§ MR. CHILDERSsaid, he would beg to ask Mr. Chancellor of the Exchequer, Whether he is aware that the Stamp Duty on the transfer of the Debenture Stock of some of the principal Railway Companies is 6d. per cent, and in other cases 10s. per cent; and whether, considering the large amount of such Stock now being created, he will propose to Parliament the imposition of a uniform Transfer Duty?
§ THE CHANCELLOR OF THE EXCHEQUERSir, I have only become acquainted since the Question of my hon. Friend was put that there has been inserted a provision in two private Acts of Parliament passed in 1856 and 1861, by which the companies interested escaped the 10s. duty for a duty of 6d. The matter has 1228 been contested by the Inland Revenue in a third case, that of the South Western Railway, and that company has given up the claim. The provision crept into these Acts, as provisions will sometimes creep into Acts that are not public Acts, because they have not been overlooked by the public authorities. I am glad my attention has been called to the matter, for these provisions ought to be repealed. As to the alteration of the duty, I should wish to have further time to consider it, and if I make a proposition I will do so in the general measure passed every Session regulating the affairs of railways.