§ Resolution reported:—" That it is expedient to authorise the creation of Annuities to be charged on and payable out of the Revenues of India in lieu of the sum of money amounting to £34,859,217 17s. 6d. agreed upon for the purchase by the Secretary of State in 604 Council of India of the undertaking of the Great Indian Peninsula Railway Company, and the payment of any costs and expenses incurred by the said Secretary of State under any Act of the present session for vesting the said undertaking in the said Secretary of State in Council of India; and also any costs, charges, and expenses of obtaining and passing the said Act not provided by the surplus profits arising from the said undertaking for the half-year ending the 30th day of June, 1900."
§ Motion made, and Question proposed, "That this House doth agree with the Committee in the said Resolution."
§ *MR. JOHN ELLISsaid that he yesterday took the somewhat unusual course of objecting to this stage being passed. In view of the fact that it was merely a Report from the House in Committee, he would not enter into the matter at length; but he would, like again to emphasise his opinion that this matter should have been dealt with in a public instead of a private Bill, and he proposed to raise that point when the Bill itself came before the House.
§ MR. EDMUND ROBERTSON (Dundee)said he understood it would not be competent for anyone at this stage to raise the point alluded to by his hon. friend, but he would like to recall to the memory of the noble Lord a strong Report signed by himself on a similar occasion, protesting against dealing with matters of this character in private Bills. He would further like to ask what the noble Lord anticipated would be the future history of the Bill. Would it go to the Unopposed Private Bill Committee, or would it be sent to a Select Committee? He held that in a matter of this magnitude the House should be afforded an opportunity, through a Select Committee, of examining the provisions of a Bill which imposed a charge of 35 millions on the Indian revenues, and he believed that if the noble Lord would only suggest that the Bill be sent to a Select Committee that would at once be done.
§ *THE SECRETARY OF STATE FOR INDIA (Lord G. HAMILTON,) Middlesex, EalingI think there is still some misunderstanding with regard to the Bill. 605 As a matter of fact, it was not necessary to apply to Parliament in order to acquire possession of this railway. Contracts were made and sanctioned by Acts of Parliament passed many years ago, which enabled the East India Company to enter into negotiations with certain railway companies, for guaranteeing the interest on their capital and for an option of purchase. I was informed by my legal advisers that that option of purchase could be exercised, and that all the arrangements could be made so far as the purchase is concerned. But the stock of this railway is largely held by trustees, and I am told that unless some special arrangement is made in connection with annuities it may be very difficult for trustees to hold their stock hereafter. The transaction is quite simple and above board, and I am ready to agree to any procedure that may be desired, provided it will not delay the conclusion of the business. But I am bound by the form and practice of the House. It is a private Bill, and I understand that it will go to the Chairman of Ways and Means. I assume that it is not opposed, and that it will in the ordinary course come back to this House without going to a Committee.
§ Question put, and agreed to.
§ Ordered, That it be an Instruction to the Committee on the Great Indian Peninsula Railway Company Bill, that they have power to make provision therein pursuant to the said Resolution. —(Secretary Lord George Hamilton.)