In view of the
importance of these earlier attempts to secure an approximation to
financial equilibrium, it appears desirable to examine how Ireland would
fare in modern conditions under each of them.
The essential features of the 1886 scheme were as follows:--
1. Customs and Excise to be under the complete control of the Imperial
Parliament.
2. Irish Parliament to have power to levy any other taxes.
3. Ireland to contribute annually to the Consolidated Fund of the United
Kingdom.
(_a_) L1,466,000 for interest and management of Irish share of National
Debt.
(_b_) L1,466,000 for contribution to Imperial Defence.
(_c_) L110,000 for contribution to Imperial Civil Services.
(_d_) L1,000,000 for Irish Constabulary.
4. Contributions 3 (_a_) to 3 (_d_) were not to be increased for thirty
years, but might be diminished.
5. Irish share of National Debt to be reckoned at L48,000,000, and Irish
Sinking Fund to begin at L360,000, increasing by amount of interest
released on redeemed portion of debt.
6. Contribution to Imperial Defence and Civil Services not to exceed
one-fifteenth of the total cost in any year.
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