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'Profligacy in the encouragement of thrift': Savings banks in Ireland, 1817-1914

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  • Eoin McLaughlin

Abstract

This paper studies institutional changes in Irish savings banks and their functionality from 1817 to 1914. These changes saw market incumbents, trustee savings banks, suffering from a loss of confidence and displaced by a functionally equivalent but institutionally distinct competitor, the Post Office Savings Bank. The paper finds that, despite significant institutional change, savings banks of all types were consistently loss-making. This suggests that Irish savings banks were subsidised. In addition, despite contemporary accusations of credit shortages, Irish savings banks, due to legal restrictions, did not engage in any private sector lending, thus arguably crowding out private investment.

Suggested Citation

  • Eoin McLaughlin, 2014. "'Profligacy in the encouragement of thrift': Savings banks in Ireland, 1817-1914," Business History, Taylor & Francis Journals, vol. 56(4), pages 569-591, June.
    • Handle: RePEc:taf:bushst:v:56:y:2014:i:4:p:569-591
    DOI: 10.1080/00076791.2013.837887
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    Cited by:

    1. McLaughlin, Eoin & Foley-Fisher, Nathan, 2013. "Irish Land Bonds: 1891-1938," SIRE Discussion Papers 2013-109, Scottish Institute for Research in Economics (SIRE).
    2. Colvin, Christopher L. & Henderson, Stuart & Turner, John D., 2018. "The origins of the (cooperative) species: Raiffeisen banking in the Netherlands, 1898-1909," QUCEH Working Paper Series 2018-03, Queen's University Belfast, Queen's University Centre for Economic History.
    3. Colvin, Christopher L., 2015. "The past, present and future of banking history," QUCEH Working Paper Series 15-05, Queen's University Belfast, Queen's University Centre for Economic History.

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