The total charge on the fund up to March 31st, 1910, was about 48-¾ million pounds in respect of advances made on the security of the fund, and, taking pending applications for advances into account, the approximate charges amounted at that date to about 105 millions. The Act of 1891 was amended in various respects by Mr. Gerald Balfour’s Act of 1896, which introduced, among other changes, a method of reducing every decade (up to thirty years after the advance was made), the annuity to be paid by the tenant purchaser. As under the “Ashbourne Act” of 1885, this annuity was calculated at £4 per cent. on the purchase money, 2-¾ per cent. being for interest, and 1-¼ per cent. being for sinking fund. Under Mr. Gerald Balfour’s system, during the first decade after the purchase the annuity is calculated on the original advance, and during the second and third decades on the portion of the advance which is ascertained to be unpaid at the end of the previous decade. At the end of the third decade the annuity is calculated on the amount of the advance then outstanding and runs until the entire debt is paid off. The Act of 1896 also permitted the Land Commission to dispense with the whole or any part of the guarantee deposit required under the Act of 1885 if the security for the repayment of the advance was considered to be sufficient without it (Section 29). The number of loans issued under these Acts of 1891 and 1896 to tenant purchasers up to March 31st, 1910, was 46,828, amounting in all to £13,145,762, and being at the rate of 17.7 years’ purchase of the rents (Land Commission Report, 1910, p. 110). Irish Land Act, 1903 (the “Wyndham Act”). I have traced the history of the Irish Land Acts down to 1896. Some short Acts were added to the code during the following years to clear away certain difficulties, and in 1903 Mr. Wyndham brought in and passed his Irish Land Act, which may be said to have opened a new era in Irish agrarian legislation. Under it a new body known as Estates Commissioners was formed, and included in the Land Commission to administer land purchase in Ireland.