§ MR. MOONEY (Newry)I beg to ask the Chief Secretary to the Lord-Lieutenant of Ireland if the fund, referred to in the annual Report of the Department of Agriculture and Technical Instruction for Ireland as the endowment fund, has been created under Section 16, Subsection 3, of 62 and 63 Vic, c. 50; if not, under what section, if any; and 72 whether, seeing that Section 16, Sub-section 3, is merely the usual proviso for the retention of unexpended yearly balances, and that, on 31st March 1905 the Department had, in addition to the ordinary yearly balance of £37,077 1s. 9d., a sum accumulated and invested amounting to £410,837 15s. l1d., and, in view of the fact that many schemes beneficial to the country for the purposes of agriculture and other rural industries or sea fisheries have been refused aid by the Department on the ground of lack of funds, he will consider the advisability of releasing this sum of money, or a portion of it, and have it devoted to the objects for which it was primarily voted by Parliament.
MR. BRYCEThe endowment fund of the Department of Agriculture and Technical Instruction was created under the provisions of Section 15 of the Agriculture and Technical Instruction Act of 1899. The nominal or face value of the securities at present held is £379,431 15s., the real value, at present prices, being approximately £357,430. In addition, the Department have £35,000 in bank on temporary deposit, and the total value of the endowment fund is therefore £392,430. The liabilities on this sum which are earmarked under the terms of Section 16 (1) (a) to (f) of the Act, amount to £122,540; and allocations sanctioned by the Agricultural Board for agricultural colleges and stations, and agricultural schemes, amount to £139,960. The unallocated balance, amounting to about £130,000, is, in the view of the Department, required to meet the present excess of annual expenditure over normal income on the purposes of agriculture and other rural industries, and sea fisheries, as defined in Section 30 of the Act.
§ MR. MOONEYIs the right hon. Gentleman aware that the figures mentioned in my Question are taken from the official publication of the Department, and inasmuch as the right hon. Gentle man has denied the authenticity of the statement that the fund amounts to £410,837, will he take steps to see that the Department publish accurate figures?
§ MR. DILLONIs the deficiency in the annual revenue of the Department due to the subsidies paid to the Irish Agricultural Organisation Society?