Another exposure of Mr. Parnell's inaccuracy was contained in the
Times of Monday. As our readers know, he had asserted that while the Corporation of Belfast could only float their Municipal Debt at 34 per cent., the Corporation of Dublin had floated theirs at 3i per cent. It now appears that the terms were very different. The Dublin stock is not redeemable at par for 55 years, while the entire Belfast stock must be re- deemed within 39 years, and the present issues run for 10 and 20 years only. That makes the greatest possible difference, as every financier knows. Moreover, it is asserted, though we do not know with what truth, that the Dublin stock was floated partly by the help of the Roman Catholic Episcopate, who put some pressure, as it is alleged, on the trustees of Roman Catholic trusts to invest in the Dublin stock. That may be true or false, but the difference between the terms on which the two classes of stock are issued is itself a sufficient explana- tion of a great difference in the demand.
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