Dermot Meleady

John Redmond


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County.143 The eight delegates now awaited only the Christmas recess to get down to business.

      VII

      Wyndham introduced his great Land Bill on 25 March 1903. Taking its ambitious scope from the conference report, it went far beyond all previous land-purchase legislation. The tenants would repay the purchase money over 68.5 years at an interest rate of 3.25 per cent. To the purchase sum the state would add a 12 per cent bonus from a fund of £12 million, taken from Irish revenues, to be paid to the landlords as an inducement to sell. The Land Bill set upper and lower limits, called ‘zones’, on the reductions represented by the tenants’ annuities on their current rents. These reductions (40 per cent to 20 per cent in the case of