rose to state the terms of the loan of 3,000,000l. made in Ireland. He observed that he did not then intend to occupy the committee with a general view of the finances of Ireland; that his right hon. friend the Chancellor of the Exchequer for England having postponed to a future day his general statement, he would, in order to adopt himself to the usual course, follow him in a similar line with respect to Ireland; but that it was necessary that he should state the loan this day, and hoped its terms were such as would receive their fullest approbation. He then proceeded to state that the loan for 3,000,000l. in Ireland, had been contracted for on the following terms—

The charge for interest for money received, being to the public 4l. 7 s. 7d. one-fifth per cent. and the total charge for interest and sinking fund only 51. 11s. 9d. This he would take upon him to say had been the best bargain made for the public for many years, and with the sincerest feelings, he hoped it would prove fairly advantageous to those who had contracted for it; he could not avoid drawing the attention of the committee to the peculiar circumstance, of this being the largest loan ever made in Ireland; that the legal interest in that part of the empire was 6l. per cent; that the loan made in England this year was smaller than usual, and much less than had been previously expected; that the legal interest here was but 5 percent.; and that, though the loan to this country was made on terms admitted by all as eminently advantageous, yet had the loan in Ireland been negociated at 4s. 7d. less interest per cent. and 7s. per cent. less total charge to the public. He hoped, therefore, to meet the full concurrence of the committee to the resolutions which he had to propose thereon, and felt it unnecessary to detain them by any more lengthened statements, reserving himself for any observations which might be made, or any further information which might be demanded on the subject.

The Resolution was then put and agreed to, that a sum not exceeding 3,000,000l. be raised by annuities in Ireland, for the service of that country. The Report was ordered to be brought up on Monday.