Queen Victoria to the Earl of Clarendon

THE RUSSIAN LOAN

Buckingham Palace, 27th June 1854.

The Queen observes in Lord Cowley's letter a suggestion of M. Drouyn de Lhuys to stop, if possible, the Russian Loan. She thinks this of the highest importance as cutting the sinews of war of the enemy. The Queen does not know whether we have by law the power to forbid the quotation of this stock in our market, but a short Act of Parliament might be obtained for the purpose. The London and Paris markets rejecting such paper would have the greatest influence upon its issue.

Footnote 40: Lord Clarendon replied:—"... With reference to your Majesty's note of this morning, Lord Clarendon begs to say that having laid a case fully before the Law Officers, and having ascertained from them that it would be high treason for any subject of your Majesty's to be concerned in the Russian Loan, he will give all possible circulation to the opinion, and he has this evening sent it to Vienna, Berlin, and The Hague...."