Land purchase (Ireland) Act 1885 (48 & amp; 49 Vict. c.73), commonly known as Ashbourne Act is the Parliament Act of the United Kingdom, ratified by the Conservative government under Lord Salisbury. This extends the terms already achieved under the Kilmainham Agreement. It organizes  £ 5 million funds and every tenant who wants to buy land can do it. A person can take a loan from the government and will pay it back in monthly installments.
The law was done by, and was named informally, Edward Gibson, 1st Baron Ashbourne, then Lord Chancellor of Ireland.
The loan will be repaid for 48 years and the interest rate will be set at 4% per annum. This makes loan payments affordable, and more people can benefit from the Act as they can now buy their own land. It strengthens the original Irish Land Story because they have allowed tenants to buy land in limited circumstances. The Ashbourne Act officially grants this right to the tenants and funds the Land Commission
It has been argued that the Act was passed to win the support of Charles Stewart Parnell. Salisbury knew that his rule would not last long because the Liberal Party had an overall majority. Salisbury realized that he would need the support of the Irish Party to retain power. Therefore, Ashbourne's action is a way to win Parnell while keeping William Ewart Gladstone in the backbenches. This failed, when Gladstone entered the government shortly thereafter and introduced the Irish Government Bill 1886; which however failed.
The Ashbourne Act was extended in 1889. It increased the government's grant for loans with a further Ã, Â £ 5 million and became law in August 1891.
It is one of the Land Acquisition Act (Ireland).
Video Purchase of Land (Ireland) Act 1885
See also
- Irish Land Acts
Maps Purchase of Land (Ireland) Act 1885
References
Source of the article : Wikipedia
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