§ SIR GEORGE CAMPBELLI beg to ask the Under Secretary of State for Foreign Affairs, whether in the event of its being determined to pay 1558 off the Egyptian Privileged Loan, the Powers who are parties to the present arrangement will be consulted, with a view to obtaining their consent to placing another Privileged Loan at a cheaper rate, so that the greater part of the benefit may not go to the unified bondholders, promoted to the first place by the removal of the Privileged Loan, and the placing the new loan behind them?
§ *SIR J. FERGUSSONThe Egyptian Government cannot raise a loan for the purpose of paying off the Privileged Debt without the consent of the Powers, but they have not yet communicated to the Powers their proposals with regard to the suggested loan, and its position with respect to other Egyptian stock.