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Foreign News
May 9, 1797
The New Hampshire Gazette
Portsmouth, Rockingham County, New Hampshire
What is this article about?
In Dublin on March 4, a shock to public credit caused widespread consternation as the revenue commissioners briefly refused Bank of Ireland notes for duty payments, halting business. The restriction was lifted later that day, and guinea notes were issued as circulating medium.
Clipping
OCR Quality
95%
Excellent
Full Text
Dublin, March 4.
The consternation which prevails from the late shock sustained by the public credit, is indescribable. All confidence in paper is gone; and business is at a complete stand.
For a considerable time on Thursday last the commissioners of the revenue refused to accept of notes of the Bank of Ireland from such merchants as tendered them in payment of the duties on their entries. The effects of this refusal may easily be conceived. It operated like an electric shock, and threw the whole metropolis into confusion.
Fortunately this prohibition was taken off in the course of the day—and the Bank of Ireland notes were allowed currency at the Custom-house.
As a circulating medium, guinea notes have been adopted by the Bank of Ireland, and a number of them have actually issued.
The consternation which prevails from the late shock sustained by the public credit, is indescribable. All confidence in paper is gone; and business is at a complete stand.
For a considerable time on Thursday last the commissioners of the revenue refused to accept of notes of the Bank of Ireland from such merchants as tendered them in payment of the duties on their entries. The effects of this refusal may easily be conceived. It operated like an electric shock, and threw the whole metropolis into confusion.
Fortunately this prohibition was taken off in the course of the day—and the Bank of Ireland notes were allowed currency at the Custom-house.
As a circulating medium, guinea notes have been adopted by the Bank of Ireland, and a number of them have actually issued.
What sub-type of article is it?
Economic
What keywords are associated?
Dublin Financial Crisis
Bank Of Ireland Notes
Public Credit Shock
Revenue Commissioners Refusal
Guinea Notes Issuance
Where did it happen?
Dublin
Foreign News Details
Primary Location
Dublin
Event Date
Thursday Last
Outcome
prohibition lifted; bank of ireland notes allowed at custom-house; guinea notes issued by bank of ireland.
Event Details
Commissioners of the revenue refused Bank of Ireland notes for duty payments, causing confusion and halting business in the metropolis. The refusal was rescinded later that day.