§ Bill considered in Committee.
§ GENERAL SIR GEORGE BALFOURmoved, after Clause 2, to insert the following clause:—
(Particulars to be laid before the House as to proposals for composition of debts.)No proposals to enter into any composition of any debts due on any locality shall be accepted by the Public Works Loans Commissioners until within one month after laying upon the Table of the House such a selection of the Papers relating to the Loan as will show, first, the of the Commissioners who granted the Loan; second, the conditions on which granted; third, the measures previous to agreeing to the Loan to inquire into the validity and amount of the rates mortgaged for its security, and as to the propriety of taking or dispensing with personal security; fourth, the inquiries made into the sufficiency and soundness of those securities to ensure the due and regular payment of the instalments with interest; fifth, the measures taken since the first default, to enforce the rights of the public both over the mortgaged rates, and to hold the individuals or authorities who obtained the public money responsible for the debt; and, sixth, an explanatory report as to the sufficiency or insufficiency of the powers given in 'The Public Works Act, 1875,' to protect in the past the interests of the public, and in what respects needing amendment for the future loans, and only after the papers have remained upon the Table of the House for the one month without objection, that the debt may be then settled.
§ MR. W. H. SMITHopposed the clause, and said the object could be attained in an equally effective and less objectionable manner.
Clause, by leave, withdrawn.
Bill reported, without Amendment; to be read the third time To-morrow.