§ Mr. GINNELL
asked the Secretary to the Treasury if, in order to illustrate the effect of the Irish Land Bill now before Parliament if enacted, he will state what the Treasury estimate will be, the annual payment for principal and interest respectively; the number of years it must be made; and the total amount in principal and in interest which must be paid by a tenant purchaser of a £25 yearly rent at the average price of Irish land since 1903?
§ Mr. HOBHOUSE
A tenant purchaser of a £25 yearly rent at the average price of Irish land since 1903, say, 22.7 years purchase, would pay under the present Irish Land Bill an annuity at 3J per cent, of £567 10s.—£19 17s. 3d., or, of which ½ per cent, or £2 16s. 9d. represents payment to Sinking Fund. If the Sinking Fund accumulates as on the average it probably will do so as to repay the principal in 65½ years, the total payment made by the tenant purchaser at the end of that period will have been £1,301, of which £567 10s. will represent the repayment of principal.