§ MR. FELLI beg to ask Mr. Chancellor of the Exchequer if there is any precedent for the guarantee by this country of a loan to any Colony where the proceeds of the loan are to be employed for the general purposes of that Colony and not for some extraordinary outlay.
§ MR. ASQUITHIt is not easy to draw the dividing line between ordinary and extraordinary expenditure. Many of the purposes for which loans have been guaranteed might be regarded as falling into either category.