Monarch

GEORGE III

Year

1793

Title

33 Geo. III, c. 52,

Description

An Act for the Advancement of Trade and Manufactures by granting the Sums therein mentioned for the Support of Commercial Credit.

Classification

Finance, 1793 trade slump - prominent Dublin citizens named Commissioners by Lord Lieutenant, loaned £200,000 at 5% interest from Bank of Ireland to make temporary loans to businessmen injured by recession (repaid at '6 pounds per centum per annum') and further credit up to £300,000 on Treasury bills at interest of 2 1/2d per day; stringent security - goods valued at double sum lent, Commissioners to provide warehouses for goods offered as security, principal and interest to be paid at the Treasury on appointed days; proceeds of goods sold and sums received from bankrupts credited to Treasury account in Bank of Ireland, counterfeiting Bank of Ireland notes - capital offence [t]