HC Deb 26 July 1927 vol 209 cc1027-8
64 and 65. Lieut. -Commander KEN WORTHY

asked the First Lord of the Admiralty (1) whether, when bullion and other valuables are carried by ships of the Royal Navy for the account of the Bank of England or for other British banks, any payment is made; and, if so, at what rate;

(2) whether the British banks in Shanghai, for whose account 3, 000, 000 taels were shipped from Shanghai to Wei-hai-Wei on board ships from the Royal Navy on the 20th July last, or the Yokohama Specie Bank, for whom on the same date 500, 000 taels were shipped, are making any payment for this service and are defraying the cost of the fuel expended by His Majesty's ships?

Lieut. -Colonel HEADLAM

The payments to be made are laid clown in the King's Regulations, Article 1142. It is presumed that the local naval authorities in China will claim payment from the banks according to these Regulations.


Can the hon. and gallant Gentleman say when these Regulations were made, and whether freights have not gone up considerably since that date?

Lieut. -Colonel HEADLAM

I cannot say the exact date, but I can assure the hon. and gallant Member that we hope to make a little money on this transaction.

Lieut. -Commander KENWORTHY

Is the hon. and gallant Member aware that those Regulations are for ships making an ordinary passage, and not making a special journey for the purpose of carrying bullion; and will he answer the last part of Question 65 As to the cost of the fuel?

Lieut. -Colonel HEADLAM

I can gratify the hon. and gallant Member on both points. The cost of the fuel is, approximately, about £2, 000. At the present moment we do not know whether these vessels were going to Wei-Hai-Wei naturally, I mean for service purposes, or whether they went specially for this purpose, but in any case the Commander in-Chief on the spot is capable of dealing with the matter.


Is the hon. and gallant Gentleman aware that his answer to the effect that the Admiralty are likely to make a little money is calculated to cause a shock?

Colonel DAY

Can the hon. and gallant Member say what is the profit the Admiralty are likely to make?

Lieut. -Colonel HEADLAM

No, I cannot give an answer to that question.