HC Deb 08 May 1879 vol 245 cc1958-9

asked the Under Secretary of State for India, If he can explain why the Notification of the Government of India, dated 13th March, 1879, inviting tenders up to 12th May, 1879, for a Four-and-a-half per cent, loan of five crores of rupees payable at the Presidency Towns in India has not been advertised in London in accordance with previous practice; whether any measures have been or will be taken to invite and encourage contributions to that Loan in sums small or large at all Treasuries in India; and, whether Her Majesty's Government propose to make every effort to obtain that Loan in India notwithstanding their proposal to take power to raise a Loan of ten millions in this country?


I find, on inquiry, that it is not customary to advertise in London a Notification of the Government of India announcing a Loan to be raised in India, unless that Government requests it. In this case it has not done so. Deposits can be made at any Government Treasury in India, and tenders may be for sums not less than 100 rupees. I can also assure the hon. Member that the Indian Government is making every effort to obtain in India as large a proportion of the loan as possible.