asked the Minister for Finance what was the quantity of the total money supply quarterly in each of the last ten years; and whether it is within the power of the Central Bank to control the quantity of the total money supply within this country.
Written Answers. - Money Supply.
180.
As the reply to the first part of the question is in the form of a tabular statement, I propose with your permission, a Cheann Comhairle, to circulate it with the Official Report.
As regards the second part of the question, the Central Bank's statutory powers of control in relation to the supply of money are limited. In practice, it influences the money supply mainly by the issue of guidelines to the banks on the level of credit.
Following is the statement:—
MONEY SUPPLY
|
Unadjusted |
Adjusted |
||||
|
Currency outstanding |
Current accounts |
Currency outstanding |
Current accounts |
Total |
|
|
(a) |
(b) |
(c) |
(d) |
||
|
1959 |
£ million |
||||
|
March Qr. |
79.0 |
114.1 |
72.7 |
109.5 |
182.2 |
|
June Qr. |
78.2 |
113.7 |
71.6 |
109.1 |
180.7 |
|
September Qr. |
77.0 |
113.5 |
70.4 |
109.1 |
179.5 |
|
December Qr. |
78.7 |
124.1 |
72.1 |
118.7 |
190.9 |
|
1960 |
|||||
|
March Qr. |
78.8 |
121.9 |
72.4 |
117.6 |
190.0 |
|
June Qr. |
78.9 |
127.1 |
72.3 |
121.5 |
193.7 |
|
September Qr. |
79.7 |
125.1 |
72.8 |
120.3 |
193.1 |
|
December Qr. |
82.7 |
133.0 |
75.7 |
127.6 |
203.3 |
|
1961 |
|||||
|
March Qr. |
82.9 |
127.4 |
76.1 |
122.5 |
198.6 |
|
June Qr. |
83.7 |
133.6 |
77.1 |
128.4 |
205.5 |
|
September Qr. |
84.3 |
133.3 |
77.1 |
128.6 |
205.8 |
|
December Qr. |
88.2 |
145.9 |
80.9 |
139.6 |
220.5 |
|
1962 |
|||||
|
March Qr. |
89.0 |
138.9 |
81.6 |
134.2 |
215.8 |
|
June Qr. |
89.2 |
140.6 |
82.0 |
135.6 |
217.6 |
|
September Qr. |
90.3 |
144.7 |
82.3 |
140.1 |
222.4 |
|
December Qr. |
93.3 |
159.6 |
85.0 |
153.3 |
238.3 |
|
1963 |
|||||
|
March Qr. |
93.5 |
151.5 |
85.6 |
146.7 |
232.3 |
|
June Qr. |
95.2 |
158.0 |
87.6 |
152.1 |
239.7 |
|
September Qr. |
98.0 |
164.7 |
89.5 |
159.8 |
249.3 |
|
December Qr. |
100.9 |
174.5 |
92.0 |
167.8 |
259.8 |
|
1964 |
|||||
|
March Qr. |
102.7 |
181.4 |
94.2 |
174.2 |
268.4 |
|
June Qr. |
105.4 |
180.1 |
96.9 |
173.4 |
270.3 |
|
September Qr. |
108.9 |
186.7 |
99.4 |
180.5 |
280.0 |
|
December Qr. |
113.4 |
197.5 |
104.3 |
189.6 |
293.8 |
|
1965 |
|||||
|
March Qr. |
112.8 |
187.6 |
103.7 |
181.3 |
285.0 |
|
June Qr. |
112.7 |
194.6 |
103.2 |
186.4 |
289.6 |
|
September Qr. |
113.9 |
196.7 |
104.1 |
189.8 |
293.9 |
|
December Qr. |
115.8 |
205.3 |
106.4 |
196.4 |
302.8 |
|
1966 |
|||||
|
March Qr. |
116.0 |
201.9 |
106.5 |
194.5 |
300.9 |
|
April (e) |
117.9 |
208.7 |
107.5 |
201.0 |
308.5 |
|
December Qr. |
122.7 |
228.3 |
112.1 |
217.8 |
330.0 |
|
1967 |
|||||
|
March Qr. |
122.0 |
217.4 |
112.5 |
205.8 |
318.3 |
|
June Qr. |
121.8 |
217.7 |
113.5 |
204.8 |
318.3 |
|
September Qr. |
125.0 |
232.5 |
116.2 |
217.3 |
333.5 |
|
December Qr. |
129.6 |
243.5 |
119.9 |
228.4 |
348.3 |
|
1968 |
|||||
|
March Qr. |
129.2 |
243.9 |
120.3 |
226.1 |
346.3 |
|
June Qr. |
130.8 |
239.6 |
121.6 |
220.6 |
342.2 |
|
September Qr. |
134.6 |
255.9 |
124.2 |
236.7 |
360.9 |
(a)Total circulation of Irish notes and coin; average of Saturday figures.
(b)Total credit balances on current accounts at Associated Bank offices within the State; Average of monthly figures.
(c)Adjusted for estimated holdings by Associated Banks of Irish notes and coin.
(d)Adjusted for uncleared cheques.
(e)Quarterly figures not available owing to bank strike. Data are for the month of April only.