The 1970 bank strike.

davidcameron

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The following article was written by Donal Buckley and published on independent.ie on 29 December 1999.

https://archive.is/20120802230107/http://www.independent.ie/business/how-sixmonth-bank-strike-rocked-the-nation-388755.html

Was the six-month bank strike of 1970 worth it? The following is the economist Michael Fogarty's colourful answer to that question:

The mountain has laboured and out has come this ridiculous mouse; a plump well fed mouse if you like, a pleasure for a bank official to have around the house; but still a mouse of very much the same size and shape as all the other mice generated with far less fuss and bother in a range of other occupations, public and private, which did not need a five-and-a-half months stoppage to do it.
Banks are respectable middle- or upper-class institutions. Doesn't that mean that junior bank officials received salaries that were better than those of junior civil servants?
 


gleeful

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The bank strike resulted in one bank worker named Christy Moore seeking alternative employment. Guess it was worth it.
 

PeaceGoalie

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The bank strike resulted in one bank worker named Christy Moore seeking alternative employment. Guess it was worth it.
You beat me to it. Stop stealing my ideas. Moore comes from a staunch Fine Gael background.
 

ergo2

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I recall the 1970 bank strike.

Some businesses used Post Office accounts or opened Credit Union accounts.

Pubs and other businesses cashed cheques.

Some striking bank officials set up private Foreign Exchange offices in tourist areas.

Good records had to be kept of cheques issued and cashed.

Banks were not in the property business at the time


Life went on. Took some time to sort out all balances when it ended.

Some businesses had difficulties when all the chickens came home to roost.

Bank officials had a very high status in those days. The strike did not add to that.

There had been a previous strike, but I cannot recall the details of that one
 
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devoutcapitalist

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What sort of settlement was agreed to bring the strike to an end? Some bank officials emigrated to England while the strike was going on.
 

Catalpast

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Vaguely remember it

Very few ordinary Joes had a BA in those days

- most people got paid in cash at the end of a weeks work....

A Bank Strike today would bring the Country to a standstill.
 

devoutcapitalist

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Vaguely remember it

Very few ordinary Joes had a BA in those days

- most people got paid in cash at the end of a weeks work....

A Bank Strike today would bring the Country to a standstill.
The banks these days are moving towards self service with the bank teller increasingly becoming an endangered specie.
 
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I knew the guy in ESB who was made responsible for cash coming in and going out in the form of wages and other disbursements. He was out by two Pence when the final accounting was done. He was bitter about that for many years.
 

Lumpy Talbot

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No
Two pence is a bugger. Mind you it is the 999,999.98 on the other side of the ledger you'd want to worry about.
 

davidcameron

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I recall the 1970 bank strike.

Some businesses used Post Office accounts or opened Credit Union accounts.

Pubs and other businesses cashed cheques.

Some striking bank officials set up private Foreign Exchange offices in tourist areas.

Good records had to be kept of cheques issued and cashed.

Banks were not in the property business at the time


Life went on. Took some time to sort out all balances when it ended.

Some businesses had difficulties when all the chickens came home to roost.

Bank officials had a very high status in those days. The strike did not add to that.

There had been a previous strike, but I cannot recall the details of that one
The previous strike was in the summer of 1966 - it was half the length of the 1970 one.

https://en.wikipedia.org/wiki/Irish_bank_strikes_(1966–76)
 

davidcameron

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Vaguely remember it

Very few ordinary Joes had a BA in those days

- most people got paid in cash at the end of a weeks work....

A Bank Strike today would bring the Country to a standstill.
Wouldn't a strike at all domestic banks in the country at the same time (American and merchant banks in Ireland remained open during the 1970 strike) a breach of EU competition law on the grounds that it would be a trade union-created cartel?
 

cricket

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Family folklore tells of a relative who was getting a house built around that time. Builder accepted cheque for deposit, but there were no funds to support it. Relative worked as a postman and worked right around the clock, lots of overtime then, earning enough to have the cheque cleared by the time the strike was settled.
I can just about remember another bank strike sometime in the mid to late 70's. Can't recall how long it lasted, but I think credit unions were highly involved in helping cash flow for small businesses.
 
D

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The bank strike resulted in one bank worker named Christy Moore seeking alternative employment. Guess it was worth it.
Are you sure it wasn't an earlier bank strike in the mid 60's. I think Christy was on the English folk circuit by late 60s.
 

gatsbygirl20

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Getting a job in The Bank was the height of ambition, back in the day. Unlike the civil service, it was rumoured that you had to have "pull" to get a job in the bank.

I shared a house with some bank officials once while subbing as a teacher in a small town. They had an incredible loyalty to their employer and great honesty and probity.

On the day when the Mart was held in the town the bank would be crazily busy.

If one of the bank officials was out by a small amount--a fiver, say--in her account, she would stay back at work until all hours to sort out the problem and balance the books. This was done voluntarily and with no pressure from bosses.
 

devoutcapitalist

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Getting a job in The Bank was the height of ambition, back in the day. Unlike the civil service, it was rumoured that you had to have "pull" to get a job in the bank.

I shared a house with some bank officials once while subbing as a teacher in a small town. They had an incredible loyalty to their employer and great honesty and probity.

On the day when the Mart was held in the town the bank would be crazily busy.

If one of the bank officials was out by a small amount--a fiver, say--in her account, she would stay back at work until all hours to sort out the problem and balance the books. This was done voluntarily and with no pressure from bosses.
I think the banks facilitated widespread tax evasion in the 70's. It was a more naive era then, my Auntie worked briefly in one of the banks in the mid to late 60's, can't remember which one but she remembers there was a certain amount of integrity at the upper levels, she reckoned that was the case because at Management level a majority where Protestant.
 


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