asked the Minister for Finance if he has seen the statement in the Report of the Central Bank for 1953-54 (paragraph 5, page 9), that the outstanding amount of bank notes of the five former banks of issue on 31st March, 1954, was £832,879 of which, it was estimated, a substantial part represents "dead" notes; and, if so, if he will state whether he has any proposals under consideration for the utilisation of the assets transferred to the Central Bank in respect of these "dead" notes.
Ceisteanna—Questions. Oral Answers. - Outstanding Bank Notes.
Mr. Lemass
I have seen the statement to which the Deputy refers.
As regards the second part of his question, there has been no transfer of assets to the Central Bank in respect of "dead" notes. Application has not yet been made by any of the former banks of issue for sanction to write off such notes in accordance with Section 40 of the Central Bank Act, 1942.
Mr. Lemass
Does the Minister contemplate taking any action in the matter?
Not at the moment.