Minute Book: March 1712

Pages 13-22

Calendar of Treasury Books, Volume 26, 1712. Originally published by Her Majesty's Stationery Office, London, 1954.

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March 1712

Mar. 1. Present: ut supra.
My Lord orders that the contracts for the bread and bread waggons for the last three years, together with propositions from Monsieur Vander Kaa to contract for the bread and bread waggons for the year 1712 (which was sent hither by General Lumley) and a report made thereupon by the Comptrollers of the Accompts of the Army, be forthwith transmitted to General Lumley with direction to him (in concert with Generals Cadogan and Wythers) to treat and conclude on her Majesty's behalf with the proposer or any other for the furnishing the said bread and bread waggons for the year 1712 upon the best terms and conditions they can obtain for her Majesty's service; and to transmit hither the articles to be executed by his Lordship [Treasurer Oxford] (on her Majesty's behalf) and the said contractor, who at the same time is to send his power [of attorney] attested by a public notary, to some person to execute his part of the said articles here and is afterwards to sign a bond (as hath been usual) for the performance of his covenants.
Mr. Milner [is] called with other Remitters in relation to 50,000l. to be remitted to Barcelona; and their proposals being read Mr. Milner's dated Feb. 26 last was found to be most for her Majesty's advantage: being as follows, viz. to supply 50,000l. in Barcelona, giving his bills at 4s. 8d. the piece of Eight, half thereof at sight and half at 30 days' sight: [and in repayment thereof he] to be paid in tallies on Malt [in the rota on the register of loans on malt] between 260,000l. and 310,000l.; "the tallies to be struck in his name this day": the bills to be for Weighty Doubloons of four pieces of Eight to the Doubloon.
My Lord agrees to the above proposal and [orders] the tallies to be struck in Mr. Milner's name forthwith: but directs that the advantage arising between Weighty doubloons and the Current or New Money [of Spain] payable to the Troops be brought to her Majesty's account of Profit and applied as so much more remitted for the use of the Forces in her pay in Spain: and the Deputy Paymaster [there is to] be ordered by Mr. Brydges to comply therewith.
My Lord directs Mr. Brydges to send positive orders to his Deputy at Barcelona by the express now going that no part of the 50,000l. now remitting thither is to be applied to any services of the German Troops in Spain till the advantage arisen by the recoinage of the 800,000 pieces of Eight lately sent thither be duly answered and placed to her Majesty's account and advantage. Treasury Minute Book XIX, p. 142.
Mar. 4. Present: Lord Treasurer, Chancellor of the Exchequer.
The Attorney General, Solicitor General, Auditor Harley and Mr. Cesar [Treasurer of the Navy] are called in about the affair of the South Sea Company: and a letter [is by my Lord] thereupon ordered [to be sent] to the Navy Commissioners to certify my Lord whether there are or are not before them any tickets made out before the 25th of March 1711 for wages to seamen or others whereby their wages are ascertained (except the Parliament tickets), and if there are any such, to transmit an account thereof to my Lord.
The Treasurer of the Navy proposes (for answering several pressing demands in the Offices of the Navy and Victualling) to borrow of the Bank of England the sum of 30,000l., to be repaid with 6 per cent. interest within two months from the time he receives the same; and to deposit with the Bank as a collateral security the sum of 33,000l. in tallies and orders on the fonds following, viz. tallies and orders on the fourteenth 4s. Aid for 20,300l.: tallies and orders on the Duties on hops anno 1711 for 12,700l.
My Lord agrees thereto and upon the Bank's making the said loan my Lord will take care the same shall be repaid with interest in two months accordingly. Ibid., p. 143.
Mar. 6. Present: ut supra.
The Directors of the East India Company and Mr. Godolphin and Mr. Bridges, Commissioners of Customs, are called in. The memorial of the Directors concerning the proceedings against the Company for the Duties of unrated goods is read. The Attorney General and Solicitor General (being present) say the proceeding is in a proper way already by English Bill. The Directors would have a trial by jury. The Attorney General and Solicitor General say the Company will have all the advantages this way as [they would] by a jury.
[My Lord Treasurer decides that] in case the Directors will state their case as to the 15 per cent. on muslins or any other matters relating to these Duties on unrated goods my Lord upon [their] presenting their case here will cause the same to be put in a proper way of examination.
