§ DR. THOMPSON (Monashan, N.)To ask MR. Chancellor of the Exchequer, if his attention has been called to the treatment of the debenture holders of the Irish Loan Fund Banks; is he aware that these depositors were guaranteed against loss by His Majesty's Government, and that notwithstanding they have been paid no interest for years and that their capital cannot now be recovered; that this state of things was produced by the carelessness of a Government Department in Dublin Castle, by the Loan Fund Board of Ireland, and of its Secretary; and if, in view of these circumstances, he is prepared to refund the money thus lost by these debenture holders.
(Answered by MR. Wyndham.)The Question is based on an entire misconception of the facts. The Government has never guaranteed depositors in the Loan Fund Banks against loss. It has been frequently pointed out that the Government accepts no responsibility whatever for any losses that may have been incurred by depositors, and that the Executive exercises no control over the proceedings of the Board or the individual societies working in connection with that Board. The reply to the Question is consequently in the negative. The Bill now before the House is intended to facilitate the collection of money due to the societies, and should it become law the position of debenture holders of insolvent societies will be materially improved.