The public debt of the Irish Free State

Abstract

It is intended in this paper to review certain salient facts in regard to the public debt of the Irish Free State. It will be understood that it would not be possible within the limits of time and space available to attempt an exhaustive examination of the subject and that accordingly the paper is strictly limited in its scope and does not purport to deal with several problems of much interest which tike subject presents. The term "public debt" is being taken to cover only transactions for which the Exchequer has accepted actual liability. The discussion will, therefore, not extend to the contingent liabilities of the Exchequer nor to the liabilities of any fund such as the Post Office Savings Bank Fund which is operated as an independent entity outside of the Exchequer. Neither is it intended to deal with the distinct but nevertheless important body of public debt contracted by Municipal and other Local Authorities.