§ MR. GILHOOLYI beg to ask the Secretary to the Treasury whether any alteration has taken place since the passing of the Land Law (Ireland) Act, 1881, with regard to advances for works of agricultural improvement, pursuant to section 31; whether a tenant farmer, whose poor law valuation is £7, can. now obtain a loan; whether every tenant farmer, whose poor law valuation is £7 and upwards, having sufficient security to offer, can obtain an advance by way of loan to the amount of five times his poor law valuation, and if there has been a new departure, what reason can he assign for it?
§ *MR. HANBURYOriginally the minimum loan was £100 (reduced to £50 in 1883), and the maximum equal to five times the poor law valuation. Since 1892 the minimum has been reduced to £35, and the maximum fixed at three times the poor law valuation or judicial rent, if no collateral security is given, or five times if collateral security is forthcoming. The alteration was shown, by the experience of the first decade during which the Act was in operation, to be necessary in order to avoid undue risk to the Exchequer. It follows that a tenant whose valuation is £7 only cannot obtain a loan on any 1134 terms for less than £35. If he can give collateral security he may obtain a loan for £35, which is five times his valuation or judicial rent. The hon. Member will find information on the point on pages 16 and 17 of the Board of Works report for the year 1894–95.
§ MR. GILHOOLYsaid he would call attention to the subject on the Estimates.