Treasury Calendar
August 1696

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Institute of Historical Research

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William A. Shaw (editor)

Year published

1933

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43, 44, 45, 46, 47, 48, 49, 50, 51, 52

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'Treasury Calendar: August 1696', Calendar of Treasury Books, Volume 11: 1696-1697 (1933), pp. 43-52. URL: http://www.british-history.ac.uk/report.aspx?compid=82700 Date accessed: 16 April 2014. Add to my bookshelf


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Contents

August 1696

Aug. 3,
afternoon.
Present:—Lord Godolphin, Sir Stephen Fox, Mr. Smith, Sir Thomas Littleton.
Send to Mr. Burton and Mr. Knight to be here to-morrow morning.
Send to Sir Thomas Cuddon, the Chamberlain [of the City] to be here to-morrow morning and to hasten the account which he was directed to send of the payments made to him on the 4s. Aid within the times limited for taking clipt money; and [of] how much was received within the several wards and parishes before the 4th of May.
[My Lords order] Richard Aplin to have 10l. to carry him to Ireland and not the 30l. which was lately directed.
[My Lords direct] Mrs. Mansell to have 10l. Ibid., p. 356.
Aug. 4,
morning.
Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
[Send word] to Mr. Duncomb to be here this evening.
[Send] to the Mint Officers to be here to-morrow morning.
Send Mr. Neal to direct him to take especial care that the directions contained in the Act of Parliament and in their [Treasury] Lordships' warrants for bringing the new money from the Mint to the Exchequer be exactly complied with and that none be parted with until it be specifically brought and told into the Receipt. Ibid. p. 357.
Eodem die, afternoon.Present:—Sir Stephen Fox, Chancellor of the Exchequer, Sir Thomas Littleton.
Mr. Papillon et al. the Victuallers are called in. Their memorial for money is read. My Lords [reply that they] cannot give them Exchequer Bills in payment as yet.
Mr. Hall [is] to be allowed 30l. for advancing 1,300l. for the Mint on the money which was in the Pix box.
Sir William Ashurst and Sir Richard Levet [attend] about clippings produced in evidence at the Old Bailey when they were sheriffs. Sir William says they do not insist on their right [to the said clippings]: they will be thankful to take them in my Lords' own way.
My Lords [decide that they] will report to the [Privy] Council that the King's right should be put out of [all reach] of dispute, but that their [the sheriffs'] services do deserve a consideration at least equal to the value of these [last condemned] clippings and clipt money. They may pay the value [thereof] into the Exchequer by a tally to be levied in satisfaction of a warrant giving them so much for their good services.
[Send] to Mr. Wardour to come here to-morrow morning.
The Earl of Montagu [attends and] says he cannot discount the Wardrobe tallies [at anything] under 30 per cent.; but taking Bank Bills he thinks he can get the money for 15 per cent.; and his Lordship will be answerable for the tradesmen that the tallies shall pass so [shall be accepted by the tradesmen at that discount].
My Lords consent. The tallies his Lordship has already are for 12,000l. and he shall demand between 13,000l. and 14,000l. more.
[Send] to Mr. Palmes to come here to-morrow morning.
[Send] to Mr. Duncomb to be . . . Treasury Minute Book VIII., p. 357.
Aug. 5,
morning.
Present:—all the five Lords.
[My Lords order] Sir William Trumbull to have 500l. for secret service.
[Send to] the Commissioners of the Victualling to be here to-morrow morning.
Send to the Commissioners and the patent officers of the Customs to be here on Friday afternoon. Mr. Meesters and Auditor Bridges to be here then. Alderman Russell's account [of the Mediterranean victualling] to be considered then.
Mr. Duncomb to be here on Friday morning. Mr. Pauncefoot and the Agents [for the Irish Arrears] to be here then.
[My Lords order] Mr. Culliford to be the officer for the accounts of imports and exports and my Lords will speak with the Customs Commissioners about him on Friday.
