I'm currently writing a play about an American Civil War vet (Union) who comes over to Ireland on the cusp of the Fenian Rising. My question is, what currency would they use to pay for things (a room, food, etc.)? Would greenbacks be accepted? What about coins? Would the "exchange rate" be favorable for American currency or not?
Also what about Canadian coin? The idea is the character took part in the Fenian Raids in Canada, and would possibly have picked up Canadian currency too.
Any guidance would be helpful. Thanks!
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Ireland was part of the United Kingdom so the currency in use was the Pound Sterling in its pre-decimal form of pounds (£) shillings (s) and pence (d). £1 = 20s = 240d. US and Canadian currency were not legal tender.
There was a fairly extensive movement of money from North America to Ireland in the form of remittances (money sent home by emigrants). The money was usually transferred through banks in the US (often set up by Irish groups) but could also be sent in the post and changed in Ireland. This means it wouldn’t be unthinkable for Irish people to know about American currency at this time. Significant amounts of money were also sent to Ireland for political purposes by emigrants.
The pound was a much stronger currency at this time especially as the US had experienced considerable inflation during the civil war. I don’t have a primary source for the exchange rate but measuringworth.com gives $6.75 to £1.
Sources
GARY B. MAGEE and ANDREW S. THOMPSON, ‘“Lines of Credit, debts of obligation”: migrant remittances to Britain c.1875-1913’, Economic History Review, LIX, 3 (2006) https://www.researchgate.net/profile/Gary_Magee/publication/229564089_’Lines_of_credit_debts_of_obligation’_Migrant_remittances_to_Britain_c_1875-1913/links/59e0519345851537160665cb/Lines-of-credit-debts-of-obligation-Migrant-remittances-to-Britain-c-1875-1913.pdf
Padraig McGowan, ‘Money and banking in Ireland origins, development and future’, *Journal of the Statistical and Social Inquiry Society of Ireland *, XVI Pt 1. http://www.tara.tcd.ie/bitstream/handle/2262/2861/jssisi?sequence=1