Boyle & Co. Dublin. 1833

Banknotes issued by Irish Private Banks ca1700–ca1833
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ThePloughman
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Boyle & Co. Dublin. 1833

Post by ThePloughman »

Here is a note from 15 March 1833. So quite late in the chronology of the Private banks.
I'm not sure where it fits in, can't find mention of it in any catalog
Looks like: Alexander Boyle, Francis Low, Leonard Bickerstaff & Son.

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DOC
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Re: Alexander's Dublin 1833

Post by DOC »

Interesting note and in nice condition too. Boyle & Co. was one of the last Private Banks operating in Ireland. The full list of partners is as follows: Alexander Boyle, Francis Low, James Pim, Leonard Bickerstaff and Jonathan Greenwood Pim. The note you posted appears to be the only known example from this Bank.
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Mac
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Re: Boyle & Co. Dublin. 1833

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Little is known about this bank, except that it issued notes in 1833, and that it was still in business in Dublin in 1849, according to the Dublin Almanac and General Register of Ireland. No information prior to 1833 is available.
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Re: Boyle & Co. Dublin. 1833

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Barrow’s Book, The Emergence of the Irish Banking System’, provides some information about Boyle & Co. It appears to be one of a small number of Private Banks formed in the 1830’s in Dublin, in this case 1832. These banks had to reinvent themselves in the presence of The Joint Stock Banks and for those that survived, note issue as part of their operations would have greatly diminished in significance over time.

Boyle & Co. continued for a considerable time with various partnership changes. Alexander Boyle continued as lead partner until about 1869. The business eventually ceased their operations as Boyle, Low, Murray & Co., stockbrokers, in 1946.

An interesting feature of the only known note from this bank is the presence of the partner names. In 1833, it would not have been a legal requirement for a private bank to list its partners. By way of contrast, Gibbons & Williams and Mallow Bank did not list partners on their notes at this time.
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callahiljo
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Boyle, Low & Co, Dublin

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This private bank did not feature in the 1st edition of Paper Money of Ireland due to a mistaken statement by G F Barrow in his otherwise excellent study "The Emergence of the Irish Banking System 1820-1845" that the firm, despite obtaining a full banking licence did not issue notes.

So when the note illustrated appeared on the market after publication it was a surprise and so far has been the only one to have been recorded for this partnership. The very low serial number suggests they did not issue many.

It would be of great interest to know if any more have been seen. And to know how long the firm, founded only in 1832, continued to issue its notes. The firm presumably decided to concentrate on its stockbroking activities while also acted as notaries and insurance agents (see 2nd edition of PMI).
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Re: Boyle & Co. Dublin. 1833

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Barrow’s book ‘The Emergence of the Irish Banking System 1820-1845’ is generally a very reliable source. His conclusion that this bank did not issue notes is probably based on ‘Minutes of Evidence before the Committee of the House of Commons’ where James Pim Jun. asserted in 1838 that the bank did not issue notes. He may have been referring to the issue of notes in 1838 or he may not have recalled the issue of notes in 1833 with the signature of his brother Jonathan G. Pim.

It seems that the banknote issue of this bank was tiny and the chances of another note emerging would appear to be low. There is a nice bank stamp on the note so perhaps stamp duty returns could provide more information as to the number of notes issued.
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callahiljo
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Re: Boyle & Co. Dublin. 1833

Post by callahiljo »

The revenue stamp incorporates an image of George IV who died in 1830 so it must have been use for some time after that - the year 1833 of the date is printed.
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Mac
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Re: Boyle & Co. Dublin. 1833

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DOC wrote: 20 Nov 2023 20:12 Barrow’s book ‘The Emergence of the Irish Banking System 1820-1845’ is generally a very reliable source. His conclusion that this bank did not issue notes is probably based on ‘Minutes of Evidence before the Committee of the House of Commons’ where James Pim Jun. asserted in 1838 that the bank did not issue notes. He may have been referring to the issue of notes in 1838 or he may not have recalled the issue of notes in 1833 with the signature of his brother Jonathan G. Pim.
I would say that he was referring to the issue of notes in 1838, which gives us a date by which they had ceased note issue.
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Re: Boyle & Co. Dublin. 1833

Post by callahiljo »

That makes sense. So max 4-5 years of issuance and the only survivor a £1 note, serial number 12. If anyone finds another do please post here!
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