Note 80 — Chapter V

The Committee of 1848 went very fully into the changes which were needed in Ireland, and many witnesses were asked what they would propose. For example (1579), Mr. W. Keating Clay was asked: Do you believe, in consequence of the Cuffe Street bank, the deposits will decrease in Dublin and neighbourhood if the law is not amended? and replied, I should say they will be altogether withdrawn. I don't think the other Savings Banks in Dublin, which have conducted their business faultlessly all through, can exist another year under the present law. Another witness, in answer to a similar question, said (1205): I am quite satisfied that the Savings Bank system in Ireland will crumble to dust unless there is legislation. A third witness said, nothing would do but trustees fully liable, and a system of Government inspection and regular audit of the accounts.