SECOND READING. (Hansard, 13 June 1882)

VISCOUNT MONCK,

in moving that the Bill be now read a second time, said, that the nucleus of the fund was formed from the balance of a large subscription in the City of London in 1822, which had been raised to assist those then suffering from distress in the Western counties of Ireland. It amounted to over £50,000, and was vested in Trustees for the benefit of the counties of Sligo, Roscommon, Tipperary, &c. In 1844 the Trustees were incorporated into a Company, and the Company so formed was called the Irish Reproductive Loan Fund Institution, and its object was to lend money in various counties in Ireland, a certain sum being apportioned by the Trustees to each of these counties. By the Act 11 & 12 Vict, c. 115, which was passed in 1848, this institution was dissolved, and the fund was transferred by the Act to the Crown, with the same trusts. In 1874 the fund was transferred to the Board of Works in Ireland and that Board was empowered, in addition to the original objects, to lend to counties near the sea portions of the fund for the promotion of the fisheries of Ireland. By the 5th section of the Act, Sub-sections 2 and 3, the maximum amount in any one year to be given to any county was not to exceed one-fourth of the sum standing in the previous year to the credit of the county, and the fishery loans were not to exceed half the sum standing to the account. The operation of the provisions had been found extremely 967 beneficial, and the object of the Bill he asked their Lordships to give a second reading to was to repeal these two subsections, limiting the amount which the Board of Works could advance for the purpose of fisheries, and to enable them to grant the entire of the amount to the maritime counties for fishery purposes. It also proposed to make these advances to fishermen in kind instead of in money by enabling the Commissioners of fisheries to purchase the nets, boats, and other things required, and supply them to the fishermen. The Commissioners had access to a much larger and better market, and would be able to procure these things at a cheaper rate and of better quality than the fishermen could do. Another provision was to increase the summary power of the Board with regard to recovering loans. That was the entire scope of the Bill. No objection had been made to it in the other House, and he trusted their Lordships would give it a second reading.