Thomas Roche & Co. Limerick Bank 1801-1825

Banknotes issued by Irish Private Banks ca1700–ca1833
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DOC
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Thomas Roche & Co. Limerick Bank 1801-1825

Post by DOC » 01 Mar 2020 10:46

Thomas Roche and William Roche founded a bank in Limerick in 1801 which became known as Roches’ Limerick Bank. They were brothers of Stephen and James Roche who founded a bank in Cork the previous year. The Cork and Limerick Banks operated as separate businesses.

Roches’ Limerick Bank operated successfully for many years, surviving the great crisis of 1820. It gradually wound down its business during the 1820’s and was taken over by The Provincial Bank in 1825. Thomas Roche became a Local Director of the Limerick Branch of the new joint stock bank after the takeover.

Here is an example of a 6 Shillings, ‘Silver Note’, issued by Roches’ Limerick Bank in 1802.
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Thomas Roche & Co. Limerick Bank 6 Shillings 12th Nov. 1802.jpg
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Mac
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Re: Thomas Roche & Co. Limerick Bank 1801-1825

Post by Mac » 02 Mar 2020 17:28

Interesting, the non-connection between the two Roches' banks.

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Re: Thomas Roche & Co. Limerick Bank 1801-1825

Post by DOC » 02 Mar 2020 20:34

Maintaining the two banks as legally separate entities proved to be a wise decision when the Cork-based Roches' Bank collapsed in the 1820 Crisis. However, I suspect that in practice there was close cooperation between the two banks.

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Re: Thomas Roche & Co. Limerick Bank 1801-1825

Post by ThePloughman » 03 Mar 2020 00:15

Did they share any common design for their paper money issues, same watermark for example?
The designs of the bills are completely different between the two banks, of the ones I have seen.

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Re: Thomas Roche & Co. Limerick Bank 1801-1825

Post by DOC » 04 Mar 2020 19:35

It appears that the designs of the two banks are completely different in line with your observation. One common feature is the family coat of arms which appears on some of the early notes and a similar style of watermark with the city of issue prominent.

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Re: Thomas Roche & Co. Limerick Bank 1801-1825

Post by DOC » 21 Mar 2020 19:54

Here is an interesting link giving some background on one of the partners, William Roche. He was politically well connected and a good friend of Daniel O’Connell. The reference to the hanging gardens at the rear of the bank built at a cost of £15,000 (€600,000 in today’s terms) suggests that the partners were well financed.

http://limerickslife.com/william-roche/

An example of a ‘Silver note’ for 9 Shillings issued in 1804 is shown. The rest of the date is illegible. A notable feature is the prominent ‘Limerick’ watermark.
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Thomas Roche & Co. Limerick Bank 9 Shillings 1804.jpg
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