Mark Lynch & Co. Galway Bank C.1805-1814

Banknotes issued by Irish Private Banks ca1700–ca1833
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DOC
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Mark Lynch & Co. Galway Bank C.1805-1814

Post by DOC » 28 Jan 2019 20:19

Mark Lynch, originally in partnership with Walter Joyce, set up his own bank which he also named Galway Bank. The year in which the bank was founded is unclear but the presence of his name on the notes of Walter Joyce in 1804 and absence in 1807 suggests that he set up his bank in either 1805 or 1806. It is interesting to note that 3 banks operated at the same time under the name ‘Galway Bank’ in the early 1800’s: Walter Joyce & Co., John Joyce & Co., Mark Lynch & Co.

Attached is a 1½ Guinea note issued on the 1st July 1813 by Mark Lynch & Co. The zero of the year is overwritten by a 1 and indicates that the note was originally printed prior to 1810. The Bank probably ceased in 1814 caught up in the turmoil surrounding the collapse of Ffrench’s Bank.
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Galway Bank Lynch & Co. 1 Guinea & Half 1st July 1813.jpg
Galway Bank Lynch & Co. 1 Guinea & Half 1st July 1813.jpg (65.21 KiB) Viewed 714 times

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Mac
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Re: Mark Lynch & Co. Galway Bank C.1805-1814

Post by Mac » 28 Jan 2019 20:22

That's a nice attractive note design, and a good example of the type.

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ThePloughman
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Re: Mark Lynch & Co. Galway Bank C.1805-1814

Post by ThePloughman » 30 Jan 2019 00:15

DOC wrote:
28 Jan 2019 20:19
It is interesting to note that 3 banks operated at the same time under the name ‘Galway Bank’ in the early 1800’s: Walter Joyce & Co., John Joyce & Co., Mark Lynch & Co.
I guess the banks traded as their partners names rather than as 'Bank of' place names. Still, I wonder if it was confusing sometimes for the customers especially if there was a run on one of the 'Galway' or 'Cork' banks, which one to take your money out of!

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Re: Mark Lynch & Co. Galway Bank C.1805-1814

Post by DOC » 03 Feb 2019 15:06

This may explain why Ffrench’s Bank although having an office in Galway, do not appear to have issued Galway Bank notes but used the name Tuam Bank instead.

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