§ LORD ELCHOsaid, he wished to ask the Secretary to the Treasury, Whether it be the intention of the Government to grant a Subsidy of £5,000 per annum, or any other sum, to the "Company of African Traders (Limited);" if so, upon what conditions the Subsidy will be granted, and whether it will previously be submitted to Parliament for approval?
§ THE CHANCELLOR OF THE EXCHEQUERsaid, in reply, that last year an application was made to the noble Lord the Secretary for Foreign Affairs in favour of a subsidy which the noble Lord at first was disposed to decline; but upon subsequent consideration he brought the matter before the Treasury with a recommendation in favour of it. Other papers had reached the Treasury which showed that the Company it was proposed to subsidize was a Company engaged in general trade in competition with all those carrying on commerce between this country and Africa. He (the Chancellor of the Exchequer) had no doubt that this demand ought not to be granted without a great deal of consideration on the part of the House, and ample time being given for all those affected by it to be heard. He had no difficulty in saying that he should make no such proposal during the present Session. He thought, however, it would be advantageous if the Government laid on the table the papers received. That would give hon. Gentlemen an opportunity of seeing the case, but for his own part he thought the objections to the proposal were objections of very great weight.