CHAPTER IV. 



THE WYNDHAM LAND ACT : ITS PROVISIONS. 



The Wyndham Land Act was intended to bring 

 about a voluntary transference of all the Irish 

 land still in the hands of the landlords. For 

 this purpose the Treasury may advance up to 

 lOO millions sterling at 2^ per cent, interest with 

 an additional ~ per cent, sinking fund. The 

 payment of the interest is secured upon the 

 annual grants-in-aid given by the Imperial 

 Treasury to the Irish County funds. These can 

 be held back if payment is not made. The 

 advances given to the tenants for the purpose of 

 purchasing are made in cash. The tenants 

 receive the advances from the Land Commission, 

 within which a body consisting of three persons 

 and named the Estates Commissioners has been 

 formed for the purpose of carrying out the Act. 

 The advance to any individual tenant is limited 

 to ;f5,ooo, or in exceptional cases, /^j,ooo^ 



The Treasury procures the necessary funds by 

 means of a loan at 2^ per cent. In order to 

 guard against demoralizing the money market it 

 bound itself not to issue more than five millions 



^ Formerly ;^3,ooo. 