Mr. Floyer is to refine one half of the silver of the clipt money lent on the privy seals and 1,800 pound weight of that silver is to be sent to each of these Mints [following, viz.] York, Exeter and Bristol, and 500 pound weight each to [the Mints at] Norwich and Chester. Ibid., p. 358.
Aug. 6,
morning.
Present:—Lord Godolphin, Sir Thomas Littleton.
[No entry of any minute.] Ibid., p. 359.
Aug. 7,
forenoon.
Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
My Lords [decide] to write to the Lords Justices that understanding that such use has been made of the letter granted in favour of Mr. Sarsfield as to endeavour the taking off the King's hands from the forfeited estate of Patrick Sarsfield before the Earl of Scarborough's debt, (directed by the King's warrant to be satisfied out of the same) be paid off, my Lords do apprehend it was the King's intention that the said debt should be satisfied; but finding it otherwise they desire that a stop may be put to doing anything further on Mrs. Sarsfield's letter till the Earl of Scarborough's debt be first paid off.
Write a letter to the Excise Commissioners not to stop the delivery of the beer brewed by Mr. Anthony Phillips at Deptford and Redriff for the service of his Majesty's Navy, which stands in great need thereof.
[My Lords direct] 10,000l. to be issued for the Victualling.
Mr. Pauncefoot and some of the Agents [for the Irish arrears] are called in. They say they are still endeavouring to raise the money to obtain payment of the Irish arrears. Mr. Pauncefoot says about 7,300l. is paid in and about 2,000l. more is ready. They say several others have undertaken. My Lords propose they should pay 5,000l. on Monday next and 5,000l. the following Monday and 10,000l. on the third Monday and 10,000l. on the fourth Monday.
Mr. Eyles acquaints my Lords he has above 20,000l. bills due from the Earl of Ranelagh.
My Lords [tell him in reply that they] are trying all ways to get money for him and hope to succeed in a few days.
Mr. Eyles [says he] will speak to those gentlemen who (subscribing at Mercers' Chapel) did intend to make good their subscriptions by giving their own bills to [on] Antwerp and will give my Lords their answer at what rates they are ready to do it.
The business of the afternoon is [ordered] to be put off till Tuesday afternoon.
[My Lords order] Lord Culpeper to have 100l. for one year. Ibid., p. 360.
Aug. 8,
morning.
Present:—Mr. Smith, Sir Thomas Littleton.
[No entry of any minute]. Ibid., p. 361.
Aug. 11,
morning.
Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
[Send] to Mr. Morton to be here to-morrow morning. [He lodges] in Cornhill at the Artichoque.
Mr. Eyles [attends]. He is desired to come again in the afternoon.
Mr. De Casseres [attends]. He says if he could have Bank Notes he could find returns [bills of exchange] for 100,000l. or 150,000l. for Flanders. But he would [desire to] have commission at 2 per cent. and to pay on the other side [in Flanders] at the current rate of exchange: [he argues] that none can do this so well [cheaply] as the Bank themselves and he insists that the Bank Notes be payable 50,000l. at one month, 50,000l. at 2 months and 50,000l. at 3 months. He'll come again in the afternoon.
Send to Mr. Knight and Mr. Burton to be here this afternoon. Ibid., p. 362.
Eodem die, afternoon.Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
Mr. Hoare brings his grandfather's answer concerning Mr. Vanburgh, and says if my Lords please his grandfather will continue him.
My Lords [reply that they] desire Mr. Vanburgh may be continued at Bristol. But Mr. Hoare says he never came to his grandfather till he had given his deputation to Mr. Woodnought. My Lords leave it to the Comptroller.
Lord Godolphin goes out [struck through].
Mr. Knight says the Governor and some of the Bank did desire he would go no further in taking Bank Bills at the Customs House because their money at the Exchequer should not be stopped for them.
Send to the Commissioners of Excise and Mr. Duncombe to be here to-morrow afternoon.
