Dáil Éireann debate -
Wednesday, 21 Nov 1928

Vol. 27 No. 4

IN COMMITTEE ON FINANCE. - VOTE No. 8—LOCAL LOANS.

MINISTER for FINANCE (Mr. Blythe)

I move:—

Go ndeontar suim ná raghaidh thar £394,000 chun slánuithe na suime is gá chun íoctha an Mhuirir a thiocfidh chun bheith iníoctha i rith na bliana dar críoch an 31adh lá de Mhárta, 1929, chun capital do sholáthar do Chiste na nIasachtaí Aitiúla, agus chun aisíoc do dhéanamh le Rialtas na Breataine mar gheall ar iasachtaí áitiúla atá gan íoc.

That a sum not exceeding £394,000 be granted to complete the sum necessary to defray the Charge which will come in course of payment during the year ending on the 31st day of March, 1929, to provide capital for the Local Loans Fund and to make repayment to the British Government in respect of local loans outstanding.

Mr. MacENTEE

I just want to express the opinion of the members on this side of the House as regards this Vote. We note that the sum to be provided includes £600,000, which is an annuity payable to the British Local Loans Fund under Article 5 of the Ultimate Financial Settlement of the 19th March, 1926, in respect of the agreed amount of advances therefrom outstanding on 1st April, 1926. As our Party are opposed in toto to the Ultimate Financial Settlement, it is quite obvious that we could not allow this Vote to go without a challenge. Therefore, in view of the agreement that has been arrived at, that the other Votes should be taken more or less without discussion, I am simply going to be content with explaining our attitude on the matter and saying that we must ask for a division in regard to it.

Mr. BLYTHE

I have nothing to say in respect of this Vote that has not been already said. The arrangement to repay in a twenty year period a fixed annuity of £600,000, instead of collecting the repayments and interest and remitting the proceeds, was an advantageous arrangement to this country and will ultimately bring a sum running well into seven figures into the Exchequer.

Question put.

The Committee divided: Tá, 80; Níl, 52.

Tá

• Aird, William P.
• Alton, Ernest Henry.
• Anthony, Richard.
• Beckett, James Walter.
• Bennett, George Cecil.
• Blythe, Ernest.
• Bourke, Séamus A.
• Brennan, Michael.
• Broderick, Henry.
• Brodrick, Seán.
• Byrne, Alfred.
• Byrne, John Joseph.
• Carey, Edmund.
• Cassidy, Archie J.
• Cole, John James.
• Collins-O'Driscoll, Mrs. Margt.
• Colohan, Hugh.
• Conlon, Martin.
• Connolly, Michael P.
• Cooper, Bryan Ricco.
• Corish, Richard.
• Cosgrave, William T.
• Craig, Sir James.
• Crowley, James.
• Daly, John.
• Davis, Michael.
• De Loughrey, Peter.
• Doherty, Eugene.
• Dolan, James N.
• Doyle, Edward.
• Doyle, Peadar Seán.
• Duggan, Edmund John.
• O'Hanlon, John F.
• O'Leary, Daniel.
• O'Mahony, Dermot Gun.
• O'Reilly, John J.
• O'Sullivan, Gearoid.
• O'Sullivan, John Marcus.
• Roddy, Martin.
• Rice, Vincent.
• Dwyer, James.
• Egan, Barry M.
• Esmonde, Osmond Thos. Grattan.
• Fitzgerald, Desmond.
• Fitzgerald-Kenney, James.
• Haslett, Alexander.
• Hennessy, Michael Joseph.
• Hennessy, Thomas.
• Hennigan, John.
• Henry, Mark.
• Hogan, Patrick (Galway).
• Holohan, Richard.
• Jordan, Michael.
• Keogh, Myles.
• Law, Hugh Alexander.
• Lynch, Finian.
• Mathews, Arthur Patrick.
• McDonogh, Martin.
• McFadden, Michael Og.
• McGilligan, Patrick.
• Mongan, Joseph W.
• Morrissey, Daniel.
• Mulcahy, Richard.
• Murphy, James E.
• Murphy, Timothy Joseph.
• Myles, James Sproule.
• Nally, Martin Michael.
• Nolan, John Thomas.
• O'Connell, Richard.
• O'Connell, Thomas J.
• O'Connor, Bartholomew.
• O'Donovan, Timothy Joseph.
• Reynolds, Patrick.
• Shaw, Patrick W.
• Sheehy, Timothy (West Cork).
• Thrift, William Edward.
• Tierney, Michael.
• Vaughan, Daniel.
• White, Vincent Joseph.
• Wolfe, Jasper Travers.

Níl

• Allen, Denis.
• Blaney, Neal.
• Boland, Gerald.
• Boland, Patrick.
• Bourke, Daniel.
• Brady, Seán.
• Briscoe, Robert.
• Buckley, Daniel.
• Carney, Frank.
• Carty, Frank.
• Clery, Michael.
• Colbert, James.
• Cooney, Eamon.
• Corkery, Dan.
• Corry, Martin John.
• Crowley, Fred. Hugh.
• Crowley, Tadhg.
• Derrig, Thomas.
• De Valera, Eamon.
• Fahy, Frank.
• Flinn, Hugo.
• Fogarty, Andrew.
• French, Seán.
• Gorry, Patrick J.
• Goulding, John.
• Hayes, Seán.
• Holt, Samuel.
• Jordan, Stephen.
• Kennedy, Michael Joseph.
• Kent, William R.
• Kerlin, Frank.
• Killane, James Joseph.
• Killilea, Mark.
• Kilroy, Michael.
• Lemass, Seán F.
• Little, Patrick John.
• Maguire, Ben.
• McEllistrim, Thomas.
• MacEntee, Seán.
• Moore, Séamus.
• Mullins, Thomas.
• O'Dowd, Patrick Joseph.
• O'Kelly, Seán T.
• O'Reilly, Matthew.
• Powell, Thomas P.
• Ruttledge, Patrick J.
• Ryan, James.
• Sexton, Martin.
• Smith, Patrick.
• Tubridy, John.
• Walsh, Richard.
• Ward, Francis C.

Tellers—Tá: Deputies Duggan and P.S. Doyle; Níl: Deputies G. Boland and Allen.

Motion declared carried.