§ MR. MCKENNA
To ask Mr. Chancellor of the Exchequer what was the average rate per cent, for interest at which money was borrowed during the financial year 1030 1904–5 under the powers to create capital liabilities contained in the Acts named on pages 12 and 13 of the National Debt Account [Cd. 2065] 1904; what was the total amount of Consols purchased for the redemption of the National Debt during the same year; and what was the average price at which the purchase was made.
(Answered by Mr. Austen Chamberlain.) The average rate at which money was raised for capital expenditure in the year 1904–5 was £3 4s. 4d. per cent. The amount of Consols purchased and redeemed by the National Debt Commissioners was £1,616,271 5s. 3d., and the average price £88–864 per cent.