The Customs Commissioners are called in with the patent officers [of London port] and Mr. Williamson. Mr. Godolphin thinks it will be an unnecessary charge to set up an office proposed by Mr. Williamson about examining debentures. The business is the same that is or should be done by Mr. Cook. The established method is good already but not well executed. He proposes the Commissioners should compare the debenture with the entry in the book.
Sir Nic. Crisp says twelve persons are now entrusted in examining debentures and other matters about them and multiplying officers may make confusion.
Mr. Nicholas presents a paper of their present method. He says never any mistake but was discovered before payment.
Mr. Chadwick allows that, but says he would have an officer to see all be done fairly.
Mr. Godolphin says there has been frauds and gives an instance.
Mr. Clerk thinks the Commissioners may examine the entries in the books and to erect a new office were to repose all in one man and there would be no more security than at present.
Mr. Williamson says the occasion of his memorial was irregularities by obtaining double sets of indentures. When he was an officer such things were attempted and he finds such attempts are continued. He will not say money has been actually received by fraud but if he had not prevented it [it] had [it would have]. He gives an instance where the same clerk signed a second set.
The Customs Commissioners are [directed by my Lords] to consider of the best method that shall appear to them to obviate frauds in the obtaining or payment of debentures.
Sir John Shaw, upon a presentment of the Commissioners concerning the receipt of the imposition on Plantation Goods, offers his case in writing, which is read, proposing to compute the same but not to receive the money.
My Lords agree that the receipt of the subsidy and imposition of Plantation Goods be continued in Mr. Wolstenholme and that Sir John Shaw take the charge [or function] of computing the same and keeping a due charge as well of the money as of the bonds upon the said Receiver and that the other patent officers do comptroll the same as if received by Sir John Shaw; and for [reward for] their trouble a representation is to be made to this Board.
Send to Mr. Meesters and Mr. Bridges to be here this day week. Treasury Minute Book VIII., p. 362–3.
Aug. 12,
morning.
Present:—Lord Godolphin, Mr. Smith, Sir Thomas Littleton.
Send to the [Assessment] Commissioners of every county that my Lords have great reason to suspect that more clipt money has been paid by the collectors of the 4 shilling Aid to the Receiver General [of each respective County] than they, the said collectors, actually received from the King's subjects before May 4 last; and that the Receivers General have paid more clipt moneys into the Exchequer than they received from the collectors. And considering that this must be a very great injury to the people to be forced now to pay in new moneys the taxes which they might and perhaps would willingly have paid in clipt moneys if notice had been given them before the 4th of May (struck through) abuse, my Lords desire the Commissioners to meet within their respective Divisions and to enquire how much on the tax was paid within every parish or place in that Division before the 4th of May; and to transmit to my Lords an account of the whole sum so paid in the whole Division [so] that when the payments for the whole county shall be put together it may be seen whether the collectors did not pay more [clipped money than that total] to the Receiver General, or whether the Receiver General has not paid more [clipped money than such total] into the Exchequer than the collectors received from the people or than he himself received from the collectors.
Mr. Morton says he finds people unwilling to part with their clipt money on the terms proposed by him, viz., 5s. 8d. an ounce [payable as to a] half [by tallies] on the Exchequer in general and half in Bills of the Exchequer and [with an additional Treasury guarantee for the sellers] to have the deficiency registered [in course on the Act].
[My Lords direct the issue to the Treasurer of the Navy of] 10,000l. for wages: to be issued out of the money of the funds. Ibid., p. 364.
Eodem die, afternoon.Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
The Excise Commissioners and Mr. Duncomb [attend]. The said Commissioners are ordered to prepare such a letter to their collectors as they think proper for encouraging them to take Exchequer Bills [in payment of Duties] and they are to lay same before my Lords for their approbation.
Ordered that Mr. Noel pass the privy seal for discharging Mr. Duncombe's bond. Ordered that Noel bring his bill of charges for passing the first Commission of Excise in King James II's time.
Send to the Customs Commissioners to be here to-morrow afternoon. Ibid., p. 365.
Aug. 13,
afternoon.
Present:—ut supra.
