HC Deb 25 April 1805 vol 4 cc380-1
Mr. Lee

adverted to the present rules prescribed by law, for the issue of small bank notes in Ireland, by which it was enjoined, that no private banks should be allowed to issue notes under three guineas value in that country. The effect of such a measure must obviously be highly detrimental to trade in general. The farmer could not, on account of the scarcity of specie, sell a small quantity of corn there, to the amount of 20s. or 30s. unless he could, which was very rarely the case, give change for a 3-guinea note, and the same difficulty was felt in every other branch of dealing. This was not felt in England, or Scotland, where the private bankers can get small notes from the Bank of England; but the national Bank of Ireland was restrained, so as not to extend its issues. He saw no reason for this distinction in the case of Irish private banks, as they must always have in their possession national notes, in proportion to their own issues, and were therefore perfectly secure. He would leave it to any gent., conversant with business, to reflect on the extreme inconveniencies that must ensue ever here, if, while the restriction on the bank continues, there should be no smaller than 3 guinea notes in circulation. In Ireland, the measure had a most desireable tendency, as the tradesman there had seldom any other way of getting his note exchanged, but of repairing to the public house, and spending a great part of the money. He then moved for leave "to bring in a bill to regulate the issue of small promissory notes and bills in Ireland, which was agreed to." The hon. gent. next observed upon the great difficulties existing in the recovery of small debts in Ireland, where creditors were often obliged to travel from 30 or 40 miles, to the quarter sessions, at an expence perhaps superior to the amount of their respective debts. The principal object of the bill he should propose, would be to give magistrates the summary power of debts under 5l. He then moved for leave "to bring in a bill for the more expeditious recovering of small debts in Ireland;" which was granted.