§ MR. LYNCHI beg to ask the Secretary of State for Foreign Affairs whether out of seven members composing the Council of the Ottoman Public Debt, three are also directors on the board of the Baghdad Railway, while a fourth represents a foreign financial institution having five representatives on this board; whether the principal administrator of the Ottoman Public Debt is also a director of the Baghdad Railway; and, if so, whether he will bring these facts to the attention of the foreign bondholders.
§ MR. RUNCIMANSuch information as is available on this subject is to be found in published documents within reach of the holders of Ottoman stock. My right hon. friend has no obligation to advise them on matters concerning their private business.
§ MR. LYNCHI beg to ask the Secretary of State for Foreign Affairs whether in view of the sacrifices made by British trade in connection with the 3 per cent. increase in the Turkish customs duties he will represent to the Turkish Government the unfairness of applying the surplus of the revenues ceded to the Ottoman Public Debt, which could otherwise have been used as a security for temporary loans in respect of Macedonia, to purposes imposing fresh burdens upon the Turkish people in the shape of kilometric guarantees to foreigners in respect of railways.
§ MR. RUNCIMANMy right hon. friend has already stated that according to his information the revenues referred to will not be available for other purposes till after 1910. My right hon. friend would be delighted to give sound financial advice whenever he has any at his disposal in any quarter in which it was likely to be acceptable.