Minute Book
September 1713

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Institute of Historical Research

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Author

William A. Shaw and F. H. Slingsby (editors)

Year published

1955

Pages

46, 47, 48, 49, 50

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'Minute Book: September 1713', Calendar of Treasury Books, Volume 27: 1713 (1955), pp. 46-50. URL: http://www.british-history.ac.uk/report.aspx?compid=86054 Date accessed: 23 July 2014.


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September 1713

Sept. 8. Present: Lord Treasurer.
Mr. Cæsar, [Treasurer of the Navy, is] called in and his memorial is read praying 100,000l. to be issued on the order in his name for the service of the Navy to redeem 110,000l. in tallies on this year's Malt deposited with the Bank [of England] about July 3 [as security for a loan] for that amount which was to be repaid out of the first 500,000l. made forth in Exchequer Bills. [My Lord] ordered accordingly.
His [Cæsar's] further memorial is read praying that the 60,000l. in South Sea Stock which he transferred to Mr. Brydges for the accommodation of the service of paying the Troops abroad by enabling him to borrow 50,000l. pursuant to a minute of 23rd April last may also be redeemed and transferred back to him for the service of the Navy. [Hereupon my Lord] ordered [the same to be so re-transferred] and a warrant to be prepared for issuing 50,000l. to Mr. Brydges in Exchequer Bills for redeeming 53,101l. 19s. 7¾d. in tallies and orders in the name of Thomas Micklethwayte for the Transport service; which [tallies and orders] were lent by him to Mr. Brydges [for the latter] to deposit with the Bank [as collateral security] for the 50,000l. above mentioned on his transferring to Mr. Micklethwayte the 60,000l. in South Sea Stock aforesaid.
[My Lord directs] 20,000l. more to the Treasurer of the Navy: out of the loan of 300,000l. now making on credit of South Sea Stock: [and is] for paying the reduced men of the ships designed for the Baltic.
Mr. Merryll is called in. Mr. Howe's memorials are read and the sums therein demanded for the Guards and Garrisons are ordered [to be issued] out of Exchequer Bills: and [my Lord orders the] warrants to be prepared accordingly.
The Attorney General and Solicitor General come in and bring with them the warrant for an additional Commission for taking subscriptions to the South Sea Stock: and the Attorney General acquaints my Lord Treasurer that in regard by the warrant the Commission [for subscription taking] will end at Michaelmas next it would be proper to lengthen it to 1 Dec. next. My Lord Treasurer agrees thereto and [orders] the warrant to be altered accordingly.
Some petitioners are called in about the year's interest of Transport debentures and their petition is read praying my Lord to direct the computing the said year's interest, they having right thereto by Act of Parliament and decree of the Court of Exchequer. My Lord Treasurer says he doth not think the Parliament ever intended they should have the year's interest and doth not think fit to give any direction in a matter which will be a loss of 60,000l. to the publique; and that they may apply to Parliament as he desired them to do last Session. Treasury Minute Book XX, p. 115. (fn. 1)
Sept. 9. Present: ut supra.
[My Lord] ordered [issues as follows] out of her Majesty's Civil List money: viz. to
£ s. d.
Mr. Scobel for tin: three weeks in arrear 9,000 0 0
the Cofferer of the Household 5,000 0 0
Mr. Holbeach to complete the ordinary in his name 4,000 0 0
the Privy Purse, three weeks 1,500 0 0
the Duke of Shrewsbury to clear his [Ambassadorial] ordinary 1,252 17
Lord Lexinton [on his Ambassadorial] ordinary 700 0 0
the Bishop of London [Dr. John Robinson, Ambassador at Utrecht] on the like 485 0 0
the Earl of Loudoun in part of 2,000l 1,000 0 0
the Duke of St. Albans 572 10 0
General Webb, the surplus of his account 256 16
Captain Studholme 97 6 8
the Paymaster of the Works for said Studholme for repairs 263 3 8
Mr. Smethin [her Majesty's goldsmith] in further part of 4,307l. 6s. 8d. 1,500 0 0
Mr. Compton 2,500 0 0
Mr. Popple for salaries and incidents [of the Board of Trade] 1,161 1
Sir John Cass et al., late Sheriffs of London 835 7 6
Mr. Conyers' salary as one of the Queen's Council 420 0 0
Mr. Baker for a present to the Emperor of Morocco 778 17 6
the Master of the Great Wardrobe 2,400 0 0
Mr. Lowndes for secret services 1,000 0 0
£35,322 19 8
Write a letter to the Customs Commissioners in Scotland about Mr. Strode, a Surveyor of that revenue, acquainting them that my Lord has given him leave to be absent from his post for a month or six weeks longer than his first leave, to despatch some private affairs of his own. Treasury Minute Book XX, p. 116.
Sept. 11. Present: Lord Treasurer.
My Lord is pleased to order that Mr. Cornwallis, Mr. Brent, Mr. Tilson, Mr. Arnold and Mr. Rhodes do forward the business of the intended Lottery in all things as far as the same may be done, till the Commission for managing the said Lottery shall be filled up and passed.
