§ SIR WILLIAM M'ARTHURasked Mr. Chancellor of the Exchequer, Whether, considering the security now offered and the position held in the Money Market by Colonial Government Stocks, opportunity may be afforded to trustees by means of such legislative enactments, and under such restrictions, as may be necessary to make investments therein?
THE CHANCELLOR OF THE EXCHEQUER (Mr. OHILDERS)In reply to my hon. Friend, I have to say that this Question concerns the Lord Chancellor far more than myself, and that I propose to consult him on the subject during the Recess. Of course, in extending the powers of Trustees to invest in Stocks not named in the settlements under which they act, regard could only be had to the intentions of the settlor; and if the settlements are modern—that is to say, of later date than the Stocks themselves—it would not be proper to allow investments in them. Great care would 1865 also have to be taken not to extend these powers of investment in Colonial Stocks in the interest of the Colonial Governments.