§ MR. J. J. SHEE (Waterford, W.)I beg to ask Mr. Chancellor of the Exchequer what are the actual rates of interest at which the Treasury have borrowed money since 1890 for the Local Loans Fund, and what are the actual dividends they have been paying on Local Loans Stock?
§ THE CHANCELLOR OF THE EXCHEQUER (Sir MICHAEL HICKS BEACH,) Bristol, W.The interest fixed by law on the Local Loans Stock is 3 per cent. No Local Loans Stock has been issued since 1890—the repayments have sufficed for fresh borrowings.