§ MR. SYDNEY GEDGE (Walsall)
I beg to ask Mr. Chancellor of the Exchequer whether, in view of the high price of Consols, and of the exceptionally great expenditure about to be incurred in strengthening the Navy, the Government will immediately bring in a Bill enabling the expected large surplus to be used for that purpose instead of being applied in the reduction of the National Debt by the purchase of Consols therewith?
§ THE CHANCELLOR OF THE EXCHEQUER (Sir MICHAEL HICKS BEACH,) Bristol, W.
I am not surprised that my hon. Friend should have called attention to the bearing of the present price of Consols upon this matter; but I would say generally that I hope that I may be permitted, as my predecessors have always been, to select my own time and method for making any announcement to the House on important questions of finance, and, if I had any intentions on the particular subject referred to by my right hon. Friend, I could not properly state them in answer to a question.