If Dáil Éireann was to put flesh on the bones of its ambitious plan to achieve independence in the face of hostility from the British government then it was clear that it would have to raise, and spend, a lot of money.
It was also clear that any fund-raising efforts would be subject to particularly determined opposition from Dublin Castle and Westminster.
Both of the principal strands of the civil campaign in support of the Republic – an appeal to the Versailles peace conference and the development of an underground counter state – were inevitably going to be very expensive. Furthermore, success on either front, especially the second, would give rise over time to demands for still greater outlays. Regarding the financing of the military aspect of the campaign, during the second meeting of the Dáil, on 22 January 1919, a Minister for National Defence, Richard Mulcahy, was nominated and approved as an integral member of the first Ministry. This was an unambiguous signal that part of the money raised by the Dáil would be directed towards military ends.