§ Sir C. YATEasked the Secretary of State for India what sum the assets of the Madras Military Fund amounted to when taken over by the Government in 1862, when the fund was closed to future entrants; and whether the increased interest now being obtained on that sum is sufficiently high to warrant an increase of 25 per cent. to all remaining annuitants on that fund, the same as has already been granted to pensioners under the Indian Military Service Family Pension Fund?
§ Mr. MONTAGUThe Madras Military Fund, although closed to future entrants in 1862, was not transferred to Government until 1866, when the assets of the Fund amounted to £1,211,611. This amount, with interest thereon, was exhausted many years ago in making good the excess of payments in respect of pensions over receipts from subscribers; and this excess already averaged over £140,000 a year before the recent increase of 25 per cent. was granted as an act of grace in 65W the lower rates of pension. I cannot see my way to authorise any further concession at the expense of Indian revenues.