§ MR. DISRAELIsaid, he would be glad if the President of the Board of Control could give the House any information respecting the precise nature and security of the loans now being negotiated by the East India Company.
MR. VERNON SMITHsaid, that the loans negotiated by the East India Company had always been made on the security of the revenues of India. The loan was always an open one; the total sum to be raised was specified, and the minimum interest was also stated. On the payment of the loan the Secretary to the Company gave a promissory note, pledging the revenues of the East India Company for the payment of the interest. With that security the creditors had always been satisfied, and he hoped always would be.