§ Now, Sir, the manner in which we now provide for the interest of our Debt and its gradual repayment is as follows: We set aside £25,000,000 a year as a fixed Debt charge. Out of that fixed Debt charge has to be paid the interest and management of the Debt and the cost of the terminable annuities, and the balance goes, under the name of the New Sinking Fund, to the further redemption of the Debt. In this year the cost of interest and management of the Debt will be £17,264,000; and, therefore, out of the £25,000,000, a sum of £7,736,000 will be available for the reduction of the Debt. That is the largest amount that has ever been set aside for that purpose out of the fixed Debt charge. In the year 1884–85, which until lately was always looked upon as the most flourishing period of the Sinking Fund, the sum of £6,852,000 was so set aside. It then decreased. In 1887–88 it was only £4,963,000. From that time it gradually rose, until in 1894–95 it was £6,552,000.