§ SIR THOMAS ESMONDE (Wexford, N.)
I beg to ask the Chief Secretary to the Lord-Lieutenant of Ireland where the £111,355 5s. 3d., the unexpended balance of the Irish Development Grant for 1904, is deposited, and at what rate of interest; and, if it is not drawing interest, if he will arrange for the inviting of tenders from the Irish banks for deposit interest on this unexpended balance; and if he will further arrange to have tenders invited from the Irish banks on every 31st of March for the use on deposit of whatever may be the current balance of the Irish Development Grant each year.
§ MR. WALTER LONG
The unexpended balance is at present in the Paymaster-General's supply account, and not in any interest-bearing account the question whether this balance should be temporarily invested is at present engaging attention.
§ MR. DILLON
asked whether the right hon. Gentleman had ever heard of a large sum of money like this on which no interest was payable.
§ SIR THOMAS ESMONDE
As this matter is of great importance to Ireland, will the right hon. Gentleman pursue his inquiries in other directions and ascertain whether there are any other branches of Irish administration in which large sums of money are not bearing any interest.
§ MR. CLANCY (Dublin County, N.)
Does the right hon. Gentleman's Answer mean that this Irish money is being used for English purposes when no money is available for certain Irish purposes?
§ MR. MACVEAGH
That is not an Answer to the Question, The Question I ask is where is this money deposited, and it is no Answer to say that the matter rests with the Paymaster-General.
§ * MR. SPEAKER
The Answer may not be satisfactory to the hon. Gentleman, but an Answer has been given.