[My Lords order] Mr. South to have leave to come over [from Ireland] for some short time in case there be a quorum at Dublin without him.
The Customs Commissioners are called in. Reports are read.
The Excise Commissioners are called in. When they are agreed on the form of the letter [to be sent] to their collectors about taking Exchequer Bills they must present it to my Lords. Ibid., p. 366.
Aug. 14,
forenoon.
Present:—Lord Godolphin, Mr. Smith, Sir Thomas Littleton.
The Auditor [of Imprests] is to be here on Monday afternoon about Admiral Russell's [Mediterranean Victualling] account.
[My Lords order] 2,000l. to be issued to the Earl of Ranelagh for Mr. Eyles in satisfaction of so much [due] on Mr. Hill's bills: to be issued out of cash [raised] on Exchequer Bills.
Likewise 1,000l. out of same to be issued to said Earl to answer some other small bills of the said Mr. Hill, now due.
[My Lords order] 4,000l. of the tallies in the Earl of Ranelagh's hands to be delivered to Mr. Lamb or his assignees upon account for the Hospitals in Flanders.
Mr. Meesters and the Auditor are to be here on Monday afternoon.
[My Lords order] 4,000l. to be issued to the Wardrobe for the furniture of the King's house at Kensington, to be issued out of loans made per Mr. Burton at the Exchequer on credit of the Excise.
[Write to] Mr. Pauncefoot that my Lords expect that he complies with the promise for the 5,000l. to be paid next Monday and that the 5,000l. which should have been paid last Monday be completed if not already so done.
Mr. Parry and Mr. Onslow [attend and] present to my Lords the drafts of two letters which they say have been agreed by five of the Commissioners of Excise, the one to encourage Mr. Duncomb [Excise Cashier] and the other to encourage their collectors to take Exchequer Bills [in payment of Excise Duties]. See the papers in the hands of Mr. Powys. Ibid., p. 367.
Aug. 17,
afternoon.
Present:—Lord Godolphin, Sir Thomas Littleton.
Mr. Meesters and Auditor Bridges [attend]. The accounts of Mr. Meesters are read. My Lords order a privy seal to pass them.
My Lords desire Mr. Meesters to discharge the two Sink Ships, a Machine Ship and Fire Ship, eleven pilots and four officers so that they may put the King to no further charge. Treasury Minute Book VIII., p. 368.
Aug. 18,
morning.
Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
Several merchants are called in who desire that Bank Bills may be taken at the Custom House [in payment of Customs Duties]. Their petition is read. Lord Godolphin says they [the Treasury Lords] never directed Bank notes to be received. They [the merchants] complain of partiality [shown] by the Receiver [General and Cashier of Customs] now for entries are admitted without paying money for some persons.
My Lords will speak with Mr. Knight about this and also with the gentlemen of the Bank.
The Victuallers come in. Their memorial of the 17th inst. is read. [My Lords order] 10,000l. to the Navy Treasurer for the said Victuallers: to be issued out of loans on the Continued Impositions.
Send a letter [of direction] to Sir Robert Howard [Auditor of the Receipt] to issue to the Treasurer of the Navy the new money proceeding from the clipt money (amounting to 100,500l. or thereabouts) which was lately paid into the Exchequer by the said Treasurer as imprest money repaid: [same to be hereby applied] to the same uses to which the [same] clipt money was formerly directed to be applied. [Send] a letter to the Navy Treasurer to give my Lords an account of those particular uses; and not to issue any part of it but by further direction from my Lords.
[Send] to Mr. Culliford to be here in the afternoon.
The [gentlemen of the] Bank will be here to-morrow afternoon.
[My Lords order] Mr. Burton to charge himself with the complement of the 400,000l. on the 6,000l. a week out of the Hereditary and Temporary Excise; and to reserve the tallies in his hands for such uses as my Lords shall appoint.
My Lords will speak to Mr. Knight about Mr. Morton's Impo[st] debentures.
[Send word] to Mr. Hoar to attend to-morrow morning.
[Send] to the Commissioners of Prizes to be here on Friday morning.
