§ MR. CONDON (Tipperary, E.)To ask the Chief Secretary to the Lord Lieutenant of Ireland if he will state how 167 much money have the Board of Works advanced for planting; under what authority was this advance given; what rate of interest is charged; and what period is given for repayment.
(Answered by Mr. Wyndham.) The Board is empowered by the Act 29 and 30 Vic. c. 40, s. 5 (one of the Landed Property Improvement Acts), to make loans for planting for shelter. It has power to lend for planting generally under the combined operation of the 31st Section of the Land Law (Ireland) Act, 1881, and the 20th Section of 46 and 47 Vic. c. 43. Loans amounting to £32,005 have been made for planting for shelter. The amount advanced for planting irrespectively of shelter cannot be definitely stated, inasmuch as the loans are combined with the other numerous loans made under the Act of 1881. The planting loans, however, are few and small, and are believed not to amount to more than £2,000. The period for repayment of loans for shelter under the 29 and 30 Vic. c. 40, is usually thirty-five years. The period in the case of loans for planting generally under the Act of 1881 is twenty-two years. The difference in the two cases arises from the fact that the tenure of the borrower under the former Act was longer and offers a more lasting security than the tenure of the borrower under the Act of 1881. In both cases repayment is made by a rent-charge amounting to £5 per cent. on the sum advanced in the case of thirty-five years' loans, and £6 10s. per cent. in that of twenty-two years' loans. The rent-charge of £5 per cent. includes interest at £3 10s. per cent. That of £6 10s. per cent. includes interest at £3 8s. 3d. per cent.