Lord Kitchener: "Am I to understand by this that it is an unlimited amount, or does it come within the amount decided on by the Volksraad?"

General Smuts: "While the Government existed the Volksraad empowered it to issue notes up to a certain amount. And this was done. Moreover the officers in the Veldt had the right to make purchases for the commandos and to give receipts for them."

Lord Milner: "I can see no difference between receipts and requisition notes, and they have been issued for an unlimited amount."

General Smuts: "These receipts were issued under a totally different law. They were not paid out of the credit voted by the Volksraad."

Commander-in-Chief de Wet: "I would have it clearly understood that I quite agree with what has been said by the Commandant-General, namely that the honour of every officer is engaged for these documents, and if your Excellencies agree it will give us a strong weapon with which to return to the delegates."

Lord Milner: "The proposal is de facto that the British Government shall repay all the monies which the Republics borrowed with the object of fighting against England."

Commander-in-Chief de Wet: "Yet we have fought honourably, and if we give up our independence it is no more than fair that you should meet us in this matter."

Commandant-General Botha: "Am I to understand your position to be that we must surrender everything, and that whilst you take away the freedom of our country (which amounts to many millions) you at the same time refuse all responsibility for our debts. We had been recognized by you as belligerent, and so are entirely in our rights in asking that when you seize the riches of the country you shall also take its debts upon your shoulders. So long as the British Government reaches the great goal at which it is aiming, a matter so easily arranged as this should not cause any difficulty: we are not bickering about trifles, but are bringing forward what to us is a real hardship, and you must take it for granted that when we say something here we really mean it. And now we tell you that this matter is an obstacle in our way. Personally, we have not signed many receipts: it was the officers of lower rank who signed the greater number, and it is these very officers who form the majority of the national meeting at Vereeniging. In some instances, I may add, special persons were appointed for the purpose of carrying out this work."

Lord Milner: "We do not take over the assets without taking also the liabilities. We take over all the debts owed by the country before the war, and we have even agreed to take over a debt—a legal debt—in the shape of notes, which notes we are fully aware it only became necessary to issue on account of the war, and thus we are already paying a part of the cost incurred in fighting us. I think this is a very great concession; and when I agreed that it should be put down I said that I believed (and I still am of the same opinion) that the English Government would take exception to it, although I hope that this will not be the case. But to go further than this, and to ask us to pay not only a debt contracted under a law for the furtherance of the war, but also every debt contracted by every officer in the armies of both Republics, for the purpose of fighting us, is to my mind a most extravagant proposal. In answer to what General Botha has said, I may observe that the Commission appears to think that we have no persons behind us whose feelings and prejudices (if you use that word) we are bound to take into consideration. If this matter causes a difficulty among your burghers, I can only say that I am sure that your proposal will cause the British Government the greatest trouble when dealing with the nation, with whose feelings they have to reckon."

Commander-in-Chief de Wet: "I should like to explain the position of the Orange Free State. In the Transvaal a law was passed empowering the Government to issue £1,000,000; but in the Orange Free State nothing was done, as the Government possessed the right to pay with receipts, and we thought that a receipt was as good and as legal as a note; and therefore, from my point of view, the two are of equal importance."