It is stated in official circles that an offer was recently made to the 'Treasury of a considerable sum of money, which, the donor proposed, should be allowed to accumulate for a long period so that it may' ultimately be devoted towards paying off the National Debt. The Chancellor of the Exchequer, it is understood, was ready to accept the gift, but there were difficulties in the way of its use in the manner proposed. It was decided that a provision should be made to give effect to the donor's wishes and for this purpose a new clause was proposed to the Trust Fund Validation Bill, which was considered in committee in the House of Commons on December 21, Sir Thomas Inskip, the Solicitor-General, then moved a new clause to exempt 2 benevolent fund from the Jaw against perpetuities in order that it may accumulate for a longer time than the law against perpetuities allows and that it may, in the end, be used to pay off the National Debt, A new clause was added to the Bill, which was given the Royal Assent before Parli ment was prorogued. Though it was generally known that a definite offer had been made to the Chancellor of the Exchequer, the sum was not known. A report to-day puts it at £100,000—British wireless. through Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.