asked the Minister for Finance how it came about that although the amount of legal tender notes outstanding increased from £77, 395, 249 in October, 1960, to £80, 541, 413 in December, 1960, the assets held against these notes (other than British Government securities) decreased from £18, 984, 096 to £18,600,547.
Ceisteanna — Questions. Oral Answers. - Legal Tender Notes.
The changes in the investments of the Legal Tender Note Fund to which the Deputy refers took place in the ordinary course of the administration of the Fund. I have no function in connection with the matter.
Is it not rather odd though?
One thing did strike me on looking at this; the Fund always goes up at the end of December.
Does the Minister not appreciate that the figure for the other assets showed a decrease notwithstanding the fact that legal tender notes outstanding showed an increase? The two normally march side by side. The fact that the two are going in different directions is what I cannot understand.