Sir, - The recent publicity surrounding the introduction of the new £100 note prompts the question as to why we need such a large denomination in the first place. In the old days of the cattle fairs, when all transactions were carried out in cash, one could understand the need.
For the life of me, I cannot understand why £100 - come to think of it, £50 notes are necessary in this day and age, when cash transactions generally should be discouraged for a variety of reasons. As I see it, the circulation of such large notes has little or no relevance in the context of the normal day to day transactions engaged in by the general public.
In the absence of any information to the contrary, I can only conclude that their function is to facilitate the operations of the black economy. If I am right, it is indeed ironic that such activities should be aided and abetted by the Department of Finance and the Central Bank. The views of the Revenue Commissioners would he interesting. Yours, etc.
Silchester Park, Glenageary,
Co Dublin