A presentment of the Commissioners of Customs concerning the debentures for discharging tobacco bonds &c. is read. Mr. Auditor Harley (being present) says he has no objection against what the Commissioners desire. [My Lord orders a letter to] direct Mr. Ferne [the Customs Cashier] with some of the Commissioners [of Customs] to attend here on Monday.
[Send word] to Sir Roger Mostyn and Mr. Whitley [Whitfield] to be here to-morrow morning.
[My Lord directs the issue of] 100,000l. to Mr. Brydges by loans in his name on Malt anno 1712: [the orders for the said loans] to be struck with interest: and is intended to be applied towards satisfying bills of exchange. Ibid., p. 144.
Mar. 7. Present: Chancellor of the Exchequer.
The Gentlemen of the Bank are called in. They say the Treasurer of the Navy has been with them for a loan of 30,000l. upon a deposit of tallies [and they inform the Chancellor of the Exchequer] that they will comply therewith. But the Court of Directors expecting [that] further loans will hereafter be required of them for the public service are of opinion they shall not be able to comply therewith unless they be assisted [by being made the bankers for the Receivers General of Taxes and the Receivers of Customs, Excise and other Receivers and so entrusted] with the receipt of the public moneys. Ibid., p. 145.
Mar. 10. Present: Lord Treasurer.
The Customs Commissioners and Mr. Ferne are called in. The Commissioners' report is read about bonds discharged by debentures not properly applicable thereunto; wherein 'tis proposed that the proper officers in the Long Room [at the Custom House] do examine that matter. Mr. Ferne's objections thereunto are also read. But he says notwithstanding what he has therein suggested he is willing to submit thereunto (although 'twill be very troublesome) if my Lord thinks fit. Whereupon my Lord directs the Commissioners to cause the examination [of the applicability of debentures as they hereafter come in for payment in relation to the goods for which bonds originally were given] to be made as they have proposed: and if his [Ferne's] next account [of the Customs receipts and payments] which he is to deliver in to the Auditors [of Imprests] be any way retarded thereby he is to represent the same to my Lord for such directions thereupon as he shall think proper.
[My Lord directs the issue of] 1,000l. to the Duchess of Somerset for the Robes.
[Direct the Principal] Officers of the Mint to attend next Thursday in relation to the sale of her Majesty's tin under their management. Ibid., p. 146.
Mar. 11. Present: Lord Treasurer, Mr. Chancellor of the Exchequer.
Mr. Cæsar [the Treasurer of the Navy is] called in and [his memorial for money for the Navy is read, whereupon] my Lord orders that out of the 30,000l. borrowed of the Bank pursuant to the minute of March 4 inst. he do apply 17,907l. 11s. 4½d. to services as follows:
£ s. d.
to [the head of] Wages, for paying Parliamentary tickets for January and February 1711 and answering several defalcations 7,690 1
for the Marquess of Carmarthen's flag pay due at Michaelmas last 217 10 0
to [the head of] Victualling, towards the further carrying on the Course of that Office since Michaelmas 171 110,000 0 0
£17,907 11
Ibid., p. 147.
Mar. 12,
Present: ut supra.
Issue to the Treasurer of the Ordnance 10,000l. for account of sea service: to wit 5,000l. out of loans in the Exchequer on Land Tax anno 1712 and 5,000l. out of loans to be made by the said Treasurer on malt: interest to commence thereupon from the dates of the tallies.
Issue 3,631l. 18s. 0d. to Mr. Brydges out of loans to be made by himself on the Duties on malt for the year 1712: interest to commence from the dates of the tallies. And direct [the Auditor of the Receipt] that the tallies and orders for the said sum and the tallies and orders for 100,000l. (ordered to be issued to him [Brydges] in like sums the 6th inst.) be assigned with all interest from the dates [there-of as] in satisfaction of 103,631l. 18s. 0d. remaining due to be paid on bills of exchange drawn by Mr. Morrice in Portugal according to the scheme approved Aug. 22 last [supra, Calendar of Treasury Books, Vol. XXV, p. 417] for satisfying foreign bills. But write Mr. Brydges to pay these [bills] out of any effects generally.
Issue 1,940l. more to Mr. Brydges out of loans in money on the Land Tax anno 1712 for account of pay to Lieut. Gen. [Francis] Palmes's Regiment of Horse now in the Low Countries and [forming] part of the 40,000 men.
