108 ON THE STATE OF IRELAND. [BOOK I, 



REMARKS. 



Capital is derived from two different sources : 

 the most abundant is that of the public banks. 

 Their institution was unknown to antiquity, and we 

 owe it to the Hanseatic towns, from Hamburgh to 

 Dunkirk, which in the middle ages commenced ex- 

 changes with Genoa and Venice. All the govern- 

 ments of Europe have since that period succes- 

 sively availed themselves of this powerful auxiliary, 

 of which the following investigations will give a 

 complete analysis. 



The second source of capital has been known 

 from the earliest times that of private individuals, 

 whose savings are converted into money, which 

 they lend at a greater or less interest, and with 

 greater or less security. 



From this source, agriculture in Ireland, consti- 

 tuted as it is, can derive no advantage. No person 

 will lend money to a man who holds the preca- 

 rious tenure of a farm of five acres, or even of one 

 acre ; or if he does, it is always at an exorbitant 

 interest, proportioned to the risk which he runs for 

 the money lent. This system is condemned by re- 

 ligion, and it is needless to comment on it. 



Those who possess or cultivate the soil of Ire- 

 land, divided and subdivided as it is, are for the 



