Economic and financial section > Balances of payments > 1931-1932

118
IRISH FREE STATE
Capital items.
Items
£ (OOO’s)
Inward or credit capital
movement
1928
1929
1930
1931
Outward or debit capital
movement
1928
1929
1930
1931
I. Long-term operations.
1. Amortisation :
(a) of intergovernmental debts
(b) of other public debts . . .
2. Repurchase of national securities
3. New capital issues (Government
and municipal)
4. Receipts from the United King¬
dom in respect of British
Savings Bank withdrawal
warrants cashed in the Free
State
3,492
6f39
629
4,044
1,259
4,057
729
456
4,001
312
10
3,990
No totals are shown in the tables, as information is lacking concerning a number
of the “ invisible ” items of the balance.
Goods, services and gold.
Interest and dividends (item 3). The credit figures are based on returns made
by bankers to the Revenue Commissioners showing the dividend and interest warrants
of foreign securities cashed by them, on the interest on United Kingdom Government
securities inscribed at the Bank of Ireland, and on information regarding foreign
income included in income-tax returns.
The debit figure for 1931 is stated to comprise (i) the income derived by non¬
residents from capital invested in the country; (ii) trading profits arising in the Irish
Free State of foreign-controlled companies ; and (iii) interest on the portion of the
Second National Loan held in the United States of America. The estimate for the
first of these three groups was derived from British and Irish income-tax returns,
that for the second was conjectural and that for the third was obtained from official
sources (the 1929 and 1930 figures for this group were £71,132 and £43,752 respectively).
%
Funds taken out by emigrants. The amounts of such funds up to 1930 inclusive
are estimated by assuming that each of the emigrants (numbering 27,148 in 1927,
24,691 in 1928, 20,802 in 1929 and 15,966 in 1930) to non-European countries spent
approximately £30 (in 1930 £44) on passage and travelling.
^ The figure for 1931 is based on data supplied by the United States Commissioner-
General of Immigration and the United States Consulate-General at Dublin.
Emigrants' remittances. The estimates of remittances from emigrants abroad
(item 7, credit) up to 1930 inclusive are based mainly upon figures concerning the
receipts from the United States published by the United States Department of
Commerce. Account was also taken of the receipts through the Post Office from the
British Dominions, amounting to £65,000 and £61,000 respectively in 1929 and 1930.