§ MR. DALY (Monaghan, S.)
I beg; to ask the Chief Secretary to the Lord Lieutenant of Ireland whether he is aware that purchasers under the Ashbourne Act are only entitled to about £10 per cent. every ten years, while purchasers under the Land Bill of 1896 will be entitled to £14 after ten years; whether he is also aware that the sinking fund under the: Ashbourne Act is only 17s. 6d., while under the Bill of 1896 it is £1 5s.; and. whether there is any reason for not placing the purchasers under the Ashbourne Acts on as favourable terms as the purchasers under the Bill of 1896.
§ THE CHIEF SECRETARY FOR IRELAND (Mr. G. W. BALFOUR,) Leeds, Central
The first paragraph of the question appears to be based upon a misapprehension, for though the Treasury rules and tallies have been published so. far as regards the application of the decade system to purchases under the Ashbourne Act, they have not yet been issued with regard to purchases under the Acts of 1891 and 1896. There is no. authority, therefore, for assuming that the sum of £14 per cent. is correct. The facts are as stated in the second paragraph. The advances under the Ashbourne Act were made by means of the realisation of stock issued under the Local Loans Act at 3 per cent., advances under the Acts of 1891 and 1896 by the 411 issue of guaranteed land stock bearing dividends at £2 15s. per cent., which is provided by the interest portion of the tenant purchasers' annuities, the balance of the annuity, £1 5s., being accumulated against the annuity. The Local Loans stock is not redeemable until 1912.