My Lord Treasurer agrees that if the Bank of England will lend 25,000l. for the service of the Ordnance upon a deposit of tallies and orders to be made by the Treasurer of the Ordnance they shall be repaid within three months of the time of advancing the same, together with 6 per cent. interest. My Lord directs the Treasurer of the Ordnance to make a sufficient deposit [of tallies as a security to the Bank] for that purpose.
Memorandum: Mr. Eversfield acquainted my Lord on the 16th inst. that the Bank refuse to lend upon the above minute unless it be altered so as that they shall be repaid the 25,000l. and the 6 per cent. interest out of the Exchequer Bills to be issued pursuant to an Act of the last Session of Parliament [12 Anne, c. 11]: which my Lord agrees to and the same is entered on the next page. Ibid., p. 117.
Sept. 16.
Windsor
Castle.
Present: ut supra.
Mr. Eversfield [Treasurer and Paymaster of the Ordnance] having acquainted my Lord that the Bank are willing to advance 25,000l. for the service of the Ordnance upon a deposit of tallies and orders now remaining in his [Eversfield's] hands provided they may be repaid with 6 per cent. interest out of the Exchequer Bills authorised to be issued by an Act of the last Session of Parliament [12 Anne, c. 11], my Lord agrees thereunto and directs the Treasurer of the Ordnance to make the deposit accordingly. Ibid., p. 118.
Sept. 18.
Treasury
Chambers,
Whitehall.
Present: ut supra.
Mr. Hawes [is] called in. He presents a memorial from the Treasurer of the Navy for money to pay off divers ships &c. [Thereupon my Lord directs] issues as follows:
£ s. d.
in part of 100,000l. for wages to ships to be put out of pay 50,000 0 0
in part of 20,000l. for carrying on the new Course of the Navy 10,000 0 0
for paying bills of exchange 10,000 0 0
for carrying on a year's pay to the Yards [due] at Michaelmas 1712 as in part of 152,433l. 15,000 0 0
for carrying on the Course of the Victualling in part of 20,000l. 10,000 0 0
for Necessary money to pursers for near eight months past 6,000 0 0
for short allowance money to the squadron lately arrived from Turkey 5,000 0 0
to complete 75,470l. 12s. 8d. for a list of foreign bills of exchange 21,662 18 11
£127,662 18 11
Ibid., p. 119.
Sept. 19. Present: ut supra.
Mr. Moore, Sir John Lambert and Mr. Milner are called in. The proposals of the two latter are read in relation to remittances for the Garrisons of Port Mahon and Gibraltar; and Sir John Lambert's [proposal], dated London the 15th inst., being most for the public advantage is agreed unto: viz. to give his bills for 7,000l. for Port Mahon at three days' sight at the exchange rate of 54 pence [sterling] per piece of Eight, to be paid in gold or silver at the current rate in the said place: and likewise 4,850l. for Gibraltar at 52 pence [sterling] per piece of Eight at three days’ sight and to be paid in gold or silver at current rate; and he [by way of reimbursement] to be paid in Exchequer Bills at the delivery of his bills.
[My Lord] ordered [issues as follows] out of the money of her Majesty's Civil List: viz. to
£
Mr. Scobell for tin 3,000
the Cofferer of the Household 1,500
the Privy Purse 500
Mr. Compton to complete his order 3,028
Mr. Smethin, the Queen's goldsmith, in further part of 4,807l. 500
Lord Lexinton [on his Ambassadorial ordinary] 300
the Bishop of London [Dr. John Robinson, Ambassador at Utrecht, on the like] 300
£9,128
[My Lord directs the Exchequer to] issue to Mr. Moor 25,438l. 10s. 6d. in Exchequer Bills [directed to be made forth] for the service of the year 1713: and is for the services following: viz.
£ s. d.
for 61 days' subsistence for the Forces in the Low Countries to 24 Oct. next 24,706 10 6
for 61 days' pay to the same time for the Governor and Staff of Dunkirk [Garrison] 732 0 0
£25,438 10 6
Treasury Minute Book XX, p. 120.
Sept. 21. Present: Lord Treasurer.
Several papers are read and minutes [are] taken [upon them and are endorsed] thereupon. Ibid., p. 121.
Sept. 24. Present: ut supra.
[My Lord] ordered [issues as follows] “out of her Majesty's Civil Government” [out of Civil List moneys]: viz. to
£ s. d.
Mr. Scobell for tin 3,000 0 0
the Cofferer of the Household 1,000 0 0
the Privy Purse 500 0 0
the Bishop of London [Dr. John Robinson] for [his Ambassadorial] extraordinaries 485 0 0
Mr. Compton 2,750 0 0
Mr. Smethin, [her Majesty's] goldsmith, in further part of 4,807l. 6s. 8d. 500 0 0
the Keeper of the Tennis Court[s] 132 3 4
Sir Clement Cotterell for a present to the Duke D'Aumont 1,057 0 0
£9,424 3 4
Ibid., p. 122.
Sept. 30. Present: ut supra.
Mr. Slooper [is] called in. My Lord asks him whether the money hath been paid to the Holsteyn [Troops] and Walloon Troops [Dragoons, viz. to Aug. 23 last] according to my Lord's directions of July 30 last to prevent their being any further charge to her Majesty. He [replies that he] cannot tell, but will enquire and will wait on my Lord with an account of that matter as soon as possibly; that he remembers directions were sent to Mr. Cartwright for that purpose.
[My Lord] ordered [issues as follows] out of her Majesty's Civil List money: viz. to
£
Mr. Scobell for tin 3,000
the Cofferer of the Household 1,000
the Privy Purse 500
the Lord Treasurer 2,000
Lord Lexinton [on his Ambassadorial ordinary] 400
Mr. Compton 300
£7,200
Ibid., p. 123.

