§ Order of the Day for the Second Reading read.
§ * THE LORD CHANCELLOR (The EARL OF HALSBURY)My Lords, this Bill is considered to be rendered necessary by a technicality. You are, no doubt, familiar with the fact that subscriptions were lavishly given by the public for the purpose of establishing a college at Khartoum. Some of the persons who have been applied to will not accept the office of trustee—a somewhat perilous and difficult office sometimes to accept—without knowing all the responsibility involved. They have been advised—at present I do not say whether I entirely agree with the advice given them or not—that, in the event of this being treated as a public trust, it is a trust which might be enforced in the Court of Chancery by the Attorney-General by way of information, and the persons who are to act as trustees would require to be indemnified, if they could be in some way, against any breach of trust by investing in Egyptian securities. Undoubtedly, it would be outside the power of an ordinary English trustee to invest in Egyptian securities. The result is that they have declined to accept the trust at all unless they are indemnified by Parliament. It was therefore thought proper that a Bill should he brought before your Lordships to enable these trustees to act with perfect security. I think your lordships will do as every subscriber would do if he could be personally consulted, 987 and will allow these trustees to invest in Egyptian securities.
§ Bill read 2a (according to Order); and committed to a Committee of the Whole House to-morrow.
§ House adjourned at half-past Six of the clock, till to-morrow, half-past Ten of the clock.