§ 14. Mr. HORNER
asked the Secretary to the Treasury if he will state the approximate amount of Irish Land Stock; and what were the reasons that caused the Treasury to exclude this stock from participating in the benefits of the conversion scheme under the War Loan Bill?
§ Mr. MONTAGU
Irish Land Stock amounting approximately to £103,000,000 was in existence on the 1st instant. The conversion scheme is limited to stocks forming part of the National Debt, the dividends on which are payable directly from the Consolidated Fund of the United Kingdom. The Irish Land Stocks, the primary security for which is the Land Purchase Fund, stand in an altogether different position.