While reading the evidence before a parliamentary enquiry into land tenure taken in Bantry in 1844 and came across a reference to a tenant paying his landlord with a £3 note.  I never came across this before, I do remember the old orange 10 shilling note.

When I checked it out the history was interesting.  Ireland apparently joined sterling in 1825 (currency fluctuations are not new) and the Bank of Ireland was given authority to issue notes.  Included was the £3 and 30 shilling notes.

In 1844 a farm laborer was lucky to get 8p. per day and the salary of a Resident Magistrate started at £300 per annum.  If you took  a laborer now at a low €75 a day that would give the value of £3 at €6,750 or the pay of the modern equivalent of a Resident Magistrate a District Justice at €123K then the value of £3 would be €12,300. Obviously the differential between £1 and £5 was too much hence the £3 note!