[Send word] to Mr. Sturt to be here to-morrow morning. Ibid., p. 369.
Eodem die, afternoon.Present:—Lord Godolphin, Mr. Smith, Sir Thomas Littleton.
The Commissioners of Sick and Wounded are called in. The proportions of the sums paid out of this year's funds to the [heads of] wages and victualling with respect to their whole proportions for this year [are directed by my Lords] to be adjusted and compared with the payments already made to these Commissioners. They say the year's expense in their Office will be about 35,000l.
[My Lords direct the issue of] 500l. to Mr. Neal for the Country Mints out of any disposeable money other than loans on Low Wines.
[My Lords order] Lady Plymouth's 250l. due at Midsummer last out of the Alienation Office to be paid to her out of the proceeds of the clipt money [arising] from that Office.
[My Lords order] a letter to be writ to Mr. Blathwayte [to be laid before the King] concerning the office of Comptroller General of the Accounts of the Customs, and Mr. Pope to be here to-morrow afternoon. Send to Mr. Duncombe to be here then.
[My Lords order] Monsieur Francis Souligne to have 30l. bounty.
[Send] to the Agents [for Taxes] to be here to-morrow morning.
Mr. Newton and Mr. Macy [attend]. My Lords direct Mr. Macy, under the Warden of the Mint, to prosecute the recovery of the clippings and other effects of the clippers and counterfeiters of the coin; and that money be supplied at present to the Warden for that purpose and when enough is recovered, the charge is to be borne out of the same; and what shall be recovered is to be paid to the hands of Mr. Newton, who is to be accountable [for same as is expressed] in the privy seal for this purpose.
Mr. Owen, steward to Lady Russell, and Mr. Knife, bailiff of Westminster, are to be here this day week. Ibid., pp. 369–70.
Aug. 19,
morning.
Present:—Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
The Earl of Montagu comes in. He desires more tallies for the Wardrobe and that he may be allowed the discount [which he has to allow for the encashment of same]. Ibid., p. 371.
Eodem die, afternoon.Present:—ut supra.
The Customs Commissioners are called in. My Lords propose to their consideration whether the Comptroller's office may not be executed by an able clerk and a good part of the salary saved to the King.
They answer, he should be a man of trust and also of skill in the accounts [of the Customs].
See the minute concerning the Duties on Coals exported, endorsed on the report [relating thereto].
The Custom House [Commissioners'] reports and cases are read and the answers [and resolutions of my Lords thereupon are] endorsed on them.
The gentlemen of the Bank come in. [They tell my Lords that the Directors'] Court has resolved that as to the 50,000l. for which on the 15th inst. they gave a credit for 450,000 guilders, it be done at [the rate of exchange of] 9 guilders for a pound sterling: and as to the 150,000l. to be remitted [to Flanders] they will give their bills according as the exchange shall go at the time they give their credit for it. These rates of exchange are reckoned and to be reckoned according to the payments where they are made, in Bank Bills and not in new money or guineas. Ibid., p. 371.
Aug. 21,
morning.
Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
Mr. de Casseres [attends about credits and] says if my Lords can give him old Bank Bills for 50,000l. within 2 months his friends will give a credit at double usance payable in Bank [money] at Amsterdam for the value: or the like for 100,000l. He'll come again on Tuesday.
Send to the officers of the Mint to dispatch all matters for the Chester Mint.
The Prizes Commissioners are called in. Ibid., p. 372.
Eodem die, afternoon.Present:—Lord Godolphin, Chancellor of the Exchequer, Sir Thomas Littleton.
[No entry of any minute.] Ibid.
Aug. 25.Present:—Lord Godolphin, Sir Thomas Littleton.
[Send word] to Sir Joseph Herne to be here on Friday morning or afternoon as shall be most convenient for him. It's about furnishing credits for Cadiz.
Mr. de Casserez [attends]. He'll come this afternoon.
Send to Mr. Duncomb to be here this afternoon.
