§ MR. BRYCE () Aberdeen, S.I beg to ask the Secretary of State for the Colonies whether there is now in force within the Transvaal and Orange River territory any ordinance or other legal provision suspending the right of sale or foreclosoure of mortgaged lands with a view to securing a reasonable delay for debtors who have, owing to the recent war, been prevented from satisfying their creditors; whether if any such provision is now in force, it will be affected by the withdrawal of martial law in the Transvaal should that withdrawal take place shortly; and whether, if the withdrawal of martial law should affect any such provision, the propriety of securing a reasonable further period of delay for mortgage debtors will be seriously considered.
§ MR. J. CHAMBERLAINBy a proclamation of 28th May last, it was provided that exemption from payment of interest on mortgage bonds should cease on 1st June, as regards interest accruing after that date, but no actions at law should be brought or maintained for the 239 capital sum of loans for which bonds on land or other fixed property have been passed for six months from that date. I am advised that the withdrawal of martial law will not affect the validity of this proclamation in any way. The right hon. Gentleman is aware that martial law has been withdrawn.
§ MR. BRYCEWhat are the terms of the arrangement, and for what length of time will it remain in force?
§ MR. J. CHAMBERLAINAs I understand at the present time, the moratorium will expire in six months from 1st June last.
§ MR. J. CHAMBERLAINThat depends upon the circumstances.