HC Deb 08 April 1872 vol 210 cc886-7
MR. CUBITT

asked Mr. Chancellor of the Exchequer, Whether in his Finan- cial Statement he mentioned that the reduction of the National Debt between April 1869, and April 1872, was £12,740,000; whether in this sum he included the Stocks of the Bankruptcy and Chancery Funds which were cancelled and converted into book debts within that period; what was the amount of stock so cancelled, and what would be the amount of the debt actually paid off without taking into account the stocks so cancelled; and, whether by reason of this transaction certain contingent liabilities do not rest on the Exchequer?

THE CHANCELLOR OF THE EXCHEQUER

replied, that he had stated in his Financial Statement that the reduction of the National Debt for the last three years was £12,740,000, and had included in that sum the stocks of the Bankruptcy and Chancery Funds, which had been cancelled and converted into book debts within that period. The amount of stock so cancelled was £5,879,882; and, deducting that sum, the amount of the Debt actually paid off, without taking into account the stocks so cancelled, would be £6,860,000. There were certain contingent liabilities incurred by this transaction; but it was not believed that they could reach any considerable amount.