§ Mr. GINNELLasked the Secretary to the Treasury, if he will explain the origin and give a full account of the payments into and out of and the present condition of the account called Restitution Annuity dealt with in the Report of the Chairman and four other Members of the Financial Relations Commission, paragraphs 50, 51, 52, and 53, and for which the Treasury failed to produce before that Commission any statutory or equitable authority?
§ Mr. HOBHOUSEThe Restitution Annuity Fund referred to was set up by Section 11 of the National Debt and Local Loans Act, 1887. The annuity ceased on 30th September, 1897 under the provisions of Section 4 (1) of the Public Works Loans Act, 1897. During its existence, a total sum of £1,365,000 was paid over to the National Debt Commission, and was used to cancel debts amounting to £1,352,818 83. 0d. An account of the object of the annuity and the basis on which its amount was calculated will be found in the House of Commons Paper (No. 166 of 1887).