HC Deb 02 August 1887 vol 318 cc944-5

Resolutions [August 1] reported—

That it is expedient to authorize,—

  1. "(1.) That the interest payable on Loans advanced out of the Consolidated Fund by the Commissioners of Works in Ireland and by the Irish Land Commissioners, for the purchase of holdings be reduced from 3½ per centum per annum to 3⅛ per centum per annum;
  2. " (2.) That, on payment of a certain portion of any arrears due, the remainder of such arrears shall be repayable by such addition to the amount of the annuity for repaying, the advance, as will repay the said remainder with interest at the rate of 3⅛ per centum per annum."

MR. CHANGE (Kilkenny, S.)

asked if the terms of the Resolutions would not prevent certain Amendments in the name of the hon. Member for East Mayo (Mr. Dillon) from being moved?

THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN) (St. George's, Hanover Square)

said, the Resolutions would not prevent the moving of the Amendments referred to.

In reply to Mr. O'DOHERTY.

THE FIRST LORD OF THE TREASURY (Mr. W. H. SMITH) (Strand, Westminster)

explained that the Resolutions only authorized a reduction in the rate of interest.

Resolutions agreed to.