Mr. [Nicolas] Baker and Mr. H. Baker are to be here to-morrow afternoon. Treasury Minute Book VIII., p. 373.
Eodem die, afternoon.Present:—Lord Godolphin, Chancellor of the Exchequer, Sir Thomas Littleton.
The Navy Commissioners [attend]. [Send] a letter to the Navy Treasurer to apply 40,000l. for wages to the men now going out in the Straits Squadron, out of the new money in his hands proceeding from the silver [melted out] of the sum of 100,500l. [clipt money] which he lately paid back into the Exchequer.
Mr. Macy and Mr. Knipe come in with the Warden of the Mint concerning the clippings &c., seized in Westminster. Mr. Knipe says the bailiffs of Westminster have always claimed these. He will acquaint the Dean and Chapter [of Westminster] that my Lords insist on these as the King's right.
[Send] to Sir William Ashurst and Sir Richard Lovel to be here this day week.
[Send] to Mr. Neal to be here to-morrow morning.
[Desire the] gentlemen of the Bank to be here to-morrow afternoon.
Send to the Excise Commissioners to be here to-morrow afternoon.
[Write to] Mr. Smith to discount tallies for 3,000l. on the Excise for the Privy Purse as reasonably as he can. Ibid.
Aug. 26,
morning.
Present:—ut supra.
Mr. Alderman Edwards is to be desired to exchange the clipt money &c., at Chester with the new money to be coined in the Mint there. Ibid., p. 373b.
Eodem die, afternoon.Present:—ut supra.
Mr. B[artholomew] Burton is called in. My Lords ask him whether he thinks any loans may be had upon the Exchequer in general if [they were] to be made in Bank Bills. He says he hopes there may and with Mr. Knight will endeavour to procure such loans.
My Lords desire him also to get 1,000l. advanced on the tallies in his hands for the Civil List: which he promises to do.
The Excise Commissioners come in. My Lords recommend it to them to give the Victuallers all the credit they can at this time, they having extraordinary service to perform.
They say if my Lords will give them direction so to do they will give them credit for 4,000l. or 5,000l. but hope my Lords will take care to see them paid; for the Victuallers [the Victualling Commissioners] owe them above 40,000l. already and make no manner of reckoning with them.
My Lords say they will.
Mr. Nicholas Baker and Mr. Henry Baker [are] to be here on Friday morning next. Ibid.
Aug. 28.Present:—ut supra.
[My Lords order] Mr. Nedler to have 50 guineas.
[My Lords order] a letter [of direction to be sent to the Exchequer] to issue 20,000l. to the Earl of Ranelagh for the Forces, out of loans on low wines and sweets: to be reserved [in the said Earl's hands] for such particular uses as shall be directed. Send a letter to the Earl that he so reserve the said 20,000l. or Exchequer Bills for the same.
[Write] to the Bank that some of their members be here at six o'clock this afternoon.
[My Lords order] a letter [of direction to the Exchequer] to issue 7,991l. 1s. 2d. to the Navy Treasurer out of loans on the Continued Impositions.
Also for 20,000l. more to be issued to the Navy for wages; out of the funds for the Navy [for this year], but not to be applied save by particular direction [from my Lords]. Ibid., p. 374.
Eodem die, afternoon.Present:—ut supra.
[Send to] the Commissioners of Excise and the Victuallers to be here on Tuesday afternoon next.
[The gentlemen of] the Bank of England are called in. Lord Godolphin tells them my Lords have been considering their demands contained in a memorial of the 5th of June last, some of which they have authority to allow and dispatch and expect orders [from the King] by the next post for the rest. Lord Godolphin reads the first article being a demand of 1,682l. 5s. 7d. according to an account of 2 stivers per £ sterling for some credits given about May 1695; to which my Lords agree. Then the second article is read [desiring payment] for the deficiency of their 100,000l. for the year ended 1st June last. My Lords say they have no objection thereunto but desire them to take tallies upon the Excise next after the 400,000l. for the Civil List.
