Irish Private Banks - Early Financial Instruments

Banknotes issued by Irish Private Banks ca1700–ca1833
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DOC
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Irish Private Banks - Early Financial Instruments

Post by DOC »

This posting string relates to financial instuments, including banknotes, of the early Irish bankers operating prior to 1800. Few items survive and it is hoped that new material will come to light to provide more information about the early Irish banks.

Modern banking in Ireland originated in the late 17th century with the formation of private banks by merchants and goldsmiths, principly in Dublin but also in Cork. These banks implemented many of the innovations of the London goldsmith-bankers, issuing notes payable to the bearer on demand and allowing depositors to direct payments against their deposits.

Here is an example of a drawn or ‘pray pay’ note for £28 1s 4d, drawn in Dublin in 1713 in favour of James Swift upon the London goldsmith-banker Francis Child at 3 days sight. The signature of the person who drafted the note is unclear. This is one of the earliest known surviving financial instruments with an Ireland association.
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Drawn or Pray Pay Note 28 Pounds 1s 4d 14th May 1713.JPG
Drawn or Pray Pay Note 28 Pounds 1s 4d 14th May 1713.JPG (104.4 KiB) Viewed 87 times
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Re: Irish Private Banks - Early Financial Instruments

Post by callahiljo »

Doc, do you know where this item is now to be found? I used the scan in both editions of PMI having obtained it from Bob Blake, Unfortunately he is no longer around to tell me where he got it from. Maybe the original item is in the National Museum but in fact I have only ever seen the scan.
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Re: Irish Private Banks - Early Financial Instruments

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callahiljo wrote: 22 Jan 2023 15:44 Doc, do you know where this item is now to be found? I used the scan in both editions of PMI having obtained it from Bob Blake, Unfortunately he is no longer around to tell me where he got it from. Maybe the original item is in the National Museum but in fact I have only ever seen the scan.
Callahiljo, I do not know where this item currently resides. It was sold at DNW in 2009, so it is most likely in the possession of a collector. It would be very interesting to see the endorsements on the back as the item may have passed through some hands in Dublin before presentation in London. Hopefully, one of the Forum members can provide some additional information !
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Re: Irish Private Banks - Early Financial Instruments

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Here is another example of a ‘pray pay’ note similar in format to the 1713 example posted previously. This example for £34 11s 11d was drawn by Ross Mahon of Castlegar, Galway, in 1746 upon the Dublin bankers, Thomas Dillon & Co., in favour of Theodore Glover or order at thirty one days sight. The bill was received by Thomas Dillon & Co. on July 7th and annotated as such.
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Pray Pray Note 34 Pounds 11s 11d 3rd Feb. 1746 Galway Upon Thomas  Dillon & Co..jpg
Pray Pray Note 34 Pounds 11s 11d 3rd Feb. 1746 Galway Upon Thomas Dillon & Co..jpg (168.57 KiB) Viewed 24 times
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