§ MR. McCRAE (Edinburgh, E.)
I beg to ask Mr. Chancellor of the Exchequer if he can now state whether the annual instalments of over £300,000 receivable in respect of the Chinese war indemnity will, after the private claims of British subjects have been satisfied, be applied to the reduction of debt according to the terms of the undertaking of the Chancellor of the Exchequer in 1902.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. AUSTEN CHAMBERLAIN,) Worcestershire, E.
The instalment receivable from China at the end of next month is expected to suffice for; paying off the balance of the private claims. The remaining instalment will be applicable to the discharge of the British Government claim and of certain claims in respect of damage to the Northern Railways, which were included in the Government claim. It has not yet been settled in what manner the railway claims are to be liquidated. Pending settlement on that matter, it would be premature to propose to Parliament to decide as to the ultimate application of the receipts.