HC Deb 11 June 1907 vol 175 cc1222-3
*CAPTAIN FABER

I beg to ask the Primo Minister whether he can state at what rate of interest the loan lately promised to General Botha for the Transvaal will be issued; and whether it is proposed that the issue of this loan shall be before or after the repatriation of the Chinese coolies.

MR. CHURCHILL

The terms of issue of the proposed loan will be made known in due course. The repatriation of Chinese coolies will begin shortly, and will probably be in progress before any part of the loan is issued.

*CAPTAIN FABER

Is this loan guaranteed by the British Government?

MR. CHURCHILL

An announcement has already been made that when, and if, a loan of this character has passed the Transvaal Legislature, His Majesty's Government are not opposed in principle to giving the necessary guarantee which has been asked for.

*CAPTAIN FABER

Why should this loan be issued more cheaply than the Cape Colony loan?

MR. CHURCHILL

I have not discussed at all the question of the price.

CAPTAIN FABER

It must be if it is guaranteed.

*MR. GEORGE FABER (York)

asked whether, considering the collapse in Consols, the disorganised state of the stock markets, and the impossibility of further issuing the Irish loan except at a disastrous figure, and considering further—

*MR. SPEAKER

That Question seems to me to be in the nature of a series of arguments.

*MR. GEORGE FABER

I was leading up to a conclusion; I would ask whether the Prime Minister will consider the advisability of deferring the issue of this loan till a more favourable time?

SIR H. CAMPBELL-BANNERMAN

The usual preface to a Question of that sort is "arising out of that," but I do not see that the Question arises out of the Answer, or any other Answer.

*MR. GEORGE FABER

It arises very much out of it.

MR. HUNT

May I ask the Prime Minister whether the Transvaal Government has promised to send back any of the Chinese at the end of their three years contracts?

SIR H. CAMPBELL-BANNERMAN

That is another conundrum that does not appear to arise out of the Question.