The Chancellor's Approval

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Date:24th of July 1878

Description:The Minute Book reports that the Duke of Sutherland had an interview with Lord Beaconsfield on July 24th 1878. It states ‘His Lordship’s remarks were of a general nature only and were not discouraging. A Deputation of the Committee then had an interview with the Chancellor of the Exchequer, who, although insisting on consulting his colleagues, did not express any ‘disapproval’.

The documents indicate that the Government’s reluctance to fully support the scheme was based on uncertainty about the guarantee of gaining a return on their financial outlay. The Minute Book notes that the Chancellor of the Exchequer was concerned about ‘what guarantee would suffice’.