asked the Minister for Finance if he will state what was the significance of the immense rise in bank debits for April, 1958, as compared with previous years and with the preceding and succeeding months this year.
Ceisteanna—Questions. Oral Answers. - Rise in Bank Debits.
Bank debits have been rising steadily in recent years and the rise between April, 1957 and April, 1958 was not exceptional. Increased business activity, higher prices and payment of subscriptions to the E.S.B. loan were factors contributing to the rise. The Deputy will appreciate that as practically every transaction through a bank involves a number of consequential debits any increase in activity is magnified in the total of bank debits.
Bank debits in April are usually considerably larger than in either March or May and this year followed the normal seasonal pattern.
What figure has the Parliamentary Secretary got for the average daily bank deposits this year?
I do not think I have that.
Is the Parliamentary Secretary aware that in the economic series, No. 38, the bank deposits figure for April, 1958, is £16.44 million; that for March it was £9.1 million and for May £4.78 million? Is the Parliamentary Secretary further aware that none of these figures agrees with the daily figures included in the quarterly bulletin of the Central Bank, issued since I put down my question?
Perhaps the Deputy would check the averages he has given with the number of working days?
I do not see what difference that will make.