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East India Loan—Report

Volume 218: debated on Saturday 21 March 1874

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Resolution [March 20] reported;

"That it is expedient to enable the Secretary of Stale in Council of India to raise a sum, not exceeding £10,000,000, in the United Kingdom, for the service of the Government of India, on the credit of the revenues of India."

Resolution agreed to:—Bill ordered to be brought in by Mr. RAIKES, Mr. WILLIAM HENRY SMITH, Lord GEORGE HAMILTON, and Mr. DYKE.

Bill presented, and read the first time. [Bill 28.]

hoped a clause would be introduced into the Bill similar to that contained in the Bill of last year, to the effect that an account of the sums borrowed should be laid upon the Table at the time they were borrowed, and that periodically a complete and clear Return of the movements in the debts in England and in India should be laid on the Table, so as to show the totals at the beginning and end of the year, and the additions and payments during the year, with rates of interest and total of interest.

said, his attention had not been previously called to the subject, but the suggestion should receive consideration.