§ MR. MAHONYI beg to ask the Secretary to the Treasury whether he can state, as regards loans to owners of land in Ireland under a notice from the Office of Public Works, Dublin, dated 12th January, 1880, in which the annual instalments are fixed at £3 8s. 6d. per cent. for 35 years, how much of the instalment is carried annually to the Sinking Fund, and at what rate of interest the Sinking Fund is calculated?
§ MR. JACKSONI understand that the rate of interest charged is £1 percent. per annum on the amount outstanding. The balance is carried to the Sinking Fund.
§ MR. MAHONYDoes the amount carried to the Sinking Fund vary each year.
§ MR. JACKSONThe interest is always at the same rate. For each £100 advanced, there is an annual payment of £3 8s. 6d. for 35 years.