Irish Land Purchase Bill.

Manawatu Herald, Volume III, Issue III, 28 March 1890, Page 2

Irish Land Purchase Bill.

♦ Mr Balfour, Seceetary of Iralan d introduced the Irish Land Purchase Bill in the House of Commonstoday. He contended it improved upon, was cheaper and more rapid of execution than Lord Ashbourne's Act. Purchase would be voluntary, and there was no risk to the British taxpayer though British credit was utilised. The maxium advance would be 20 year's rent less local rates paid by the laudlord. The total amount of advances would be limited to £83,000,000 (representing the capitalised value of the numerous Imperial annual grants for Irish purposes), plus £10,000,000 provided under Lord Asbbourne's Act. The money would be re-lent as it was repaid. Mr Balfour, in speaking to the Bill, contended that that the collateral securities provided render it impossible for the Treasury to softs* ti| sixpence of loss. The congested districts wou'd receive a special contribution of £1,500,000 from the Church surplus. The landlords wotfd receive 2f per cent stock or Consols. Mr Gladstone admitted the courageous policy on Mr Ba'four's part, and promised that the measure should have an unbiassed discussion on his sida of the House. The Bill was read at first time, and the second reading was set down for April 15. The Bill has made a favourable impression io|the House of Commons except among the members of the Pamellite party. Mr Gladstone, speaking at a meet* ing ef'tbe NationalfLiberal Club, said Mr Balfour'f Irish Land Par • chase Bill was a bold bid for popularity. The measure involved a larc^e pecuniary liability to the British taxpayer. The Irish Land Purchase Bill creates a central land department The payment of 4 per cent for 49 years ensure a freehold- A special board simervises and amalgamates holdings and controls immigration and emigration, as well as seed supply and the fisheries. The tenants pay the heavier amounts for the first fire years in order to form an insurance fund and erect labourers' cottages. In other respects the Bill is similar to Lord Ashbourne's Act. It is understood that Messrs Parnell and Davitt are opposaed to the measure. ...