asked the Minister for Finance if he will state the approximate amount of British currency now in circulation in the Republic, and whether this amount has varied in recent years.
Ceisteanna—Questions. Oral Answers. - British Currency in Republic.
There is no estimate available of the amount of British currency at present in circulation in the State.
Following are particulars of the amount of Bank of England notes withdrawn from circulation through the Central Bank and the associated banks for each of the calendar years since 1950:—1950, £19.7 million; 1951, £23.7 million; 1952, £22.2 million; 1953, £20.4 million; 1954, £18.9 million; 1955, £20.6 million.
Over the period 1929 to 1950 £1,350,000 of British silver coin was withdrawn from circulation here pursuant to arrangements with the British Government for its redemption at face value. In the period 1951 to 1955, inclusive, a further £1,160,000 of British token coin has been repatriated by the banking system.
Would the Minister not agree that this could be a dangerous loophole and will he not pay more attention to our weakness — our control?
I do not think so.