In a letter to Sir John Colomb, M.P., published in
Monday's papers Mr. Walter Long made an important announcement in regard to the land purchase deadlock in Ireland. After explaining the difficulties which led to the rejection of his successive proposals last July—viz., (1) that vendors should take two-thirds payment of the purchase-money in land-scrip and one-third in cash ; and (2) one-half in scrip and the remaining half in cash—Mr. Long states that after consulta- tion with the Treasury he has come to the following arrange- ment. The Treasury have agreed to provide an additional two millions before the end of the present year, together with such an amount of stock during 1906 as willproduce in two loans ten millions of cash, thus bringing the amount of funds pro- vided by the end of next year to twenty-three millions of stock for the purposes of the Land Act of 1903. He hopes that in this way existing difficulties will be overtaken, and the working of the Act expedited. " Of course," he adds, " if I were fortunate enough to obtain support to the reintroduction next Session of a measure enabling vendors at their option to take payment one-half in stock and one-half in cash, the Act could probably be carried to completion throughout Ireland in a much shorter period than is practicable under present circumstances." The new arrangement, it may be noted, has not excited enthusiasm amongst the landlords, inasmuch as the value of lands for the sale and purchase of which the necessary formalities have been gone through already amounts to twenty-eight millions, or five millions more than the amount available up to the end of next year.
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