§ Mr. McNEILL
Under the Irish Free State Land Purchase (Loan Guarantee) Act, 1924, the Treasury have guaranteed the principal of, and interest at a rate not exceeding 4½ per cent., per annum on, the Land Bonds to be issued by the Government of the Irish Free State within a period of eight years from the passing of that Act for the purpose of land purchase under the Free State Land Act of 1923 up to a limit of £30,000,000. Under the Northern Ireland Land Act, 1925, the Treasury are responsible for the issue of 4½ per cent. bonds, estimated to amount to nearly £9,000,000, for the purposes of that Act, 1232 guaranteed by the Consolidated Fund. Any cost falling on the Exchequer is recoverable from the Northern Irish share of reserved taxes under the Government of Ireland Act, 1920. There is no pledge of British credit to the Irish Free State or Northern Ireland for agricultural short-term credits.
§ 55. Mr. LAMB
asked the Chancellor of the Exchequer the extent to which, and the terms on which, British Government credit has been pledged in the Overseas Dominions (other than the Irish Free State), Crown Colonies, and Dependencies, for the purposes of land purchase, lands improvement, and agricultural short-term credits, respectively?
§ The SECRETARY of STATE for DOMINION AFFAIRS (Mr. Amery)
Apart, possibly, from certain liabilities under the Empire Settlement Act, 1922, there is nothing, so far as I am aware, in relation to the self-governing Dominions which falls within the scope of my hon. Friend's question. Grants or loans-in-aid have been made by His Majesty's Government to Colonies on the occasion of a natural disaster, such as the Mauritius hurricane of 1892, or for other causes, part of which was in some cases no doubt expended in improvements as well as in repairing damage. In 1898 a grant of £15,000 was made to St. Vincent for peasant settlement. Apart from such grants or loans, I am not aware of any Imperial guarantee of loans for the purposes described.