§ MR. HUNTER (Aberdeen, N.)
asked Mr. Chancellor of the Exchequer, How, if £5,000,000 is granted for the purposes of Lord Ashbourne's Act, he proposes to raise the money, whether by Treasury Bills, Exchequer Bills, the issue of Stock, or otherwise?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN) (St. George's, Hanover Square)
If the hon. Member will refer to the National Debt and Local Loans Act of last year, he will find that all money required for State loans will hereafter be raised by the issue of Local Loans Stock, so far as it may be needed—that is to say, so far as the sums repaid in respect of old loans are insufficient to meet the amount required for new ones.