§ MR. ELLICEsaid, he had a Question to put which he had given Notice for last week, but circumstances had then induced him to postpone it. His right hon. Friend the Chancellor of the Exchequer had consented to answer it on the present occasion. He must be allowed to say, in explanation of the Question, that an Act of Parliament had been passed last year similar to another Act previously passed for England, authorizing the Public Works Loan Commissioners to grant loans in Scotland for sanitary purposes at a reduced rate of interest. In order to put Scotland in point of time on a perfect equality with England, the Act gave a retrospective power. It permitted a reduced rate of interest on loans granted subsequently to the passing of the English Act. Applications in consequence were made to the Public Works Loan Commissioners, and the Question he now wished to put was with reference to the statement by the Public Works Loan Commissioners, in reply to applications, that it is not their practice, without the consent of the Treasury, to vary the terms upon which their loans have been advanced; and, Whether it is the intention of the Treasury to consider applications with the view of authorizing the Public Works Loan Commissioners, if they see fit, to exercise the powers so conferred upon them by the Act of Parliament?
§ THE CHANCELLOR OF THE EXCHEQUER,in reply, said, he doubted whether the hon. Gentleman was quite aware of the peculiarities of the position in consequence of the passing of the Act last Session to take away from the Treasury, as far as they could, the power they previously had of reducing by their own authority the terms on which loans might be made by the Public Works Loan Commissioners. They desired to divest the Treasury of that power, and he believed they had done so. The answer of the Public Works Loan Commissioners referred to the practice under the previously existing state of things up to April last; but the Treasury was in communication with the Public Works 873 Loan Commissioners on the subject of advances to Scotland, and he hoped they would arrive at a satisfactory conclusion.