John Sullivan, Notary, 1886

C'est en 1886 que les banques jersiaises firent défaut mettant fin aux opérations de pêche de la Compagnie Robin, en Gaspésie. À ce moment-là John Sullivan un notaire de Jersey écrivait l'article qui suit pour protester et offrir ses recommandations.  

When will Jersey profit by the lessons which are given her from time to time, by persons who call themselves bankers and have never studied that scientific and intricate business? During a century Jersey has been victimized by men who know no more about banking operations that they know about the system of banking in the Celestial empire.

Since the days of Pierson, some twenty men who call themselves Bankers caused panics in Jersey, which brougt wih them misery desolation and death.

We need not recall to mind the crisis of 1873, it is fresh to everyone's memory, in it we find an irrefutable proof of what we state above.

Bankers who understand their business thorougly, know that a bank is a receptacle for money to be always ready at the will or direction of depositors. True bankers abide religiously by this golden rule.

Jersey should have a law on banks and bankers.

At the Bank of England it is expressly prohibited from engaging in any commercial undertaking except such as a pure and legitimately connected with banking operations; such as buying and selling coin, bullion or bills of exchange.

Our Banks should be subjected to these rules. If the Mercantile, the Joint Stock, and the Jersey Banking Company had not meddled with railway, with shipbuilding and with fishing operations, they would be in a flourishing condition.

We urgently petitions our Satesmen to adop a law which will keep men from falling into temptations, and from driving their families to despair and destitution.

John Sullivan, 1886


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