Mr. Merril having on behalf of Mr. How represented to my Lord Treasurer that the sum of 11,572l. 14s. 4d. is wanting to pay into the Exchequer upon account for the Receiver General of North Britain for money advanced by him to the Troops there, and [having for said Howe] desired leave to borrow the said sum from the Bank of England, to be repaid in two months with interest at the rate of 6 per cent. per an. from the time of receiving the money and [on condition of] depositing tallies and orders with them on the Duties on Malt anno 1712 as a collateral security, my Lord is pleased to give leave accordingly; and upon the Bank's making the said loan his Lordship will take care that the repayment thereof with interest shall be complied with.
[Send word to] Sir Roger Mostyn and Mr. Whitfeild to attend to-morrow.
Lay before my Lord the paper prepared for settling the days of sitting [of the Lord Treasurer at the Treasury] and the business of each day. Treasury Minute Book XIX, p. 148.
Mar. 13,
Present: Lord Tresurer, Mr. Chancellor of the Exchequer.
[The Principal] Officers of the Mint and Mr. Williams are called in. My Lord asks Mr. Williams what 'tis he proposes by which to advance the sale of tin. He says it shall be by a public sale. He delivers a paper containing his proposal which my Lord orders to be referred to the consideration of the [Principal] Officers of the Mint.
The Commissioners for Taxes are called in. Their papers are read [and my Lord's decisions are endorsed thereon].
My Lord Treasurer goes to attend the Queen.
Sir Roger Mostyn and Mr. Whitfeild are called in, Mr. Chancellor of the Exchequer being present. Ibid., p. 149.
Mar. 14. Present: Lord Treasurer.
Mr. Brydges is called in. His memorial dated Feb. 29 last is read acquainting my Lord that on the desire of the [House of] Commons that her Majesty would for the future only furnish Troops and pay subsidies only in proportion to what her Allies shall furnish and pay, he has wrote to Mr. Sweet to stop paying the Additional and Augmentation Troops till her Majesty's pleasure is known. My Lord [reads the same and orders that he is] to have this memorial delivered to him on Monday next to be laid before the Cabinet. See the answer underneath.
Another memorial [of Mr. Brydges] dated the same day is read for some care to be taken for securing the payment of 9,375l. to the King of Denmark on Mr. Stratford's bills of exchange given for [on] Hamburgh, which are protested for non payment. My Lord says the Queen is not to take this upon herself, but her Majesty's Minister at Hamburg may be required to be assisting to the King of Denmark or any person his Majesty shall appoint (if it be desired) in recovering the money due on the said bills.
Another memorial [of Mr. Brydges] dated the 5th inst. is read with an extract of Mr. Sweet's letter acquainting him [Brydges] with the difficulties in discounting bills. My Lord is of opinion credit will suffer by raising the discount in case Mr. Sweet distributes the bills (as he proposes) to the Paymasters of the Foreign Forces for them to discount.
On reading two other memorials that 200l. be paid to the Earl of Barrymore on account of his pay as Lieutenant General in Spain and 448l. 16s. 8d. to Capt. Colt of Brigadier Stanwix's [Regiment] for his own subsistence and the subsistence of several non-commissioned Officers and soldiers paid by him during his being a prisoner in Spain, my Lord Treasurer ordered these two sums to be assigned out of any tallies in Mr. Brydges's hands which may be applied thereto; the interest incurred on the tallies to this day to go in part thereof; and Mr. Brydges to surcharge himself with so much as the said interest shall amount to.
Mr. Brydges' memorial of the 29th February about paying the Foreign Troops, which memorial my Lord Treasurer took with him to lay before the Cabinet, was brought back again thus endorsed, "the Queen thinks these troops should be paid till an answer is received to the declaration which Lord Strafford is ordered to make in pursuance of the vote of the House of Commons." Ibid., p. 150.
Mar. 15. Present: ut supra
Mr. Penn [is] called in. The abstract of his memorial is read and the reports and other papers [thereon are also read] relating to a surrender proposed to be made by him of his Government [of Pennsylvania in consideration] for 20,000l.
My Lord Treasurer asks him how he comes to set such a value upon his Government.
Mr. Penn offers an account of the revenues arising thereby, signed by his Deputy Governor, Col. Evans.
The Colonel is called in. My Lord Treasurer asks him if he can tell for how long the revenues mentioned in his letter are granted to the Governor. He says he cannot charge his memory as to the first article: as to the next three articles they are perpetual.
My Lord Treasurer observes that the estimate of the yearly value of his Government (which he makes to be about 1,300l. per an.) is in New England money which Mr. Penn allows to be 25 per cent. worse than sterling money.
