§ MR. O'SULLIVANasked the Financial Secretary to the Treasury, Whether it is a fact that the Lords of the Treasury have announced to the Poor Law Guardians in Ireland that they will charge at the rate of £5 7s. 2d. per annum for every hundred pounds borrowed under the powers of "The Labourers' (Ireland) Act, 1883," for the term of thirty-five years; and, whether it is true that all who borrow under the Land 430 Act of 1881 can do so for the same number of years at the rate of £5 per annum; and, if so, why it is that loans under the Labourers' Act should be charged 7s. 2d. per cent. per annum more than loans under the Land Act, notwithstanding the fact that the entire Union are security under the Labourers' Act?
§ MR. COURTNEYSir, the terms of repayment of these loans are those prescribed by the Labourers' Act, and there is no power to reduce the annuity to the figure of 5 per cent. as suggested by the hon. Member, that rate having been prescribed only by special clauses for loans under the Land Act.
§ MR. O'SULLIVANwas understood to ask if the Labourers' Act did not provide that the loans should be repaid in instalments at the rate of £5 per annum for 35 years?
§ MR. COURTNEYNo, Sir, there was no such provision.
§ MR. O'SULLIVANintimated that he would ask a further Question on the subject.