§ MR. BAXTERsaid, he had to ask if the attention of Her Majesty's Government had been called to the contract entered into with the Atlantic Steam Navigation 654 Company to carry the mails between Galway and the United States, and whether they consider it advisable in the interest of the public that the said contract should, under certain conditions, be cancelled?
§ THE CHANCELLOR OF THE EXCHEQUERsaid, the attention of Her Majesty's Government had been called to the contract entered into with the Atlantic Steam Navigation Company for carrying the mails between Galway and the United States; but the Government had not arrived at any conclusion with regard to the latter part of the question, namely, "whether they considered it advisable in the interest of the public that the said contract should, under certain conditions, be cancelled." But in regarding this question, Her Majesty's Government had necessarily had under their view other proceedings with respect to contracts, and indeed the whole course of proceedings with respect to these contracts which had grown imperceptibly into a system; and the Government were of opinion that with respect to that system it would be very desirable that it should be bought fully under the impartial view of the House of Commons, and that the House should, without the smallest prejudice to any particular instance, have an opportunity of examining the whole matter for the purpose of giving their advice upon it. He would, therefore, give notice that on Thursday he would move the appointment of a Select Committee to inquire into the manner in which contracts extending over periods of years had from time to time been formed or modified by Her Majesty's Government with various Steam Packet Companies for carrying the mails beyond the limits of the United Kingdom; likewise to inquire into any agreements or other arrangements which had been adopted at the public charge, actual or prospective, for purposes of telegraphic communication beyond seas, and to report their opinion thereon to the House, together with any recommendations as to rules to be observed hereafter by the Government in making contracts for services which had not yet been sanctioned by Parliament, or which extended over a series of years.
§ MR. BAXTERsaid, he wished to ask whether any Vote would be taken in the present Session?
§ THE CHANCELLOR OF THE EXCHEQUERsaid, that did not form any part of the plan. Under the plan, as it stood, it would be the first vote that would be asked in the next Session of Parliament.
§ MR. MONSELLsaid, he wished to ask whether it was any part of the condition on which this contract was made that any portion of the subscribed capital should be paid up; if so, what amount, and whether the condition had been complied with?
§ MR. LAINGsaid, that the late Government, before they entered into the contract with the Galway Company, had made a condition that a certificate should be supplied shewing that the whole capital of the undertaking and the amount was paid up. The whole capital was £500,000, and they had received a certificate from the secretary of the company that a capital of £212,490 had been subscribed, of which £169,447 had been paid up. Of that amount £151,000 consisted of paid-up shares, taken in part payment of ships purchased by or to be built for the company. This left an amount of £61,450 of subscribed capital, of which £18,447 was paid up as representing the money subscription at the date of that certificate, namely, the 15th of April last. What had been done since that date he had no means of knowing.