My Lord says that the substance of the proposal is that Mr. Penn offers to sell his Government for 2,857l. 2s. 10d. per an. for seven years. Ibid., p. 151.
Mar. 17. Present: Lord Treasurer, Chancellor of the Exchequer.
Papers [reports, memorials and proposals] are read: and the minutes [of my Lord's decision] taken thereon [are endorsed thereon].
[Write] Baron Scrope to attend [my Lord on] the days which shall be appointed for affairs of Scotland.
[Write] to the Customs Commissioners that during the session of Parliament my Lord cannot easily have them here in an afternoon; but being desirous they should attend once a week [my Lord] would know whether Wednesday or Thursday about 12 of the clock will be most convenient for them. Treasury Minute Book XIX, p. 152.
Mar. 18. Present: Lord Treasurer, Chancellor of the Exchequer.
[The draft of] a letter to Mr. Wyche is read and approved in relation to a bill for 37,500 Rix Dollars drawn by Mr. Stratford on Messrs. Stratford and Tree at Hamburg and given to Monsieur Rosenkrantz for three months' subsidy to the King of Denmark.
[The draft of] a letter to General Lumley is read and approved.
[Likewise] a letter to Lady Russell, with a copy of the report &c. from the Revenue Commissioners in Ireland.
[My Lord directs an issue of] 20,000l. to the Cofferer of the Household: by 2,000l. a week: for the service of the Household.
Mr. Sloper, attending in the absence of Mr. Brydges, is called in. A memorial is read [from said Brydges as Paymaster of the Forces Abroad] for 81,182l. 12s. 2¾d. to answer bills from Spain and Italy according to the scheme agreed on the 22 August last for their payment. My Lord Treasurer thereupon orders that 100,000l. be issued to Mr. Brydges in tallies and orders on the Malt Duties anno 1712; and that for the satisfaction of those bills Mr. Brydges do negotiate with the Bank a loan of 81,182l. 12s. 2¾d. for two months; to be repaid with 6 per cent. interest and the Bank in the meantime to have a deposit in the said tallies and orders for their security; and upon their making the said loan my Lord will take care that they be repaid again with interest accordingly.
Another memorial [from the said Brydges] is read for [money to pay] the advance on the contracts for bread and bread waggons; to wit 250,000 guilders for the bread and 183,540 guilders for the waggons. My Lord Treasurer says that when the contracts are executed in form and sufficient security given by the contractors to perform covenants the money to be advanced thereon shall be punctually paid.
The letter of Mr. Clark, one of the King of Portugal's contractors, is read for arrears of the King of Portugal's subsidy to be paid him according to an assignment [made to him by the said King]. My Lord says that until the matter about the Portugal Regiments in Catalonia is determined it cannot be known what the arrears on the said subsidy amount to.
Lord Halifax's report is read on the petition of the lenders on the General Mortgage anno 1708 and anno 1709, the said petitioners praying payment of their arrears of interest. My Lord Treasurer orders that the Chancellor of the Exchequer do consider of a proper way of laying this demand before Parliament. Ibid., p. 153.
Mar. 19. Present: ut supra.
Sir John Stanley and Mr. Pryor are called in. Some Custom House presentments are read and the minutes are taken on them [and are endorsed thereon]. Ibid., p. 154.
Mar. 21, forenoon. Present: ut supra.
The Commissioners for Arrears of Taxes [are] called in. Their report is read on a petition of Mr. [Peter] Gott, Receiver of [Taxes for Co.] Surrey [sic for Sussex]. My Lord finds nothing therein to induce him to stay process [against the securities of the said Receiver] and therefore unless something further is proposed by the petitioners to secure the Crown's debt, process must issue.
Lord Abingdon comes in. Mr. Borret "at his Lordship's [Abingdon's] instance" is to take care to attend the Attorney General in order to raise process against the cottagers who commit waste in South Bere Forest and against like offenders in Sherwood Forest at the instance of my Lord Chesterfield.
The Virginia merchants [are] called in. Their representation is read, the Attorney General being present; [and is by my Lord Treasurer] ordered to be sent to the Customs Commissioners and they to bring their report next Wednesday. And my Lord desires the Attorney General and some of the merchants to be here at that time.
Lord North and Grey [is] called in and his memorial [is read] in relation to a charge on his Regiment before his Lordship had it: [which memorial my Lord Treasurer] ordered to be referred to the Comptrollers of the Army Accounts. Desire them to make their report against Tuesday next.
