§ THE EARL OF DERBYsaid, he wished to ask the noble and learned Lord on the Woolsack a question with reference to his explanation, given a few days ago, of the results of the Act for the Augmentation of the Livings in the gift of the Lord Chancellor, and with reference to which there appeared to be some misapprehension out of doors. Several of the newspapers stated, that the Act would place a very large sum of money at the disposal of the Ecclesiastical Commissioners. Now he (the Earl of Derby) was well aware, as was the noble and learned Lord, that this was not the 1241 case; but if it were supposed to be so it would occasion misapprehension and considerable dissatisfaction if it were believed that the sums of money in the hands of the Commissioners were not to be appropriated to the augmentation of small livings. He thought he was not mistaken in saying, that the Commissioners had nothing further to do than to receive the money and apply the interest to the augmentation of the livings of the sale of which it was the produce. There was another portion of the Act providing for the sale of other benefices the income derived from which would not be applied to the augmentation of those livings, but to the augmentation of the other livings retained in the gift of the Lord Chancellor. In point of fact, the Commissioners exercised no jurisdiction or authority over any portion of the funds derived from these benefices.
THE LORD CHANCELLORsaid, that the noble Earl had correctly apprehended the Act and stated its effect. The monies receivable under it were divisible into two classes, one of which was applicable to the augmentation of the livings, from the sale of which it was derived, and the other portion, derivable from the sale of a hundred livings not specified, which might be sold to landowners upon defined terms, and the produce of which was to be applied to the augmentation of livings retained in the patronage of the Lord Chancellor. Of the money arising from the sale of livings which was applicable to their augmentation, the first moiety was certainly paid over to the Ecclesiastical Commissioners, but upon these terms, that they should grant to the incumbent a life annuity at the rate of £3 10s. per cent for every £100 so paid over. The other moiety was suspended, and directed to be accumulated until the avoidance of the living; and the Ecclesiastical Commissioners, who had offered every facility for the working of the Act, had kindly consented to take charge of the accumulation and of the investing of the interest of this second moiety. With regard to the first moiety, they paid an annuity in return for it; and with regard to the second, they were merely trustees for the accumulation of the capital and interest. The money derived from the sale of the hundred livings would not go into the hands of the Ecclesiastical Commissioners at all, unless he (the Lord Chancellor) requested them to take charge of it, and in that case they would take charge of it merely as trustees.