HC Deb 16 February 1891 vol 350 cc682-3
MR. FLYNN (Cork, N.)

I beg to ask the Chancellor of the Exchequer whether, in view of the contemplated alteration of note issues in England, he will consider the question of note issues in Ireland, and endeavour to remedy the inequalities which prevail there between the banks by extending the issuing power of those banks of issue whose business has outgrown the limit of their original authorisation; and whether he will confer upon those banks of non-issue such powers of issue as their capital and reserve would warrant?


In reply to the question of the hon. Gentleman, I do not propose to take in hand the question of note issues in Ireland; but I am bound, in frankness, to add that I do not think that I should in any case be disposed to increase the issuing power of the existing banks of issue, or to confer powers of issue on non-issuing banks, unless, indeed, the whole system of these note-issues by private banks were re-cast and placed under new conditions.


May I ask whether the right hon. Gentleman is aware that the National Bank of Ireland and the northern banks issue twice the amount they are authorised to issue, while the bank of Ireland issues more than one million pounds less?


I am prepared to receive any information on the subject; but I must repeat that I am against the principle of extending the issuing powers of private banks except under new conditions.