Bank Street, Greenock - Town Trail 3

Greenock Town Trail, Plaque 3, Bank Street, Greenock.  Download a leaflet from Discover Inverclyde.

As may be guessed from the name, Bank Street once housed a local bank - The Renfrewshire Bank.  The original bank building can still be seen on the eastern side of the street.  The Renfrewshire Bank, was set up in 1802 by a group of local merchants.  Unfortunately it failed in 1842 causing deep distress in the town.

Former Renfrewshire Bank building, Bank Street

Steps up from Bank Street lead to the Wellpark.  Once part of the grounds of the Mansion House of the Shaw family, it still retain an old well dating from 1629.  The park also contains Greenock's magnificent war memorial.

Mansion House well, Wellpark, Greenock

On the west side of Bank Street, behind the Wellpark Mid Kirk, once stood the old Greenock Gaol or as it was also known, the Bridewell.  The building was demolished to make way for the railway line to Gourock.

Picture courtesy of Greenock Burns Club

At the lower end of the street is a sculpture entitled "Hands of the Fallen" by Angela Hunter.  It is a reference to those locals who were killed or wounded in a riot in Greenock in 1820.

Hands of the Fallen sculpture, Bank Street

Leading off from Cathcart Square, Bank Street is worth having a look at.  Read more about Bank Street on this Blog -

The Failure of the Renfrewshire Bank

The Mansion House Well

Greenock Gaol

The Greenock Riot

The Failure of the Renfrewshire Bank

On 1 April 1842 the Renfrewshire Bank in Greenock stopped all payment causing widespread panic in the area.  It was reported that -

     "The whole town was in commotion, and men, women and children were seen

running in all directions, hurrying from shop to shop,

and place to place, seeking change of Renfrewshire Bank notes."

As word of the Renfrewshire Bank's failure spread people started arriving in Greenock from all over hoping to change their Renfrewshire Bank notes and withdraw money from their accounts.  There was a general run on all the local banks until it was ascertained that it was only the Renfrewshire Bank that had failed.  Many local people, shipowners, business owners, shopkeepers and small savers lost just about everything.

Former Renfrewshire Bank premises in Bank Street, Greenock

The Renfrewshire Bank had been set up in 1802 in the lower flat of a house in Hamilton Street, Greenock, opposite Tan-work Close.  It moved to its own premises in Bank Street, across from Shaw Place in 1811.  At one time it had branches in Inverary, Campbeltown, Rothesay, Port Glasgow and Glasgow.  The Bank published its own banknotes - you can see examples at the McLean Museum's Online Collection site here.

     

McLean Museum Online Collections 

There had originally been nine partners in the Renfrewshire Bank -

Archibald Speirs of Elderslie,

Boyd Alexander of Southbar, Renfrewshire,

John Cunningham, a merchant in Port Glasgow,

Alexander Dunlop, magistrate of Greenock

John Hamilton, merchant in Greenock

William Napier of Blackstone (near Paisley)

Charles Stirling of Kenmuir, a West Indies merchant

Peter Speirs of Culcreuch, Glasgow tobacco merchant

James Patten, of Greenock, formerly with the Greenock Bank

The death of Alexander Dunlop of Keppoch in 1840 seems to have been the tipping point in the Bank's downfall.  The only original partner remaining was William Napier.  Roger Aytoun had been admitted as a partner in 1820.  He was a former army captain (92^nd regiment) and brother in law of William Napier, having married Anne Napier in 1810.  

The Renfrewshire Bank ceased on 1 April 1842 with liabilities of over £230,000.  John Ker, a Greenock merchant was made trustee.  Holders of notes issued by the Bank prior to 1840 were paid by the estate of Alexander Dunlop (Keppoch), one of the original partners.

William Napier, one of the remaining partners, was described as "unmarried and of quiet and reserved manners, and took no particularly active interest in public matters." Both he and Roger Aytoun were declared bankrupt.  Napier sold his family estate of Blackstone, Renfrewshire in order to pay his debts.  Even the Bank's fixtures and fittings were auctioned to raise money.

