I move:
Go ndeontar suim ná raghaidh thar £890,000 chun slánuithe na suime is gá chun íoctha an Mhuirir a thiocfaidh chun bheith iníoctha i rith na bliana dar críoch an 31adh lá de Mhárta, 1936, chun Deontais-i-gCabhair do Chiste na nIasachtaí Aitiúla.
That a sum not exceeding £890,000 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, 1936, for a Grant-in-Aid of the Local Loans Fund.
I should like to explain to the House, Sir, that I have moved this motion as a matter of form in order to make an explanation on a point of procedure. Deputies will recall that the Local Funds Act, recently passed, authorised the establishment of a Local Loans Fund by repayments on foot of existing loans, by moneys borrowed on behalf of the Fund, either from the Exchequer or other Government funds, or from the public by the issue of securities. The Fund contemplated in the Act was duly established on the 1st May last, and as from that date there came to an end the non-statutory arrangement under which local loans transactions were financed with the aid of moneys voted annually by the Oireachtas. It is not necessary, therefore, to vote an Estimate for local loans for 1935-36. Whatever money is required for the purpose will, as I have said, be made available by the means authorised by the recent Act. I accordingly propose to withdraw the Estimate. This step, I am advised, is not essential from the point of view of financial procedure, but it is regarded as desirable that there should be a record of the withdrawal of the Estimate in order that the Dáil records may be complete. Accordingly, as things stand, the natural course is that which I have adopted, namely, to propose and withdraw the motion, which I accordingly do.
