Clonakilty was founded by a charter of James I which 'Constitutes Sir Richard Boyle, Knight, his heirs and assigns, Lord of the town of Cloughnakilty, giving him the power of appointment of several of the officers, and the direction to a certain extent of the affairs of the corporation'.115 In 1738 the estate of Clonakilty and the borough was purchased from Lord Burlington by Speaker Boyle, and he nominated the provost from three burgesses elected by the corporation and freemen.116 At the 1768 general election Riggs Falkiner (0719) was 'brought in by Lord Shannon who owed him money'. Irish peers were often penurious, and bankers could extract favourable terms to be returned to parliament. In Lord Shannon's case this was unusual: his seats were usually used to return friends, family and political supporters. Clonakilty was disfranchised at the Union and Lord Shannon received £15,000 in compensation.