to enable Her Majesty to fulfil the provisional engagement into which She has entered.


I beg to ask whether any provision will be contained in the Bill with regard to the employment of the proceeds of the loan for military purposes?


An arrangement will be made between the Governments to take care that the receipts of the loan shall be applied to military purposes, for which the loan is to be raised.