§ Grant of Money for Public Works Commissioners, Ireland.
§ Clause 12 (Grant of £850,000 for loan by Commissioners of Public Works in Ireland during the period ending the 30th June, 1880) agreed to.
§
THE CHANCELLOR OF THE EXCHEQUER moved to add the following clause to the Bill:—
800
(Power of Public Works Loan Commissioners to lend to Labourers' Dwellings Company.)
The Public Works Loan Commissioners may lend to any company, society, or association established for the purpose of constructing or improving dwellings for the labouring classes, any sum or sums to be applied towards the construction of dwellings suitable for the labouring-classes, and towards the purchase of land for that purpose.
Every sum so lent shall be repaid within a period not exceeding fifteen years from the time of the advance, with interest thereon at such rate not less than three-and-a-half per centum per annum, as may be agreed upon between the Commissioners and the borrower.
Every sum so advanced shall be advanced in accordance with 'The Public Works Loan Commissioners Act, 1875.'
§ New Clause (Power of Public Works Loan Commissioners to lend to Labourers' Dwellings Company,).—(Mr. Chancellor of the Exchequer,)—brought up, and read the first time.
§ Motion made, and Question proposed, "That the Clause be read a second time."
§ SIR CHARLES W. DILKEsaid, that the chief argument in favour of lending money to the Peabody Trustees was that they were an Association making no profit. The Companies which that clause contemplated did make profit; and he should, therefore, vote against the new clause upon that ground.
§ Question put.
§ The Committee divided:—Ayes 57; Noes 8: Majority 49.—(Div. List. No. 232.)
§ Schedule agreed to.
§ Postponed Preamble agreed to.
§ House resumed.
§ Bill reported; as amended, to be considered To-morrow.