NOTE.—It has been suggested, since the above was written, that the balance in the Irish Post Office Savings Banks (now about £12,500,000) might be available to the new Irish Government, for advances to farmers and other public purposes. The suggestion involves the applicability of such advances for the purchase or amalgamation of the Irish railways under an Irish public authority. Such a proposal will not bear close examination.

It is an essential condition of the existence of Savings Bank deposits that the deposits should be always available on the call of depositors; and this condition would no longer be fulfilled if the balances were locked up in Irish railways. In fact, if there was any suggestion that these balances should be used for the purpose of enabling the Irish Government to run the railways on uncommercial principles, the deposits would very soon diminish or disappear—and this apart from the question whether under Home Rule, the deposits would in any event remain at anything like their present high figure.

FOOTNOTES:

[92] Viceregal Commission on Irish Railways, Final Report, 1910 (Cd. 5247). Final Report on the Canals and Inland Navigations of Ireland, 1911 (Cd. 5626).

[93] "The Framework of Home Rule," p. 174.

[94] Figures are taken from Viceregal Commission Reports, p. 78, Report.

[95] Page 78, Report.

[96] Page 58, Report.

[97] Final Report, pp. 76-83.

[98] We have taken the Act of 1844 as the basis referred to by the Commissioners, though it is very doubtful (having regard to the great variety of railway share and loan capital), if the terms of sect. 2 are now suitable; moreover sect. 4 requires a special Act of Parliament to be passed to raise the money, and settle the special conditions of the purchase option.

[99] Majority Report, p. 76.

[100] "Framework of Home Rule," p. 281.

[101] Final Report on the Canals and Navigations of Ireland. 1911. (Cd. 5626.)