§ Order of the Day for the Second Reading read.
§ THE EARL OF LUCANMy Lords, this is a purely formal Bill which was introduced by the late Government in the summer. In consequence of the alteration of business, it now covers only ten months instead of twelve, and the amounts have been reduced accordingly. I think there is no further information that I need give to your Lordships. I beg to move.
§ Moved, That the Bill be now read 2ª.—(The Earl of Lucan.)
§ LORD MARLEYMy Lords, I should like to ask one or two very brief questions, purely for information, for I do not quite understand certain points. I see that this year we appear to be wiping off principal as well as interest on the Public Works Loan Commissioners' loans under the Agricultural Credits Act. The losses do seem to be very heavy, and I see that there is a particularly heavy loss in connection with the loan to Mr. Walter Rhodes. I just wondered what that was. I see that the Public Works Loan Commissioners are all representatives of the great financial houses—Hambro, Glyn Mills, Rothschild, Goschen, Cunliffe, Bank of England—and I wondered whether the Government were quite satisfied with the very heavy losses that have been incurred during the period of the late Government's tenure of office.
§ THE EARL OF LUCANMy Lords, I am afraid that at the present moment I have not the information for which the noble Lord is asking. If the noble Lord will allow me to give him further in-formation at a later stage of the Bill I will certainly do so.
§ LORD MARLEYI thank the noble Earl.
§ On Question, Bill read 2ª and committed to a Committee of the whole House.