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Hokitika Guardian, 18 June 1932, Page 4

In addition to the differences over the Oath between the Irish Free State, and the British Government, there is the announced intention of Mr de Y.d ra not to pay further land annuities. The Trisli Free State laud ammitieis, which amount to £3,13",033 «. year, are made to British holders of Irish land stock, who provided the money by which the land of the Fr?o State has been transferred from the ownership of the landlords to that of the oceupieis during the last iiftv veiuis. The Irish Land Commission, which collects the money, and the British Treasury, which pays it over to tho investors, make no profit on the transaction. The British Treasury, in fu'.t, loses heavily because the annual b

charge in respect of bonus and excess stock is £1,361,C0D, of which the Free State pays only £134,500, while the British taxpayer lias to make up the difference. It has been argued by the Fiarina Fail leaders that Article 5 of the Treaty held the Free State liable

for a share of the national debt of the old United Kingdom and that the Free State was released from the obligation by the Boundary Settlement Act of 1925. If, it is contended, the land stock was not part of the national debt-, then no liability in respect of it as assumed under the Treaty; if it was part of the national debt, then any liability was removed by the 1925 agreement. Five senior counsel, of whom one was Air Geoghegan, now Minister for Justice, issued an opinion in 1930 supporting this view.