§ MR. GEORGE FABER (York)
I beg to ask the Prime Minister, what are the differentiating circumstances which have induced His Majesty's Government to provide the Imperial guarantee to the proposed £5,000,000 Transvaal loan, whereas no such guarantee is to be given in the case of the loan of £2,000,000 advertised to be issued by the Colony of Natal; and whether, in the case of Natal any such guarantee has ever been given.
§ THE UNDERSECRETARY OF STATE FOR THE COLONIES (Mr. CHURCHILL, Manchester, N.W.)
I see no advantage in attempting to justify the policy of His Majesty's Government in regard to the Transvaal Loan by Question and Answer across the House. The. opportunities for its discussion afforded by the necessary Loan Bill will enable me to explain very fully to the House the reasons for the decision which has been taken. No such 93 guarantee has ever been given to Natal. But owing to the invasion of Natal the Colonial Revenue in 1899 dropped heavily and the Bank of England advanced money to Natal under an informal guarantee. No application to Parliament was thought necessary.
§ MR. A. J. BALFOUR (City of London)
Can the Prime Minister or the right hon. Gentleman tell us when the Loan Bill is likely to come on for discussion?