§ MR. LYNCHI beg to ask the Secretary of State for Foreign Affairs whether the recent loan of £250,000, contracted by the Turkish Government for the purpose of supplying the deficit in the Macedonian budget, was secured on the guarantee of the surplus of those Turkish revenues which are administered by the European institution called the Ottoman Public Debt, and are on the increase every year; whether the said revenues, known as ceded revenues, and forming the best security which Turkey has to offer, are at present mortgaged in respect of charges for special temporary loans such as the above to the extent of £420,000, and, if not, to what extent they are so mortgaged; and whether it has been estimated by the British delegate on the Ottoman Public Debt that these special temporary charges will be wiped out in 1909, provided that the 3 per cent. increase in the Turkish Customs be applied to defray the deficit on the Macedonian budget, which has hitherto been made good by means of such loans.
§ MR. RUNCIMANHis Majesty's Government understand that the recent loan of £250,000 contracted by the Ottoman Government was secured on the guarantee of the surplus of the ceded revenues administered by the Ottoman Public Debt. The second part of the Question concerns the Council of the Ottoman Debt, for which His Majesty's Government is not responsible and with whom the information rests. Estimates made by the British delegate are a matter for consideration by the bondholders by whom he is appointed, and my right hon. friend cannot make official statements concerning them, but according to his information the revenues referred to will not be available for other purposes till after 1910.
§ MR. LYNCHI beg to ask the Secre- of State for Foreign Affairs whether the supplementary financial guarantee given to the Powers by the Turkish Government in respect of the deficit on the Macedonian budget is secured on the surplus of the revenues administered by the Ottoman Public Debt and known as the ceded revenues; and, if not, whether this surplus will be available for the purpose of kilometric guarantees for railways 323 in the year 1909, provided that the increase in the Turkish customs be put into force.
§ MR. RUNCIMANThe Answer to the first Question is in the negative. The guarantee is secured on the new or tithe revenues. According to the best information obtainable the surplus referred to in the hon. Member's Question is pledged till 1910, and will not therefore be available for other purposes till the following year.
§ MR. LYNCHI beg to ask the Secretary of State for Foreign Affairs whether the British delegate on the council of the Ottoman Public Debt who during the recent negotiations in connection with the three per cent. increase in the Turkish customs duties, withheld his consent to the proposal to provide an additional guarantee for the Macedonian budget out of funds other than the funds known as the ceded revenues, and not immediately under the control of the Debt, has now signified his consent to the proposal.
§ MR. RUNCIMANHis Majesty's Government are not responsible for the decisions of the Council of the Debt, and the British and other delegates are, my right hon. friend presumes, bound by the decision of the majority.