HC Deb 05 June 1907 vol 175 cc671-2
MR. LYTTELTON (St. George's, Hanover Square)

I beg to ask Mr. Chancellor of the Exchequer whether he will state the occasions on and the circumstances under which the Imperial Government has guaranteed the loans of any self-governing Colony.


Guarantees have been given in favour of three loans raised by New Zealand and three raised by Canada. New Zealand: (1) A loan of £500,000 in 1857 (20 and 21 Vict., cap. 51), to provide for the payment of the debts due by the Colony, and for the purchase of native lands; (2) a loan of £500,000 in 1866 (29 and 30 Vict., cap. 104), for the purpose of expenses in connection with the New Zealand war, immigration, and other purposes; (3) a loan of £1,000,000 in 1870 (33 and 34 Vict., cap. 40), for the construction of roads, bridges, and other communications, and for the introduction of settlers. Canada: (1) A loan of £3,000,000 in 1867 (30 Viet., cap. 16), for the construction of a railway connecting Quebec and Halifax; (2) a loan of £300,000 in 1869 (32 and 33 Vict., cap. 101), for the purchase of Rupert's Land from the Hudson Bay Company; (3) a loan of £3,600,000 in 1873 (36 and 37 Vict., cap. 45), for the construction of the Pacific Railway, and the improvement and enlargement of the Canadian canals. This loan was, to the extent of £1,100,000, in lieu of a guaranteed loan of that amount which had been authorised in 1870 (33 and 34 Vict., cap. 82), for the construction of fortifications, but was not raised.