Aberystwyth and Tregaron Bank
Encyclopedia
The bank
officially known as the Aberystwith and Tregaron Bank was established at Aberystwyth
, Ceredigion
in the beginning of the 19th century and was locally known as ‘Banc y Ddafad Ddu’, because the bank notes were imprinted with an engraving of a black sheep. The Bank later established a branch at Tregaron
In the 1960s and 1970s the Bank's notes inspired a Mr Richard Williams to imitate them.
s, £1, £2 and up to £10. The number of sheep on the engraving
corresponded to the number of pounds represented by the bank note. The ten shilling note was decorated with an illustration of a small sheep.
The earliest note appears to have been issued on 1 October 1810 and bears the signature of William Davies on behalf of Evans, Jones, Davies & Co. A number of notes have been preserved signed either by John Evans or William Davies. The notes are all dated within the period 1810 to 1814.
Original Black Sheep bank notes are held by the British Museum, and Ceredigion Museum
. Llanidloes Museum holds original promissory notes issued by the Bank.
agents at that date were Veres, Smart, Baron & Co.
A memorial tablet to John Evans can be found at Llanbadarn Fawr
churchyard, near Aberystwyth.
The proprietor of the Gold Shop in Tregaron obtained an original Black Sheep bank note after a 15 year wait. The bank note was found in the papers of a Carmarthen solicitor.
In 1815 it went into liquidation. Aberystwyth Old Bank. Messrs Jones, Davies and Williams beg to inform the public that the dissolution of their form has taken place by mutual consent, and they will feel obliged by the holders of their local notes sending them for payment to their Banking house, at Aberystwyith and those made payable in London to the House of Sir James Esdaile and Co. Aberystwyth Old bank, August 10, 1815.
Debts were still due to the bank in 1820. Aberystwith and Tregaron Bank. Evans, Jones and Davies Bankruptcy (public notice). Any debts to the above to be paid by 1 November 1820 to William Leyburn of Aberystwyth or Thomas Jones, ropemaker.
A number of notes bear a memorandum
stamped across the face of the note stating that they had been exhibited before G. Bonsall under a commission of bankruptcy
against the firm, and that a first dividend of 6s. 8d. in the £ had been paid. The memorandum does not bear a date, but it appears that no other dividend was received by the owners of the notes.
issued paper money which bore a 2p Duty Stamp, which Richard Williams paid for. This meant the notes were “officially” recognised.
Initial issues were made by the “Chief Treasury of Wales Ltd”, and this appears to have been overlooked initially by the Stamp Office, as the notes were written in Welsh
. It is unlikely that the notes would have been officially stamped if this had been recognised.
Later issues were by the “Black Sheep Company Ltd” and were inspired by the bank note issues of the Aberystwith & Tregaron Bank. Again, it seems that the Stamp Office was unaware of this historical precedent and the significance of the name. They duly officially stamped these issues also.
and Aberystwyth Provident Bank for Savings, both had branches on Bridge Street, Aberystwyth.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
officially known as the Aberystwith and Tregaron Bank was established at Aberystwyth
Aberystwyth
Aberystwyth is a historic market town, administrative centre and holiday resort within Ceredigion, Wales. Often colloquially known as Aber, it is located at the confluence of the rivers Ystwyth and Rheidol....
, Ceredigion
Ceredigion
Ceredigion is a county and former kingdom in mid-west Wales. As Cardiganshire , it was created in 1282, and was reconstituted as a county under that name in 1996, reverting to Ceredigion a day later...
in the beginning of the 19th century and was locally known as ‘Banc y Ddafad Ddu’, because the bank notes were imprinted with an engraving of a black sheep. The Bank later established a branch at Tregaron
Tregaron
Tregaron is a market town in the county of Ceredigion, Wales, lying on the River Brenig , a tributary of the River Teifi. The town is twinned with Plouvien, in Finistere, France. According to the 2001 Census, Tregaron's population was 1,183, of whom 68.8% spoke Welsh fluently.-History:Tregaron...
In the 1960s and 1970s the Bank's notes inspired a Mr Richard Williams to imitate them.
Bank notes
The notes were issued for ten shillingShilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
s, £1, £2 and up to £10. The number of sheep on the engraving
Engraving
Engraving is the practice of incising a design on to a hard, usually flat surface, by cutting grooves into it. The result may be a decorated object in itself, as when silver, gold, steel, or glass are engraved, or may provide an intaglio printing plate, of copper or another metal, for printing...
corresponded to the number of pounds represented by the bank note. The ten shilling note was decorated with an illustration of a small sheep.
