asked the Minister for Finance if he will state (1) the total amount of deposits to the credit of the Post Office Savings Banks on the 1st April, 1929; (2) the amount invested in National Loan; (3) the amount invested in Dublin Corporation Stock; (4) the amount invested in British securities; and (5) whether he gives any preference to Saorstát securities when investing the moneys referred to.
Ceisteanna—Questions. Oral Answers. - Investment of Post Office Deposits.
The estimated amount of deposits to the credit of the Savings Bank at 1st April, 1929, was £3,160,000 of which £51,200 was invested in National Loan, £1,314,000 in other securities of the Government of Saorstát Eireann, and the balance in British Government securities (including about £275,000 in Stocks issued under the Irish Land Acts, 1891-1909). The investment in Dublin Corporation Stock of moneys of the Savings Bank is precluded by statute. With regard to the last part of the question, the primary considerations which determine the choice of securities for the investment of the Savings Bank Fund are the fact that the deposits are repayable on demand and the general suitability of the security.
Is it to be understood that no preference whatever is given to Free State securities in the investment of the money of the Savings Bank?
I think the Deputy had better put that question to the Minister for Finance.