HC Deb 21 July 1904 vol 138 cc783-4
MR. COGHILL (Stoke-upon-Trent)

I beg to ask Mr. Chancellor of the Exchequer if he can state the reasons which induced him to issue the Irish,Land Stock at the figure at which it was issued; and what has been, approximately, the loss to the country on the amount already issued.


The price fixed was the highest price which I was advised I could ask at that time without endangering the success of the issue. Since then the conditions of the money market have undergone a change and the price of the stock, along with the price of all Government securities, has risen. But I cannot admit that the higher quotation of a stock in different conditions indicates that a loss has resulted from the issue. I may add that the issue could not have been longer postponed unless the working of the Land Act of last session was suspended.


said the hon. Member referred in his Question to the loss to the country. Of course he meant the loss to Ireland. What was the amount of the loss?


I do not admit that there has been a loss. The stock was issued at the best price which it would command at the time. It was issued at eighty-seven.