§ Resolution reported, "That it is expedient to authorise the Secretary of State in Council of India to raise in the United Kingdom, on the security of the Revenues of India, by the creation and issue of capital stock, bonds, debentures, or bills:—(1) A sum not exceeding £20,000,000, for the following purposes: (a) The construction, extension, and equipment of railways in India by State agency or through the agency of companies; (b) the repayment of the principal of any bonds or debentures issued by any such company under the guarantee of the Secretary of State; (c) the discharge of any obligations incurred by the Secretary 1904 of State by reason of the purchase of any railway or the determination of any contract from or with such company; (d) the construction of irrigation works in India. (2) A sum not exceeding £5,000,000 for the general purposes of the Government of India."
§ Bill ordered to be brought in by Mr. Buchanan and Mr. Hobhouse.