MR. GIBSON BOWLES
I beg to ask Mr. Chancellor of the Exchequer, can he say whether any provision has been made for the payment by the Colonies of their contribution of £1,444,444 to the capital expenditure on the Pacific Cable; whether this sum, or any portion of it, has yet been paid by the Colonies; and, if not, when it will be paid.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. AUSTEN CHAMBERLAIN,) Worcestershire, E.
The amount borrowed for capital expenditure on the Pacific Cable is being repaid by a terminable annuity provided in the Vote for Telegraph Subsidies and Pacific Cable (Civil Service Estimates, Class V, 5). The colonial shares of the expenditure are recovered from the Colonial Governments after the close of each financial year. The first instalment of the annuity for repayment of the borrowed capital was included in the Vote for 1903–4, and the colonial share has been received in the present financial year.