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On one side of the Irish holocaust was the Irish Famine Loan of 1847. And on the other side of the Irish Famine Loan of 1847, was the Encumbered Estates Act of 1849. Baron Lionel de Rothschild achieved a particularly honored position in the financial life of Great Britain when, in March, 1847, he offered to the English Parliament, which was endeavoring to deal with the 'unfortunate' condition of Ireland, his financial assistance for carrying the reforms that had been planned for that country.