§ MR. CLANCY (Dublin County, N.)I beg to ask the Chief Secretary to the Lord Lieutenant of Ireland whether he can state what becomes of the interest payable on the sum of £200,000, the amount of the accumulated Exchequer contributions which are levelled up to meet possible deficiencies in the payment of instalments of purchase money under the Land Purchase Act of 1891; and if the interest is not paid, together with the annual contribution of £40.000, to the local authorities for the purpose of building labourers' cottages, can he explain why not.
§ MR. AUSTEN CHAMBERLAINIt is presumed that the hon. Member refers to the Reserve Fund created under Section 5 (2) (b) of the Act. On this understanding, the answer to his question is 66 that, pursuant to Section 15 (7) of the Act, the interest on the investments representing the Reserve Fund is accumulated, reinvested, and added to the Fund. The investments on account of the Fund now amount to £241,000 Consols.