The failure of the Renfrewshire Bank had long lasting effects for the people of Greenock and the surrounding area..  Many ships and houses were under mortgage to the bank and banknotes issued  by the bank became almost worthless - just two shillings and three pence per pound.  It was just one of the many small local banks which failed at this time.  However the lovely building still remains in use as a rehabilitation centre in Greenock today.

The Greenock Riot 1820

This sculpture is called The Hands of the Fallen by Angela Hunter.  "The fallen" is a reference to the local people who were killed or wounded during a riot in Greenock on 8 April 1820.  The sculpture is on Bank Street across from the Wellpark Mid Kirk.

The sculpture commemorates a dreadful day in Greenock's history.

Economic downturn after the Napoleonic Wars led to higher prices and unemployment. There was general unrest among workers and attempts to achieve political reform.  Artisan workers, including weavers were particularly active, calling for strikes across central Scotland.  Bands of radicals rallied and there were many skirmishes with the armed forces who had been called out to deal with the threat of unrest.  The ringleaders were arrested and jailed.  Paisley gaol was full so five prisoners were sent to Greenock to be imprisoned here.

A rumour about this soon got out and a mob gathered in the streets around the Bridewell (west side of Bank Street behind the Mid Kirk).  The five radical prisoners duly arrived in a cart escorted by the Port Glasgow Volunteers with a fife and drum playing.  The prisoners were put in jail and the Volunteers prepared to return to Port Glasgow.  The crown turned on them.  One of the local magistrates Mr Dennistoun tried to calm things down but to no avail.  Just at the Tontine (then on Cathcart Street), the mob began throwing stones and bottles.  Several of the Volunteers were hurt and fired a few shots in the air to warn the mob.  This only proved to anger them and eventually (at Rue End) the Volunteers had to fire in earnest, injuring and killing some of the crowd. 

The mob gathered together their own weapons, even pulling up iron railings en route, and followed the Volunteers on their way to Port Glasgow intending to fight.  They got as far as Garvel Park when they heard that more militia were being sent to Port Glasgow to help the local Volunteers.  At this, the crowd dispersed.  Meanwhile, some had broken into the prison and released the radicals (but none of the other prisoners).

A detachment of hussars and guards were sent from Glasgow by steamboat to Port Glasgow in case of any trouble.  But by the time they arrived the next day all was quiet.

A list of the dead and wounded appeared in the Glasgow Herald -

Adam Clephane (48) wound under the groin (dead)

Archibald Drummond (50) shot through the cheek (dead)

James Kerr (17) shot through the belly (dead)

John McWhinnie (65) shot through shoulder and chest (dead)

Hugh Paterson (14) shot through the leg (leg amputated)

John Patrick (30) shot through the thigh (doing well)

David McBride (14) shot through cheek and jaw (doing well)

A McKinnon (17) shot through chest and arm (doubtful)

Catherine Turner (65) shot through the leg (leg amputated)

John Boyce (33) shot through the belly (dead)

George Tillery (25) shot through the thigh (doing well)

Robert Spence (11) shot  in foot (slightly)

William Lindsay (15) shot dead on spot (dead)

James McGilp (8) shot in right thigh

Gilbert McArthur (18)shot through the left thigh (flesh wound)

John Turner (22) (flesh wound)

Peter Cameron (14) (flesh wound)

John Gunn (24) shot through calf of left leg

It was thought that there were so many leg injuries because some of the crowd had tried to wrestle the guns from the Volunteers.

The wording on the memorial plaque reads:-

Radical War Memorial

In Memory of those wounded and killed on the 8^th of April 1820 during a protest against the imprisonment of those who led the campaign for better social and economic conditions in a period of insurrection known as "The Radical War".  Eight died, the youngest of whom was 8 years old, and the oldest 65.

Listen to The Greenock Riot 1820 Podcast by The Greenockian