§ THE CHANCELLOR OF THE EXCHEQUER
said, that the Atlantic Telegraph Company had made a proposition to the Government some time ago which involved a guarantee. The Government, however, came to a resolution to grant no guarantees orsubsidies upon unconditional terms. Since 858 then, another proposition had been made by the Company, to which the Government had responded, their answer being founded on the principle he had just adverted to. Whether the terms had been accepted upon the conditions offered by the Government he was not at that moment prepared to say. If the hen, Member had given him notice of his intention to put the Question, he should have been prepared with an explicit answer. Any assistance involving a guarantee on the part of the Government, applied for by the Telegraph Company, or any other Company, would only be granted conditionally that the undertaking was in a working state.