§ 12. Mr. Marquandasked the Secretary of State for the Colonies how far the terms and conditions of the Bliss Trust permit a proportion of either the capital or the 1169 annual income of the fund to be used for the economic and social development of British Honduras.
§ Mr. HareThe bulk of the estate of Baron Bliss was left in trust, the capital to be invested and the income of the Trust, subject to certain prior charges, to be devoted to such purposes as the trustees considered to be for the benefit or development of the Colony of British Honduras.
§ Mr. MarquandDoes the right hon. Gentleman appreciate that nobody wishes to frustrate the purposes of the Trust? My anxiety only is to see whether at present, in the sad state of this Colony's lack of economic development, we could not use this money as a nucleus for establishing an industrial or economic development corporation in the Colony, on the basis of this fund.
§ Mr. HareI can only repeat that under the terms of the will the vast bulk of the income from the Trust is to be used for the purposes of buildings, roads, railways, canals, piers, promenades, sea walls, lighthouses etc., and the Trust precludes money being spent on churches or chapels, dancing halls, education or schools, but the vast majority of the money is spent on beneficial development.
§ Mr. MarquandWould it not be true to say that if £750 could be made available as a guarantee for a capital sum, additional capital money could be made available for all these desirable purposes?
§ Mr. HareI should be delighted to make the annual reports of the Trust available. Perhaps after the right hon. Gentleman has studied them, we can have another word about them.