§ Sir J. BUTCHER
asked the Chief Secretary for Ireland whether he will explain why the amount standing to the credit of the constabulary force, which was stated by him on 11th August, 1921, to amount to £289,358 on 31st March, 1920, is now stated by him to be only £188,000?
§ Sir H. GREENWOOD
The reply given on the 11th August, 1921, referred to the amount of the investments of the benefits branch of the constabulary force fund and gave their face value. My reply of the 7th ultimo, referred to their estimated value at the present time. In this connection I am obliged to my hon. and learned Friend for drawing my attention to these figures, as I find, on further inquiry, that the figure of £180,000, given by me on the 7th ultimo, as to the present value of the investments proves to be an underestimate. That sum invested at 6 per cent. would produce, approximately, the same annual interest as does, in fact, accrue from these investments. The sum of £220,000 represents as nearly as possible their present value.