§ MR. HENNIKER HEATON (Canterbury)I beg to ask the Secretary to the Treasury, as representing the Postmaster General, whether, with the view of simplifying the departmental accounts and facilitating the introduction of reforms in the telegraphic service, he will recommend that the balance still outstanding of the debt originally incurred for the acquisition of the Inland Telegraphs shall be no longer charged exclusively against telegraph revenue, but capitalised, and paid off by means of a sinking fund?
§ THE SECRETARY TO THE TREA-SURY (Mr. R. W. HANBURY,) PrestonIf the hon. Member will refer to Parliamentary Paper No. 49 of this Session he will see that the debt originally incurred for the acquisition of the telegraphs consists of capital stock (Consols) created under Acts of Parliament, and forms part of the Funded Debt of the country. In the same paper the hon. Member will see that, in addition to the capital stock raised, there is a further sum for accumulated annual deficiencies of no less than £6,186,546. In these circumstances the hon. Member will also see that, as there is no surplus of telegraph revenue, the charge of the debt created for the purchase of the telegraphs cannot be paid out, of that revenue.