MR. MOFFATTsaid, he would beg to ask Mr. Chancellor of the Exchequer whether any guarantee has been promised to the Atlantic Telegraph Company; and, if so, whether he is prepared to state the nature and terms of that guarantee. He also wished to know whether the United States' Government were parties to the guarantee.
§ THE CHANCELLOR OF THE EXCHEQUERsaid, the Atlantic Telegraph Company originally required an unconditional guarantee, which the Government declined to give; but recently the Government offered to give them a guarantee upon certain conditions. Those conditions, he believed, were still under the consideration of the Atlantic Telegraph Company, and when they were accepted (if they should be accepted) it would be more convenient to him to describe them to the hon. Gentleman.
MR. STUART WORTLEYsaid, he wished to ask whether the Chancellor of the Exchequer had any objection to state whether or not the Government, before offering to give any assistance to the Atlantic Telegraph Company, asked them to surrender the exclusive right of laying marine cables along the coast of Newfound land.
§ THE CHANCELLOR OF THE EXCHEQUERsaid, the statement of the hon. Gentleman was correct. The Government did ask for such surrender.