§ Mr. CHURCHILLI have to inform the House that I have received, as Chancellor of the Exchequer, and have accepted an important gift to the nation. In memory of the Hon. Elsie Mackay, who perished in attempting the passage of the Atlantic by aeroplane, Lord and Lady Inchcape and their children desire, as none of them want to benefit by her death, to place in trust for the nation the sum of £500,000, the residue of her estate which passed to them. Their wish is that this gift should ultimately be applied in reduction of the National Debt. They propose that it should accumulate for a period of roughly 50 years, unless by some earlier date the proceeds with other funds available should be sufficient to redeem the whole of the liabilities of the State. This fund will accordingly be called the "Elsie Mackay Fund."