We come now to the last stages in the story of Irish finance. The Government of Mr. Asquith decided to introduce the Third Home Rule Bill in the session of 1912, and in 1911 they appointed a Departmental Committee under Sir Henry Primrose to advise them. The able report of that Committee has been laid before Parliament, and it brings our information on the financial relations up to the latest date: They state the “true” Irish Revenue in 1895-6 to have been £8,034,000. They estimate “true” Revenue 1910-11 at 10,300,000. Increase £2,266,000. The “true” local expenditure in Ireland, 1895-6, £5,938,000. The “true” local expenditure 1910-11, 11,344,000. £5,406,000. Thus whereas Ireland in 1895-6 made a contribution of £2,066,000 to Imperial Expenditure, in 1910-11, not only did she make no contribution to Imperial Expenditure, but the British taxpayer was called on to contribute more than £1,000,000 towards Irish local expenditure. But Irish local expenditure is increasing under the heads of old-age pensions, land purchase, and expenses of the Government which will be established in Ireland under Home Rule. The Committee in consequence estimate: The Irish local expenditure in 1913-14 at £12,400,000. The Irish Revenue at 10,350,000. Deficit £2,050,000. for which provision must be made in the forthcoming measure. In order to meet the existing deficit, the Committee suggest that the British Exchequer should take over liability for all old-age pensions which had been actually granted at the date when the Home Rule Bill comes into operation. They estimate that liability at £3,000,000 a year, gradually, of course, diminishing. If necessary, the liability in whole or part of the Irish Constabulary Pensions (£400,000) might also be transferred to the British Exchequer. They advise that the obligation of Ireland to contribute to the Imperial expenditure should be affirmed, but that a settlement of the amount of the contribution should remain in abeyance; and lastly, that the guarantee of the Imperial Exchequer in respect of the Land Stock should remain, but that means should be taken to secure regular payment of the sum due from Ireland to the National Debt Commissioners. I shall contrast later the recommendations of the Committee with the actual provisions of the Home Rule Bill. I will now compare the finance of the three Home Rule Bills which have been submitted to Parliament, those of 1886, 1893 and 1912. THE BILL OF 1886