HC Deb 03 August 1877 vol 236 c408

Order for Second Reading read.

Mr. W. H. SMITH,

in moving that the Bill be now read a second time, said, that its clauses had been most carefully considered, and that it would render great benefit to the Colonies. It proposed to authorize the Colonies to issue stock in this country under very carefully-considered regulations, and to en- . able a register of these stocks to be kept in London. It was a measure which was very earnestly desired by the Colonists.

In reply to Questions from Mr. Monk, Sir Andrew Lusk, and Mr. Parnell,

Mr. W. H. SMITH

said, the Bill would involve no charge on the Imperial revenue. Provision was made that the holders of the stock should have the most complete notice that it was to be issued on the security of the Colonies only, and that the Imperial Government would be in no way responsible for it. The provisions of the Bill were limited solely to stock issued on the responsibility of the Colonial Government.

Motion made, and Question proposed, " That the Bill be now read a second time."—(Mr. W. S. Smith.)

Motion agreed to.

Bill read a second time, and committed for To-morrow.

The House suspended its Sitting at Seven of the clock.

The House resumed its Sitting at Nine of the clock.

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