§ 56. Mr. PATRICK WHITE
asked the total amount at present lodged in the Irish Post Office Deposit Department; and whether the Financial Secretary to the Treasury will consider the advisability of an advance being made from this account to Irish public bodies for the purpose of erecting labourers' cottages?
§ Mr. MASTERMAN
The estimated balance due to depositors whose accounts were opened in Ireland was, on the 31st December last (the latest date for which the figures are available), £12,823,900. The proposal that direct advances should be made to Irish public bodies for the purpose of erecting labourers' cottages is contrary to the well-established principle that the investment of Savings Bank moneys should be restricted to securities charged on the Consolidated Fund, or guaranteed by that fund, and is not, therefore, one which I could adopt.