Mr. Sloper, attending for Mr. Brydges, is called in and a memorial [of the said Brydges as Paymaster of the Forces Abroad] is read for 9,937l. 16s. 9d. for recruiting service in Flanders and other occasions on this side [the channel]. My Lord Treasurer says that having already provided for the full subsistence of the Forces to the 22nd of April next he cannot order this money likewise: but the Regiments must draw upon their own [Deputy] Paymasters abroad for it [see infra under date April 1].
Ordered that the Queen's warrant for Mr. Webb and the Earl of Orrery their pay as Lieutenant and Major General anno 1711 amounting to 3,105l. 17s. 4d. be satisfied as proposed in another memorial dated the 15th inst.; to wit 1,473l. 15s. 0d. out of money which remains in Mr. Brydges' hands undisposed of [being] granted by Parliament for the pay of the General Officers for the year 1711 and 1,632l. 2s. 4d. out of tallies and orders remaining likewise in his hands on the Duties on Malt for the year 1711. Ibid., p. 155.
Mar. 22. Present: ut supra.
[The draft of a] letter to the Commissioners of Sick and Wounded concerning their agent Mr. Slaughter is read and approved.
[Write] to Mr. Sloper to hasten the account of the remittances and to bring it hither in order to be presented to the House.
[Write] to the Commissioners of Taxes for an account of the moneys paid out of Land Taxes for recruits.
[Send notice to] Lord Lansdowne and Mr. Bridges to be here on Tuesday about the extraordinaries of the war. Ibid., p. 156.
Mar. 25.
Present ut supra.
Mr. Hawes [is] called in. [My Lord directs the Exchequer to] issue 55,000l. to the Navy Treasurer out of loans to be made by him on Malt [anno 1712].
Likewise 20,000l. to Mr. How [as Paymaster of Guards and Garrisons].
Likewise 55,617l. 4s. 6½d. to Mr. Bridges [as Paymaster of the Forces Abroad: out of Malt loans] in like manner.
Mr. Merril [on behalf of Mr. How, Paymaster of Guards and Garrisons is] called in. [My Lord reads his memorial and directs the Exchequer to] issue 11,000l. in [ready] money to Mr. How and so much more as will pay two months to the Invalids. Mr. Merrill certifies 6,213l. 5s. 6d. for one muster.
[Write] to my Lord Lansdowne to move her Majesty to give order that there be a general review of the Invalids and that such of them as shall appear to be fit for service be incorporated in the Regiments of Recruits.
Issue 31,048l. 6s. 6d. to the Navy out of loans on the Land Tax anno 1712; to pay bills of exchange on the head of Victualling: to be issued by 4,000l. a week for seven weeks and the balance in the eighth week, the first of the said weekly payments to be made forthwith.
My Lord Treasurer directs the Treasurer of the Navy to borrow of the Bank of England a sum of 50,000l. for the service of the Navy on a deposit of 55,000l. in tallies and orders on the Malt Duties anno 1712; to be repaid to the Bank within two months with 6 per cent. interest.
My Lord directs Mr. Merryll to borrow of the Bank of England a sum of 18,000l. for the Guards and Garrisons upon a deposit of tallies and orders for 20,000l. on the Malt Duties anno 1712; to be repaid to the Bank within two months of the advancing, together with 6 per cent. per an. interest. Treasury Minute Book XIX, p. 157.
Mar. 27. Present: Lord Treasurer.
Sundry reports and papers are read: and the answers [in the form of minutes by my Lord thereon are endorsed] upon them.
Look out all the reports from the Comptrollers of the Accounts of the Army, and write to them to attend my Lord here on Saturday between 11 and 12 a'clock.
Issue 10,000l. to the Master of the [Great] Wardrobe by 500l. a week.
Issue 300l. a week to the Paymaster of the Works "till the 10,000l. to the Wardrobe be satisfied" and after the satisfying thereof, issue 800l. a week to the Works till thereby 13,930l. 1s. 2¾d. be issued; [and is] to pay the debts in the said Office [of the Works] for three months ended 1711 Sept. 30, including the charge of fitting up her Majesty's Chapel at Hampton Court. Ibid., p. 138.
Mar. 28. Present. Lord Treasurer, Chancellor of the Exchequer.
