EIRE PUBLIC SERVICE
WARNING AGAINST DEBT.
[B\ CABLE —PEESS ASSN. —COPYRIGHT.,!
DUBLIN, August. 8.
Financial measures to establish control of public finance in Eire are recommended in the majority report of the Banking Commission set up in 1934.
The report declares that Eire is spending above its income, and warns the country against further increases in the outstanding debt. The report recommends: —• (1) That the Irish and English pounds be maintained at the existing parity. (2) That the existing Currency Commission become the central banking authority. (3) That there should be no increase in the existing deadweight debt —on the other hand, it should be reduced as soon as possible with reductions annually and strict, control imposed.
(4) That Government borrowing proposals should be closely examined for possible monetary and financial reactions.
(5) That, regular consultations should he held between the Government and the monetary authority on the currency aspects of the Government’s policy.
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Greymouth Evening Star, 9 August 1938, Page 7
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154EIRE PUBLIC SERVICE Greymouth Evening Star, 9 August 1938, Page 7
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