COMMITTEE. (Hansard, 30 June 1863)

§ THE CHANCELLOR OF THE EXCHEQUER
moved to Resolve— That it is expedient to guarantee the repayment of any money that may be borrowed under the provisions of any Act of the present Session for the purpose of the Main Drainage of the Metropolis; together with the interest thereon; and, for the purpose of giving effect to such guarantee, it shall be lawful for the Commissioners of Her Majesty's Treasury to cause advances to be made, out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, of such sums as may be necessary for the repayment of such principal and interest, in aid of any other monies applicable for that purpose under the said Act. The Resolution had become necessary under the following circumstances. The sum originally authorized by Parliament was secured by a 3d. rate extending over forty years. Since 1858 a very large increase had taken place in the cost of materials and labour. The additional cost would amount to £1,200,000. The Metropolitan Board of Works was limited in point of time for the construction of the works, so that they would probably be in a state of exhaustion in February next. The sum already authorized by the Act to be borrowed was £3,000,000. The additional sum now asked for was £1,200,000, making £4,200,000. The main drainage rate of 3d. in the pound would produce in forty-five years £7,500,000; and after deducting the charge for interest, there would be left £4,500,000, which would leave £300,000 to spare; but the value of property subject to assessment was constantly increasing, and he did not think there was any fear that the Government Would be called upon for anything.

§ SIR HENRY WILLOUGHBY
hoped that the Metropolitan Members would give attention to this Bill, as some, of the proceedings of the Metropolitan Board of Works were rather extraordinary—as, for instance, the emptying the sewage into the River Lea.

§ MR. ADDERLEY
did not see how the present enhanced price of labour and materials should affect the expenditure of the past.

§ MR. HUNT
said, they were discussing the question in the dark, and it would be better if papers were laid on the table, so that they might discuss the matter on the second reading.

MR. LYGON
thought, that although the increased cost of labour at the present time might account for future increase, it would not account for increase in the past expenditure.

§ THE CHANCELLOR OF THE EXCHEQUER
said, that he was not prepared to defend all the estimates of the Metropolitan Board of Works.

§ MR. LOCKE
asked how much of the work remained to be done.

§ MR. TITE
said, that three-fourths of the drainage on the Northern side was completed, and a large portion of the drainage on the South side was well advanced. The increase in the price of labour and material began almost as soon as the works began.