§ MR. DODSONasked Mr. Chancellor of the Exchequer, What amount of the sum of £77,448 11s. 2d., which Her Majesty's Government were obliged to provide for interest and commission, in consequence of the default of the Turkish Government to pay the dividend due in February 1878 on the Turkish Guaranteed Loan of 1855, specially charged upon the Egyptian Tribute, has been received from the Turkish or Egyptian Government, and the date of any such payment; whether Her Majesty's Government has been called to make provision for any subsequent dividends on this Loan; and, if so, to what amount; whether the French Government has in any case paid one moiety of the sum or sums issued to make good the default of the Ottoman Government; and, whether he will lay upon the Table of the House any Correspondence with the French, Turkish, or Egyptian Governments upon the subject?
§ THE CHANCELLOR OF THE EXCHEQUERSir, perhaps the right hon. Gentleman will allow me to answer, without exactly following the order in which the Question is put, as the matter is rather complicated. I think I can give him information as completely in another form. The Turkish Government owes £45,604 on the dividend due on the 1st of February, 1878. Upon the dividend that fell due on the second half of last last year nothing is due. That was paid in full. But it owes £60,600 on the dividend that was due on the 1st of February, 1879, making a total arrears of £106,204. These two sums have been advanced from the Consolidated Fund, besides a small sum for expenses due to the Bank. But, though the Porte is in default by this amount, it should be added that it ordered the Khedive in February, 1878, to pay out of the tribute then due to Turkey the sum of £45,604, and that, under old standing arrangements, the sum of £36,000 should have been provided by the Khedive towards the dividend due on the 1st of February, 1879. Thus, the total sum due is£106,204, towards which the Khedive should pay £81,604. As, however, there seems no prospect of early payment, the Treasury are applying to the French Government to repay the moiety due by them under 1434 Treaty. The Correspondence is not yet in a complete state, and it would not be convenient at present to lay it on the Table of the House.
§ MR. DODSONMay I be allowed to ask a Question which is not on the Paper? Has the Khedive paid the interest on the Suez Canal Shares?
§ THE CHANCELLOR OF THE EXCHEQUERI think so. If I find I am wrong, I will correct it. My impression is that he has paid.