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Dáil Éireann díospóireacht -
Thursday, 29 May 1930

Vol. 35 No. 2

In Committee on Finance. - Vote 68—Remuneration for Cost of Management of Government Stocks of Saorstát Eireann.

I move:—

Go ndeontar suim ná raghaidh thar £125 chun slánuithe na suime is gá chun íoctha an Mhuirir a thiocfidh chun bheith iníoctha i rith na bliana dar críoch an 31adh lá de Mhárta, 1931, chun Luach Saothair ar chostas Bhainistí Stoc Rialtais is le Saorstát Eireann.

That a sum not exceeding £125 be granted to complete the sum necessary to defray the Charge which will come in course of payment during the year ending on the 31st day of March, 1931, for the Remuneration for cost of Management of Government Stocks of Saorstát Eireann.

The increase of £975 which is shown in this Vote is due to two things, first to the increase in the amount of Land Bonds outstanding and secondly to a transfer of a considerable quantity of second National Loan from New York to Dublin. The cost of management in America is very small, because the loan in America is in the form of bearer bonds with interest coupons attached, and is in very few denominations, the lowest being 500 dollars. The consequence is that no clerical work is involved in dealing with the loan in America. It is simply a matter of paying the amount of interest on the coupons as they are presented.

Vote put and agreed to.
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