§ MR. FLYNN
I beg to ask the Chancellor of the Exchequer whether he is aware that the authorised circulation of bank notes by the Bank of Ireland is £3,738,000, whereas the actual amount of notes issued is only £2,709,000; that the corresponding figures in regard to the Provincial Bank are, authorised circulation £927,000, actual amount of notes issued £816,000; and of the National Bank, authorised circulation £852,000, actual amount of notes issued £1,572,000; and whether, if the above figures be correct, the Treasury will cause inquiry to be made with a view to equalise the advantages possessed by banks of issue, and of giving to non-issue banks of approved solvency and position the right to issue notes subject to specified Treasury regulations?
§ MR. GOSCHEN
I have no doubt that the figures cited by the hon. Member are correct; but, as I stated the other day, I am not prepared, certainly as at present advised, to extend the right to issue notes to the Irish banks who have not that right at present. The situation is the same in England—there are many banks who do not issue up to their authorised amount.