§ Mr. MUSPRATTasked the President of the Local Government Board at what rate per cent, the Corporation of Liverpool has borrowed money during the last twelve months?
§ The PARLIAMENTARY SECRETARY to the LOCAL GOVERNMENT BOARD (Mr. Herbert Lewis)During the twelve months ended 31st March, 1910, the Corporation of Liverpool have borrowed money on the following terms:—Loans on Mortgage: Loans on mortgage for fixed periods of three, five, or seven years at interest at the rate of 3¼ per cent, per 232 annum. This rate was in operation until December, 1909, on which date the rate of interest was increased to 3½ per cent, per annum. For the renewal of existing loans falling due for repayment, the rate of interest was £3 7s. 6d. for fixed periods of three, five, or seven years until December, 1909, when the terms of renewal were also increased to 3½ per cent, per annum. Corporation Bills: During the period under review two issues of Liverpool Corporation Bills were made, each of £500,000. The average rate of discount for the issue in August last was £2 5s. 9d. per cent., and that for the issue in February last was £2 6s. 3d.
§ Mr. MUSPRATTMay I ask if those low rates were not satisfactory to the ratepayers, and whether they are not appreciably—
§ Mr. SPEAKERThe Local Government Board cannot possibly know what is in the minds of the ratepayers.