The Gentlemen of the Bank [are] called in. They acquaint my Lord that the Treasurer of the Navy and Paymasters of the [Guards and Garrisons at home and] Forces [Abroad] have been at the Bank for loans to the amount of 150,000l. upon deposits of tallies: which [requests] they are ready to comply with; and say that if the [various county] Receivers of the Land Tax did return their moneys through the Bank it would be better enabled to serve the public on future occasions.
Mr. Brydges [Paymaster of the Forces Abroad is] called in. His memorials [for money for the Forces] are read. Ordered that he do take care that the Bank do give their bills [of exchange on Flanders] for 100,000l. on their former agreement for subsistence of the Troops in Flanders; to be sent by this night's post: and my Lord will order 50,000l. to be remitted for the same use on Tuesday next and 50,000l. more on this day sevennight.
[Write to] the Secretary at War to send my Lord Treasurer a list of all the warrants prepared by him and signed by her Majesty which remain unsatisfied; and that in all times coming his Lordship [the said Secretary] will please not to prepare any warrants for payments out of the Contingents of the Army till the matter has been thoroughly examined and the money for it actually ordered into the [Army] Paymasters' hands.
My Lord Treasurer takes into consideration a memorial of Sir Ambrose Crowley relating to what is owing to him for goods furnished to the Navy since the 30th of April last and for which (by agreement made with him by the Navy Commissioners that day) he was to have such advances (if any) as should be made in the prices of the said goods upon any new contracts for the same.
My Lord also considers a Report made by the Navy Commissioners thereupon. And upon hearing the said Commissioners and Sir Ambrose, my Lord Treasurer orders that the bills for all goods served by Sir Ambrose for the use of the Navy since the 30th of April 1711 and for what shall hereafter be served by him shall be rated according to his former contracts made with the Navy Commissioners on the 9th Oct. 1696, 11th Sept. [1704] and 18th Dec. 1704 until new contracts shall be made: and that the first 10,000l. incurred and grown due for goods served by him since the 30th April last be registered and assigned for payment out of South Sea Stock, and the rest due and to grow due to the said Sir Ambrose shall be registered and paid according to the new Course [of the Navy] begun at Michaelmas last 1711 until new contracts shall be made as aforesaid. Ibid., p. 159.
Mar. 29. Present: ut supra.
The Comptrollers of Army Accounts [are called in] and Mr. Auditor Harley and Mr. Brydges. Upon reading the joint report of the Auditors, the Comptrollers of Army Accounts, the Paymaster [of the Forces Abroad] and the Secretary at War, my Lord Treasurer orders that the money which has been paid by Col. Arnutt (Arnott) [as Paymaster for and on account of the Expedition to Canada] shall be charged to the accounts of the Regiments which received it; and for what exceeds the pay of the said Regiments the Colonel is to be set in super.
As to what relates to the bills drawn by Sir Hovenden Walker [on account of the said Expedition my Lord orders Mr. Lowndes to] send to the respective Officers concerned therein to attend about them next Thursday; and in the meantime they are to have an extract of the said report.
As to the bills drawn for transporting the French garrison from Annapolis to Rochelle the drawers [of the said bills are by my Lord ordered] to be set in super.
And as to the bills drawn by Col. Vetch for the Garrison of Annapolis, he is to be set in super.
My Lord will consider next Thursday of the method of issuing [money for] the two thirds of the said bills according to his Lordship's minute dated the _ [13th Feb., supra, p. 11].
The Commissioners for Arrears of Taxes [are] called in. Their reports are read and minutes [are] taken upon them [and endorsed thereon].
[Write] Mr. Lyn and Mr. Brydges to be here on Monday next about the account of extraordinaries to be laid before the Parliament.
Mr. Hawes [is] called in. [On reading the Navy Treasurer's memorial for money my Lord] ordered 20,000l. for the Course of the Navy and 20,000l. for the Course of the Victualling. Towards this total of 40,000l. the sum of 12,092l. 8s. 7½d. remaining in the Navy Treasurer's hands out of the last 30,000l. advanced by the Bank is to be applied in part of the 20,000l. for the Victualling Course and the residue of the said 40,000l. is to come out of a further loan of 50,000l. which the Bank have agreed to make on a deposit of tallies. Treasury Minute Book XIX, p. 160.
Mar. 31. Present: Lord Treasurer, Chancellor of the Exchequer.
Papers are read and minutes [are] taken upon them [and are endorsed thereon]. Ibid., p. 161.