§ Considered in Committee.
§ (In the Committee.)
Motion made, and Question proposed,
That it is expedient to authorise the remission of certain Loans made by the Exchequer Bill Loan Commissioners and the Commissioners of Public Works in Ireland to the Ulster Canal Company, and also of authorising a Grant, not exceeding £3,500, out of moneys to be provided by Parliament, to the Arklow Harbour Commissioners, pursuant to any Act of the present Session to grant money for the purpose of Local Loans, and for other purposes relating to Local Loans."—(Mr. Jackson.)
§ (2.49.) MR. T. M. HEALY (Longford, N.)
No doubt the Ulster Canal, dealt with in this Resolution, is in a derelict way, but the right hon. Gentleman opposite will remember how badly we were treated when the Ulster Canal Bill was going through. He will remember that the result of that treatment has been that we have been deprived of anything like an explanation as to how the Government treated the Ulster Canal Company. As I understand it, the Government took hold of this canal in return for £120,000 they had lost, and they now hand it over to someone else not only without this £120,000, but with an offer of £5,000 or £6,000 in addition. We are entitled to know what transactions have taken place in regard to this matter. I would suggest that in order to keep a grip on those to whom the canal is to be transferred (I forget the name of the company) the Government should hold this loan of £120,000 over them in terrorem. At any rate, I should like some information as to the position of this matter.
§ THE SECRETARY TO THE TREASURY (Mr. JACKSON, Leeds, N.)
I do not know whether this is relevant to the Resolution before the House, the object of which is merely to authorise the allocation of funds to the purposes of a Bill. I would point out that the debt it is proposed to remit is not owing by the body to whom the Ulster Canal is handed over, therefore I do not see in what way the one matter is connected with the other. When we release the persons who originally borrowed the £120,000, we shall not have more powers lover the canal than we have at 644 present under the arrangement we have entered into. I shall be happy on a future occasion to give the hon. Member the information he desires.
§ MR. T. M. HEALY
It would not be fair to keep the House until a late hour on this Resolution, but when the Bill gets into Committee I will raise the point in detail.
It would not be in order to do that in Committee. The canal has been sold to a company, and they have nothing to do with the debt of the old company.
§ Question put, and agreed to. Resolution to be reported to-morrow.