HL Deb 25 July 1864 vol 176 cc2001-2

Order of the Day for the Second Reading read.

Moved, "That the Bill be now read 2a."—(The Lord President.)

THE EARL OF LEITRIM

wished to know why the Government did not propose to assist public works in Ireland, especially as the blow which had fallen on the manufacturers of Lancashire had been felt with double severity in the sister country?

EARL GRANVILLE

said, that when some years since great distress prevailed in Ireland this country cheerfully agreed to a large loan of money for public works in that country, but he believed that a large portion of it had not yet been repaid. This was not a grant of money, but a loan on excellent security.

THE EARL OF POWIS

called attention to the rate of interest to be paid under the Bill. Since 1859 the rate of interest for money to be employed on public works that were executed not for profit, had been reduced by a Treasury Minute to 4 per cent, and he asked why in this case the interest required to be paid was only 3½ per cent?

Motion agreed to: Bill read 2a accordingly, and committed to a Committee of the Whole House To-morrow.