They say they have no instructions to consent to that and that they are advised such tallies will be little or no security by reason of the Bankers' debt, &c., and that tallies of [? after] the 400,000l. are but bad payment in regard there is 30 or 40 per cent. allowed for the discount of them.
My Lords tell them, if they should give them any part of the 400,000l. they [my Lords] would be deficient by so much of the Parliament's allotment for the Civil List which if it had been all money would not near have answered the occasions thereof: that my Lords cannot strike [tallies on the funds allotted by Parliament] for the Civil List beyond the said 400,000l., but for the Bank they can [so strike tallies] because the Act of Parliament that settled their [the Bank's] fund authorises the deficiency to be satisfied out of any branch of the revenue.
[The gentlemen of the] Bank say 'tis doubtful to them whether the Excise can be charged for them more than for the Civil List after the 400,000l.
My Lords are all of opinion to the contrary but desire them to consult counsel on the matter.
They say they will make a case of it against their next Court.
The third Article [desiring payment] for 106,638l. 18s. 10d. for the 100,000l. remitted on May last was read and agreed to.
[My Lords read article No.] 4 for a consideration of the Bank's losses sustained by the remises [remittances of exchange to Flanders]. My Lords say they expect the King's direction thereon by next post.
[My Lords read articles] 5 and 6 relating to the manner of satisfying them for the 2,000,000 of florins remitted to Flanders in May and June last.
My Lords say they intend to transfer [this repayment to] them to the Salt Act.
[The gentlemen of the] Bank reply they never agreed to that.
My Lords [say they] thought it had been what they desired and tell them that what[ever] is in their power to do they shall do very readily and expect by the next [post] direction from his Majesty for making them allowance for their losses, &c.; and in the meantime [my Lords will] order their accounts current with the Earl of Ranelagh and their account of losses to be referred to the Earl of Ranelagh to examine and report.
My Lords ask them when they intend to remit more money to Flanders, believing it is very much wanted there.
[The gentlemen of the] Bank [reply]. We must acquaint the Court first what has passed to-night.
My Lords tell them they do not at all doubt but they shall have direction by the next post for allowing their losses, &c., and desire them to be as speedy as they can in their remittances.
[The gentlemen of the] Bank think two or three days cannot signify much. They say they have extremely strained themselves and desire 5,000l. or 6,000l. may be some way or other supplied to them to-morrow at the Exchequer, they having not received anything there this 14 [days] though a great deal [is] due.
My Lords [reply that they] will inform themselves and if there be any money of theirs [the Bank's] in course [of payment] at the Exchequer they will take care it shall be punctually paid to them.
The [gentlemen of the] Bank do not say there is, but desire that the sum or sums of 4,000l. or 5,000l. may be supplied some way or other to-morrow and that directions may be given for coining the [collected] money of the present 4s. Aid on which they have some orders [charged].
My Lords say they have [given] and will give directions that that shall be the first money coined of all the remains not yet coined.
Sir William Gore acquaints my Lords that 1,000l. of the money which my Lords ordered him some time since is not yet paid him and prays that my Lords will order him 2,000l. in ready money now and the rest (that is due to him) in tallies with an allowance for discount.
My Lords call in Mr. Abbot and ask him what tallies he has in his hands. He says that [what he has are] on the Annuity Act and Continued Impositions [and that] he has been forced to give 26 per cent. for discounting some [of the tallies charged] on the Annuity Act.
Sir William Gore says he will discount at 20 per cent. so much as his own debt comes to.
My Lords [tell him that they] cannot give him any ready money, but direct that he and Mr. Abbot attend Mr. Lowndes to-morrow morning to adjust what is due to Sir William Gore and then my Lords will order payment thereof in tallies as desired: and in the meantime [my Lords order the despatch of] a letter to Mr. Panceford to use his utmost endeavours to supply Sir William Gore with the 1,000l. last ordered and to attend on Monday afternoon next to give my Lords an account how the matter stands relating to the Agents for the Irish Arrears.
Adjourned till Monday afternoon. Treasury Minute Book VIII., pp. 374–6.