HC Deb 12 June 1856 vol 142 cc1388-91

Order for Third Reading read.

SIR JOHN PAKINGTON

reminded the House that these loans were made to the West India proprietors to meet an emergency which had occurred twenty years ago. The estates of these proprietors had much deteriorated in value in consequence of recent legislation, and the proprietors deserved the lenient consideration of Parliament. In the case of Ireland, the loan of £ 1,000,000 had on one occasion been remitted; and he appealed both to the generosity and the justice of the Government, that they would not press unequally on different colonies for the payment of the loans. He had heard that the Government were intending to impose less favourable terms on the colony of St. Lucia than on Dominica. If such was the case he should regard the arrangement as most unjustifiable. He had heard that this inequality arose from some accident of difference in the laws of Dominica; but he protested against the Imperial Parliament maintaining such an inequality. The present Secretary for the Colonies had stated that he desired to do justice, and he appealed to him to give effect to this expression of feeling.

MR. HANKEY

called attention to the second clause, which provided that if one-tenth of the loans were paid up, the same terms should be allowed for the payment of the balance in ten annual payments. What he wished was that the term for repayment should be twenty years instead of ten, which would be a great boon to the proprietors, and prevent many of them losing their estates altogether.

MR. WILSON

observed that the loans were made in 1834, on condition that the interest should be paid annually, and that the principal should be repaid in ten years. But from 1848 to 1854 no repayments of capital had been made. In 1854, the repayments again commenced, and the object of the Bill was to extend the period for the liquidation of the balance. The matter was managed by Commissioners in the colony, who were empowered to accept any sum less than the original loan, provided it could be shown that the property on the security of which the advance had been made would not realise the amount lent; and in all cases where the property was less in value than the Government claim, this had been done, and a reduction made from 25 to 30 per cent. With regard to Dominica, many of the loans had been compromised for very small sums, but invariably on the recommendation of the Commissioners; and with regard to St. Lucia, several instances had occurred where the Commissioners were prosecuting the claims, but only one where any appeal had been made to the Government. The circumstances of that one, which it was known had been made with great pertinacity and perseverance during the last four years, were these. The loan had been advanced on the security of three estates, either of which the Commissioners reported was equal in value to the Government claim upon the whole three, and the only ques-was, whether they should proceed to recover upon the three, or upon one. The creditors on the three estates contended it was only fair that the Government should apportion its debts between the three, and to leave the remainder in each case for the general creditors. He would only say that the wish of the Commissioners, in which they were supported by the Treasury, was to enforce their claims as legally as possible, and with every due regard to the interest of the proprietors. It was of the greatest importance to the islands that this debt should be paid off, for as long as it remained it would prevent the introduction of capital, and he could assure the right hon. Gentleman that, wherever the claim of the Government was greater than the fair value of the estate, they would be prepared and ready to accept a, compromise; but the right hon. Gentleman should recollect that the Treasury were acting under an Act of Parliament, and should protect the interests of the public. In answer to the appeal of the hon. Member for Peterborough (Mr. T. Hankey), he was happy to be able to state that conferring with the Commissioners, on reading a very able despatch of Mr. Hincks, the Governor of Barbadoes, the Treasury had come to the conclusion that they might extend the time for repayment from ten to twenty years, and this Bill was to enable them to grant a longer period than the existing law allowed.

MR. LABOUCHERE

said, that he had not answered the question of the right hon. Baronet, as he considered the matter was one for the decision of the Treasury; but he hoped the answer his hon. Friend had given would show that the Government were prepared to act in a spirit of fairness and liberality. He quite agreed with the right hon. Gentleman that it was impossible to mention the case of the West India proprietors without feeling the deepest sympathy for their sufferings; but at the same time it would be most inexpedient and unjust, after several estates had been sold to satisfy this demand of the Government, to deal differently with the few estates that still remained subject to the charge. He could assure the right hon. Baronet he had done everything in his power, in a fair and legitimate manner, to relieve the pressure on the colony of St. Lucia as a community, but he was convinced that it was for the interest of the island that those estates which are hopelessly involved should change hands. When his right hon. Friend the present Home Secretary held the seals of the Colonial Office, he had given directions that a Committee of the most trustworthy inhabitants should be appointed to consider the expenditure. The report had been sent home since he (Mr. Labouchere) had accepted the seals. He had adopted all the principal recommendations of the Committee, and had even gone further. It appeared to him that in a small island like St. Lucia, considering the improved means of communication, the services of a Lieutenant Governor might he dispensed with, and the island placed under the immediate control of the Governor of Barbadoes. He consulted Mr. Hincks, in whose energy and ability he had the greatest confidence, and as he had expressed his willingness to undertake the task, he had taken advantage of the first opportunity to remove the Lieutenant Governor, and thereby effect a saving of£1,300 a year. The right hon. Gentleman would, therefore, he hoped, be satisfied that no considerations of Government patronage had been allowed to stand in the way of any reduction which could with propriety be made in the island of St. Lucia.

Bill read 3°and passed.