NARROW MAJORITIES.

Dominion, Volume 2, Issue 557, 12 July 1909, Page 5

NARROW MAJORITIES.

IRISH LAND BILL. MEMBERS AWAY: WELSHMEN SULKY. LABOUR SAVES THE DAY. (By Tel?sraph-rross Aasoclatioq.-CopyrlEht.) (Rec. July 11, 5.5 p.m.) Lqndop, July 10. The House of Commons considered in com. mitteo yesterday the Government's Irish Land Purchase Bill, which aims, inter alia, at strengthening tho finance of tho purchase scheme initiated by the Unionists in 1903, and at providing compulsory powers, of resumption in certain cases. Increase In Tenant's Purchasing-Annuity. Clause 1 provides that the annuity to be paid by tho tenant (that is, tho amount that the tenant pays in order to cover interest on one borrowed purchase money, also sinking fund) bo increased from 3} per cent, to 3 J per cent. This increase is duo ito the fact that, under the Bill, laqd purchase stock will in future be issued at' 3 per cent., or,} per cent: more than the existing 2$ per cent, stock (which has been issued at a loss, averaging only 88), and the tenant is thorcforo called on to pay J per cent, incicased annuity. Mr. John Redmond, leader of 'the Nationalists, moved an amendment to omit tho increase in the tenant's annuity, The amendment was supported by Mr. Geo. Wyndbam (the antljqr of the scheme of 1003) and by other Unionists. , Exciting Divisions. On a division being taken the amendment was negatived by 35 votes, the voting be- v ing:— For the amendment 149 Against 184 Government majority ... 35 The'closeness of the division caused great excitement. Thou a small amendment standing jn the name of tho author of the Bill (Jlr.'Birrell, Secretary for Ireland) was carried by 34 votes (177—143). Finally, tho motion "that clause 1 stand part of the Bill" was earned by a still smaller margin, the figures being:— For tho motion 172 , Against ~ 140 Government majority ... 32 Tho result of the division was greeted with Unionist cries of "Drop the Bill." The sparse attendance pf Liberals was duo to the Strain of an all-night sitting on tho Finance Bill and the distractions of the Bud* got campaigu iu the provinces; also, to tho fact that the Welsh members deliberately abstained from attending nil the debates on the Bill because the Welsh Disestablishment Bill has been shunted in its favour. Labour 3avcs Ministry From Dsfoat. The result was that the Labour parly alone saved tho Government from defeat. Among those who voted against the Government were Mr.. Hdaire Belloc (Liberal) and three Labour members, Messrs. O'Grady, Thornc, and Clynca. > Tho uniform ground of complaint throughout tho debate was that Clause 1 of the Bill would bring the land purchaso schenio to an absolute deadlock.

, Mr. Birrell argued that its provisions* were' just.and fair; .' '"■•'-•'. .'i'+'.;..:■;'... ?.■•' ■','■ ■ .

FAILURE OF 2? PER 'CENT. STOCK,'

/.Under the 2J per cent. '•. stock, arrangemont the Irish tenant paid a purchasing-annuity of 1 3} per cent., £o cover the 2* per oent. and sinking fund.'/ Now that a. 8. per cent; stock is proposed, the Bill also; proposes a 3J per ecntJ annuity, J per-cent, being added on'caob side of ;the accounts., Mr. Redmond wished to delete the .tenants increase.; ~../ ••■'.• ,-The issue of »3 per' oent. stock .is deemed 1 necessary because-tho 2\ stock does not bring in enough': money, averaging only 88/ For instance, X3f1,000,0f10. of the 1003 i\. per cent stock brought' only • in money. There is ..thus.a huge loss "to bo faced; '.'•:•■'. • Up to date,; the completed purchase represented and landlords and-.tenants ■w* ,F? od )'. for a further ,£52,000,000. :■■ Mr. Wyndhaui in 1903.estimated' tho total /amount for purchase as but Mr. ,B»rrell estimates that it will rcaoh .£180,000,000.