§ MR. DILLON (Mayo, E.)asked the Under Secretary of State for Foreign Affairs, Whether the Government have any information as to the proposed Conversion of the Daira and Domain debts; and, whether he can give an undertaking that no scheme for the Conversion of 436 these debts will be sanctioned by Her Majesty's Government until this House shall have had an opportunity of forming a judgment on the matter?
§ THE UNDER SECRETARY OF STATE (Mr. BRYCE) (Aberdeen, S.)The outlines of a scheme for the conversion of the Domain and Daira Loans into a new issue of Egyptian Preference Stock have been submitted to Her Majesty's Government by Mr. Edgar Vincent, and are under examination. But the plan has not yet been worked out in any details, and is not in a condition to enable Her Majesty's Government to decide whether it is one which it is desirable to entertain. If adopted by the Egyptian Government the scheme would require the assent of the Powers—parties to the Law of Liquidation. The proposed operation is one solely for the improvement of the financial position of Egypt; it has no political significance, and would not involve any increased charge or liability for the British Exchequer; and Her Majesty's Government cannot give any pledge as to the stage in the negotiations at which they could lay the scheme before Parliament in case the proposals now under consideration should be eventually adopted.