IRISH FREE STATE FINANCE
.CAVING CERTIFICATES UNPRECEDENTED DEMAND DUPLIN", Feb. 21. So great .is the demand for Irish Free State .savings certificates that within the past few days supplies of application tonus at post "offices and banks have been exhausted. The situation is unprecedented. The present cost of a single certificate is Its. od. The sum thus invested „s repayable ub the rale of £1 6s at the end of 10 years. Not long ago the increased demand for the certificates attracted the attention of the Free Mate Ministry of Finance, and it was I'eil that, in the interest of the State, tl.e porcnaFe price of the certificates should be increased from 15s 6d to 16s. Investors had been purchasing large blocks at» such a rate that the authorities became alarmed. News of the intended increase got abroad, with the' result that a determined run was made on the certificates. People with money to invest bought them up in blocks' of £SOO at £387 a block —a profitable and secure investment as opposed to the uncertainty of industrial undertakings in the present state of markets. The result has been the complete exhaustion of the printed application forms. The Finance Minister has now ordered the suspension of the sales of the certificates, pending the issue of a new series in a few weeks.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17436, 7 April 1931, Page 7
Word Count
222IRISH FREE STATE FINANCE Poverty Bay Herald, Volume LV, Issue 17436, 7 April 1931, Page 7
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