HC Deb 28 May 1900 vol 83 cc1501-2
MR. COHEN: (Islington, E.)

I beg to ask the Secretary of State for India whether he will lay upon the Table of the House a memorandum giving the method by which in each instance of the four Indian Railways acquired by him, the rates of interest on the respective annuities were calculated, and also, for the purpose of comparison, the same details in respect of the Great Indian Peninsula Railway.

LORD G. HAMILTON

I have no objection to laying on the Table the correspondence between the Secretary of State and the Bank of England as to the rate of interest for the calculation of annuities in the cases of the Eastern Bengal, the Scinde Punjab and Delhi, and the Great Indian Peninsula Railway Companies; but that correspondence, though it states the rate of interest settled, will not show the method in which the interest was calculated in the two former cases. There is no other case of the acquisition of a railway by the State in which any similar reference to the Bank of England has been necessary.