Crowdfunding the Revolution: The Dail Loan and the Battle for Irish Independence

In 1919, the revolutionary Irish government launched an audacious plan to finance a counter-state in open defiance of British rule in Ireland. Half the money was to be raised in Ireland and half in America. This start-up government was determined not only to replace the British administration in Ireland but also to implement its own industrial and financial policies, including establishing a national bank. It was imperative that the domestic funding campaign succeed. Without funds, the counter-state government would be doomed to failure. A financial 'Ho Chi Minn Trail' was established; couriers secretly began distributing three million promotional leaflets throughout the country and carrying subscriptions to Dublin. The money was laundered into bank accounts and converted into gold using a 'gold exchange network'. This is the untold history of the fight for the revolutionary government's funds, the bank inquiry that shook the financial establishment and the first battle in the intelligence war.