§ Read 1a.
LORD DENMANMy Lords, as you have agreed to suspend the Standing Order, I propose to ask the assent of the House to take this Bill and also the Treasury (Temporary Borrowing) Bill through all their stages at this afternoon's sitting. These Bills, of course, have not been printed here, so I have arranged for some House of Commons copies to be placed on the Table of this House for the convenience of your Lordships. With regard to the War Loan (Redemption) Bill, on April 5 Stocks and Bonds issued under the War Loan Act of 1900 and amounting to £30,000,000 must be redeemed. The amount outstanding is £21,300,000. Of the £30,000,000 the National Debt Commissioners have bought up £8,700,000, and they are prepared to take a further £300,000, leaving about £21,000,000 to be met. We are obliged, therefore, to take further powers to provide for this sum, and we propose to raise the money by Exchequer Bonds. The Bill itself consists of one clause. Subsection (I) deals with the raising of money for the purpose of the redemption of the War Loan; subsection (2) deals with defraying expenses incurred in connection with the raising of the money; and subsection (3) and the Schedule deal with the manner in which the War Stock and War Bonds are to be redeemed.
§ Moved, That the Bill be now read 2a.—(Lord Denman.)
§ On Question (Standing Order No. XXXIX having been suspended), Bill read 2a: Committee negatived: Bill read 3a, and passed.