§ LORD GEORGE HAMILTONasked Mr. Chancellor of the Exchequer, If he could state the exact amount by which the payments out of the Egyptian Exchequer will exceed the receipts and balances during the month of April; and also specify the nature of such payments?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. CHILDERS)The noble Lord will, perhaps, on reconsideration, see that one expression in his Question is a little unreasonable. Even in this country I could not state the exact amount by which the payments out of the Exchequer will exceed or fall short of the Revenue in a particular month to come, and I certainly cannot give such an exact statement with regard to Egypt. But, after the Question which the noble Lord put to me yesterday, I asked Lord Granville to telegraph to Sir Evelyn Baring for the probable financial position of the Egyptian Treasury in April; and I find that the deficit, after exhausting the balance in hand on March 31, will be about £310,000. The chief items are the payment on account of deficiency on the Domain Loan, the payment of the tribute to Turkey, and the salaries of the Administration. Both of the former payments are obligatory under the laws now in force. These sums do not include the payment of certain advances made to the Egyptian Treasury under Article 37 of the Law of Liquidation of 1880. Some of these will fall due on the 1st of April.
§ LORD GEORGE HAMILTONThere is a matter of great importance in the papers published to-day. There is a statement made that, as regards the Commissioners of Public Debt, they are in possession of a sum exceeding by £200,000 all demands to be made upon them for some time to come. It is also stated by Sir Evelyn Baring that after the month of April the receipts of the Egyptian Treasury will exceed the expenditure up to the month of September. That being so, there only remains this one sum of £100,000; and what I want to ask the Government is, whether, if these be facts, it is outside the financial capacity of Her Majesty's Government to make some arrangement to meet this paltry sum other than prematurely binding this House to a permanent loan of £9,000.000?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. CHILDERS)The noble Lord has evidently not read the Papers. Had he done so he would have observed that the use of the money in the hands of the Caisse is what has been condemned by the unanimous voice of the Powers; and, after being parties to the Convention, we could not, without a violation of the public law, take any money out of the Caisse which is applicable to local purposes. As to the noble Lord's other suggestion, that we ourselves should lend money to Egypt, I am not aware that this House would be prepared to pass an Act for that purpose.
MR. ASHMEAD-BAETLETTIs it true that the Government have promised to a Foreign Power that this question shall be settled before Easter by the House of Commons?
§ THE CHANCELLOR OF THE EXCHEQUERS (Mr. CHILDERS)The hon. Member had better place his Question on the Paper. I certainly have never heard of such a promise.