§ MR. DEASY (Mayo, W.)I beg to ask the Chancellor of the Exchequer whether, in view of the fact that the Bank of Ireland, with an authorised issue of £3,738,428, has an actual issuer of not more than £2,700,000, or £1,000,000 under its powers, and that some other Irish banks have an actual, issue of notes largely in excess of their authorised issues, and other Irish banks again are prohibited by the condition of1 the law from having any issue, the Government will take any measure to so adjust the issues as to give banks which are in excess of their authorised issue further facilities in that direction should their capital and resources warrant it, and to confer upon banks of non-issue, which at present labour under serious disabilities, such issuing powers as their respective business and resources entitle them to?
§ *MR. GOSCHENThe question of the hon. Member raises very broad points of policy, amongst them that as to the propriety of conferring new powers of issue on banks which are at present non-issuing. The question of the extension of private issue is one of very great importance and delicacy. Any action, such as is suggested in the question of the hon. Member, would require legislation, and1 such legislation is clearly not possible at present. I have been anxious to deal with the whole subject of the paper currency, but it would require time and a clear course to carry any large measure of reform.
§ MR. SEXTONIs there any objection to a regular inquiry with a view to legislation?
§ *MR. GOSCHENI am conversant with the general facts of the case, and I do not think that an inquiry would be of much advantage.