lishments
was extreme. By the act forming the Bank of Ireland it was enacted that no
company or society exceeding six in number, except the Bank of Ireland,
should borrow or take up money on their bills or notes payable on demand.
In the year 1821 the act was so far modified as to permit the establishment
of banking companies exceeding six in number at a distance of 50 m. from
Dublin. In 1824, in consequence of the ambiguity of that act, an act had to
be passed to explain it. It was not till 1845 that the restriction as to
the 50-m. limit was withdrawn.

The establishment of any other bank but the Bank of Ireland was for a long
time hindered by the legislation on the subject. Some of the restrictions
were so extraordinary that it will be interesting to refer to three of the
more important acts.

1741, 15 Geo. II.--Partnerships authorized for the purpose of trade and
manufacture; but such partnerships were not to exceed nine in number, nor
was the capital stock of such co-partnership to exceed, at any time, the
sum of L10,000.

1780-1781, 21 and 22 Geo. III.--"Anonymous Partnership Act,"--limited
liability not to exceed L50,000, but "business of banking or discounters of
money" expressly excluded.

1759, 33 Geo. II.--By this act a person while he continued a banker could
not make a marriage settlement on a son or daughter, a grandson or
granddaughter, so as to be good against his creditors, though for a
valuable consideration, and though such creditors were not creditors at the
time the grant was made. This act gave power to creditors over all
conveyances by bankers affecting real estates; and all dispositions after
the 10th of May 1760 by bankers of real or leasehold interest therein to or
for children were made void as against creditors, though for valuable
consideration and though not creditors at the time. No banker to issue
notes or receipts bearing interest after the 10th of May 1760. Some of
these enactments appear to be in force at the present day; suggestions have
been made, though apparently unsuccessfully, for their repeal.

So extraordinary were the views of the common people that a banker in
Dublin of the name of Beresford having made himself very unpopular, a
"large assemblage of ignorant country people having previously collected a
quantity of Beresford's notes, publicly burnt them, crying out with
enthusiasm while the promises to pay on demand were consuming, 'What will
he do now; his bank will surel