Extract from a summary of the November 1947 British-Irish Trade talks held in London
(Secret)

4. Ireland's dollar requirements
It was agreed that the Irish Government, with a view to conserving the dollar resources of the sterling area, would effect substantial reductions in their drawings of dollars from the dollar pool for the period 1st October, 1947, to 30th June, 1948, bringing the net requirements to £14 million plus Irish dollar earnings. This sum would be further reduced in the event of non-dollar wheat being procurable instead of dollar wheat. Expenditure in other hard currencies will also be kept to a minimum during the period.

Expenditure in other currencies including expenditure on foreign travel will also be kept to a minimum during the period.¹