HC Deb 07 June 1875 vol 224 cc1466-7

asked the Under Secretary of State for India, with reference to an advertisement offering the guarantee of His Highness the Nizam of Hyderabad for the payment of six per cent interest on money to be raised in this country, Whether, under the provisions of 37 Geo. 3, c. 142, s. 28, Her Majesty's Indian Government has accorded to any British subjects a consent in writing to this transaction; whether the Indian Government has in any degree become responsible for the payment of the money guaranteed; and, whether there is any ground or any expectation that, in the event of the Nizam at any time failing to pay, the Government of Her Majesty will interfere to cause payment to be made; or whether parties who advance money on the credit of the Nizam do so entirely at their own risk, the Nizam not being liable to be sued for a debt in any British Court?


Sir, the Secretary of State for India has been advised that, taking into consideration all the circumstances connected with the formation of the company in connection with which the Nizam of Hyderabad has guaranteed the payment of 6 per cent interest on money raised in this country, there is no danger of any of the contingencies referred to in the question of the hon. Baronet occurring.


said, that on Thursday next he would ask for the production of the opinion which the Secretary of State had received as to the legality of the transaction in question.