Pursuant to some of these statutes, Her Majesty's Revenue and Customs publishes in the " Belfast Gazette " an account of " the Amount of Notes authorised by Law to be issued by the several Banks of Issue in Northern Ireland, and the Average Amount of Notes in Circulation, and of Bank of England Notes and Coin held "; see for example Issue 6800 published on 8 September 2006 at page 5874.
32.
The supporters of the'currency theory,'whose principles were adopted by Robert Peel and embodied in the Act of 1844, were represented by Samuel Jones Loyd, banks of issue, by the arbitrary extension of their circulation, could produce a direct effect on prices, and thus stimulate financial speculation; that convertibility on demand was not a sufficient safeguard; and that the only adequate remedy was to separate the business of issue from that of banking in such a way that the former should regulate itself automatically, and that the discretion of the directors should be confined to the latter.
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