SIR WILLIAMHAECOUET (Derby)I beg to ask the Chancellor of the Exchequer whether he will lay upon Table a Paper setting forth the transactions relating to the Conversion of the Debt during the present year; whether any arrangements have been made for the rendering of an annual Report by the National Debt Commissioners; and when the Return moved for last Session relating to operations on the Debt in past years will be presented?
§ THE CHANCELLOE OF THE EX-CHEQUEE (MR. GOSCHEN, St. George's, ) Hanover SquareI certainly intend that the whole of the financial operations under the Converson Act of last year, and Redemption Act of this year should be fully and completely set forth. The details will, I hope, interest the public as well as the House; I will consider how best to fulfil this intention as soon as the transactions are concluded. Meanwhile I will lay a statement which-will show how we stand up to date. The National Debt Commissioners have in hand the preparation of their first annual Report. As it will contain a retrospect of the Debt it is a work involving much labour, and the House will readily understand that the conversion and redemption operations have entailed much extra work on the National Debt Office, but the Commissioners hope to present their Report early next Session. The details required for preparing the Return moved for by the right hon. Member are now completed, and the Return itself will be ready for presentation almost immediately. I should like to take this opportunity of removing certain misapprehensions-which, I think, prevail in the mind of the right hon. Member. I am grateful to him for having moved the preparation of the Return, but he probably little appreciates the immense amount of labour which the Return has involved. Unfortunately the records of the operations of annuities in old days are very defective, and compare very ill with those that are now kept; and in order to estimate the capital liabilities of the State prior to 1854 innumerable calculations had to be made which have necessarily taken, much time to prepare, and of which the information contained in the Return will give no idea whatever. The House will readily understand that the Treasury and National Debt Commissioners could only be responsible for laying a Return founded on actual calculations, and not on mere estimates.