The earliest note appears to have been issued on 1 October 1810 and bears the signature of William Davies on behalf of Evans, Jones, Davies & Co. A number of notes have been preserved signed either by John Evans or William Davies. The notes are all dated within the period 1810 to 1814.
Original Black Sheep bank notes are held by the British Museum, and Ceredigion Museum
Ceredigion Museum
- Location :Ceredigion Museum is located at The Coliseum, Terrace Road, Aberystwyth. It is managed by Ceredigion County Council. It is housed in a restored Edwardian Theatre.- History :...
. Llanidloes Museum holds original promissory notes issued by the Bank.
Members of the bank
The members of the bank were John Evans of Penygraig, Aberystwyth, Joseph Jones and William Davies, and their LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
agents at that date were Veres, Smart, Baron & Co.
A memorial tablet to John Evans can be found at Llanbadarn Fawr
Llanbadarn Fawr
Llanbadarn Fawr is an urbanised village and community in Ceredigion, Wales. It is located on the outskirts of Aberystwyth situated next to Penparcau and Southgate. It forms the eastern part of the continually built-up area of Aberystwyth...
churchyard, near Aberystwyth.
Tregaron branch
The bank opened a branch in Tregaron in 1810, as a result of the thriving local economy based on wool, droving, agriculture, and supporting businesses, such as blacksmiths and public houses.The proprietor of the Gold Shop in Tregaron obtained an original Black Sheep bank note after a 15 year wait. The bank note was found in the papers of a Carmarthen solicitor.
Liquidation
The bank was in trouble by 1811 as an advert in the Carmarthen Journal recorded: Evans, Jones, Davies and Co, Bankers of the Aberystwith and Tregaron Bank beg leave to inform the public that their bank has been open for business since its commencement and will continue so, notwithstanding an attempt lately made to injure it by inveterate enemies.In 1815 it went into liquidation. Aberystwyth Old Bank. Messrs Jones, Davies and Williams beg to inform the public that the dissolution of their form has taken place by mutual consent, and they will feel obliged by the holders of their local notes sending them for payment to their Banking house, at Aberystwyith and those made payable in London to the House of Sir James Esdaile and Co. Aberystwyth Old bank, August 10, 1815.
Debts were still due to the bank in 1820. Aberystwith and Tregaron Bank. Evans, Jones and Davies Bankruptcy (public notice). Any debts to the above to be paid by 1 November 1820 to William Leyburn of Aberystwyth or Thomas Jones, ropemaker.
A number of notes bear a memorandum
Memorandum
A memorandum is from the Latin verbal phrase memorandum est, the gerundive form of the verb memoro, "to mention, call to mind, recount, relate", which means "It must be remembered ..."...
stamped across the face of the note stating that they had been exhibited before G. Bonsall under a commission of bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
against the firm, and that a first dividend of 6s. 8d. in the £ had been paid. The memorandum does not bear a date, but it appears that no other dividend was received by the owners of the notes.
Imitation
During the late 1960s and early 1970s Richard Williams of LlandudnoLlandudno
Llandudno is a seaside resort and town in Conwy County Borough, Wales. In the 2001 UK census it had a population of 20,090 including that of Penrhyn Bay and Penrhynside, which are within the Llandudno Community...
issued paper money which bore a 2p Duty Stamp, which Richard Williams paid for. This meant the notes were “officially” recognised.
Initial issues were made by the “Chief Treasury of Wales Ltd”, and this appears to have been overlooked initially by the Stamp Office, as the notes were written in Welsh
Welsh language
Welsh is a member of the Brythonic branch of the Celtic languages spoken natively in Wales, by some along the Welsh border in England, and in Y Wladfa...
. It is unlikely that the notes would have been officially stamped if this had been recognised.
Later issues were by the “Black Sheep Company Ltd” and were inspired by the bank note issues of the Aberystwith & Tregaron Bank. Again, it seems that the Stamp Office was unaware of this historical precedent and the significance of the name. They duly officially stamped these issues also.
Other Aberystwyth banks
Other Aberystwyth banks include Bank Y LlongBank Y Llong
Bank y Llong got its name from an engraving of a ship decorating its bank notes...
and Aberystwyth Provident Bank for Savings, both had branches on Bridge Street, Aberystwyth.
External links
- Gathering the Jewels, The Web Site for Welsh Heritage and Culture
- Ceredigion County Council, Museum Collection
- Archives Wales, National Library of Wales, Glan Paith Papers
- World Time Lines, The Drovers' Roads
- Money and Coins in Wales
- Banknotes4u
- Llanbadarn Churchyard, near Aberystwyth
- Visit Mid Wales
- New Statesman, Local Currency, by William Cook, 19 November 2001
- Aberystwyth Guide