asked the Minister for Finance whether, in view of the considerable delay which has arisen in the preparation of certificates for subscribers to the Dáil Loan of 1919-20, due to no fault of the subscribers, he will consider the advisability of granting interest at the rate of 5 per cent. per annum on the bonds, such interest to date from the 1st June, 1927, when the bonds became payable.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - INTEREST ON BONDS.
I am unable to agree with the suggestion that subscribers to the Dáil Eireann Internal Loan are not in any way responsible for the delay which has occurred in authorising repayment in certain cases. I would remind the Deputy that although public notices were inserted in the Press in the beginning of 1925 inviting subscribers to apply for repayment, not more than a very small proportion did in fact apply within the prescribed time. The majority of subscribers did not apply until after the 1st June, 1927. In many cases in which application was made, the particulars furnished by the applicants did not correspond with those recorded in my Department, while in many others it was not possible to authorise repayment because those responsible for the collection of subscriptions in certain areas did not furnish particulars of the subscriptions collected. Efforts are being made to obtain these particulars in cases in which they are still outstanding.
An amendment of the Dáil Eireann Loans and Funds Act, 1924, would be necessary to enable me to pay interest as suggested by the Deputy, and I am not satisfied that a case has been made for the introduction of legislation to that end.
I should like to say in addition that I attended at a meeting of the Committee on Procedure and Privileges and promised to make a general statement to the House on the procedure adopted in regard to the verification of applications for repayment of the Dáil Eireann Loan; the position which has now been reached; the difficulties which have to be contended with; and generally to make Deputies themselves understand the position better when they are face to face with constituents who may ask questions on it.
Will the Minister consider handing to each Deputy a list of subscribers in his areas for the purpose of getting this matter finished with once and for all?
I hope to make the promised statement next week, but I certainly could not do what the Deputy suggests.