§ MR. FETHERSTONHAUGH (Fermanagh, N.)To ask the Chief Secretary to the Lord-Lieutenant of Ireland whether he has had his attention directed to a memorial presented to the Attorney-General for Ireland by Mr. John Owens, J.P., on behalf of the debenture holders of a number of loan funds in Tyrone, Donegal, and Fermanagh; and whether, having regard to the fact that these loan funds were rendered insolvent by the effect of a decision of the Queen's Bench Division in 1896, upsetting the practice of over half a century, carried on under the management of a Government Department, and that the money lost represents the savings of persons in a humble rank of life who trusted their money to the loan funds on the security of their being under Government control and audit through the Loan Fund Board, any steps will be taken by the Irish Government to assist the people whose money has been lost through no fault of their own.
(Answered by Mr. Birrell.) The hon. and learned Member is mistaken in supposing that the Government are in any way responsible for loss which may have been sustained by debenture holders in loan fund societies. In the first place 1379 the Loan Fund Board is not a Government Department, and the Government are not responsible for the administration of the Board. The fact is that a large amount of money was irregularly lent by certain loan fund societies which are under local management, and that these loans were irrecoverable. In 1906, the Government procured legislation which provided, so far as they thought possible and just, for the recovery by such societies of debts which had legally lapsed. As regards the responsibility of the Loan Fund Board, I am informed by the Board that they called the attention of the local managers from time to time to the irregularities which were discovered by the Loan Fund Inspector. The Government cannot further assist, by legislation or otherwise, the people whose money may have been lost.