Footnotes

1

The Act of 11 Wm. III., c. 2, for resuming William's grants of Irish lands and for selling them to meet (inter al.) the Army Officers' debts had been followed by another Act—11 Wm. III, c. 8, appointing Commissioners to state Army, Navy and Transport debts. Subsequently two extending Acts were passed early in Anne's reign, viz. 1 Anne, Stat. 2, c. 18, ‘for advancing the sale of forfeited lands in Ireland,’ and 2–3 Anne, c. 19, ‘for enlarging the time for purchasers of forfeited estates in Ireland to make the payments of their purchase money.’ The recital in the last of these Acts states that the greatest part of the said lands had been sold, but payments for them could not be immediately made because of the scarcity of money in Ireland. The time for payment was therefore extended. But at the same time the recital stated that the produce of the sales would manifestly not be equal to the total of Army [Officers'] debts and Transport Office debts for which debentures were issued or to be issued. The Act therefore prescribed that for a period of six months up to 25 December 1704 the debentures remaining unsatisfied should be registered and thereupon bear interest at 5 per cent. as from 25 Dec. 1701: and further that one year's interest should be paid at such registering.

The House of Commons did not vote any special Supply for the provision of this interest. But the Act in question provided that towards such payment of interest the Treasury should use certain funds already in sight, viz. (1) a sum of 9,717l. 3s. 0d. then remaining in the English Exchequer of moneys arisen from the forfeited estates in Ireland: (2) all moneys which should arise in the Irish Exchequer out of the 25,000l. intended to be raised on Lord Bophin's estate; (3) such further moneys as should arise in specie out of the forfeited estates in Ireland.

Under the South Sea Company's Act (9 Anne, c. 15, cl. 32) owners of Navy, Victualling, Transport or Ordnance debentures dated before 1711, March 25, were to be admitted as shareholders in the said Company for the value thereof with 6 per cent. interest from the above date if they carried interest and with a like interest for half a year only if they carried no interest. In accordance with this clause a number of 49 persons, proprietors of Army and Transport debentures, did so subscribe their debentures into South Sea Stock and had receipts given them for the principal sum with promise of a further share for the interest “so soon as the same could be computed.” Their various applications for such further shares proved unavailing and they accordingly brought a bill in the Exchequer in the name of John Long, merchant, one of their number, against the South Sea Company and the Attorney General and obtained a decree of the Exchequer Court directing the Commissioners [viz. the Directors of said Company] to compute the full interest due thereon, but the said Directors pretended that the commissions by which they acted [for taking subscriptions] were [then] determined and they could do nothing therein without further authority. The Queen signed a warrant for a new commission accordingly, but particular instructions were given that in drawing the said commission the Commissioners should not be impowered to compute the interest on Army and Transport debentures otherwise than with an abatement of one year's interest, notwithstanding that the aforesaid decree directs the full interest to be allowed.

The aforesaid proprietors thereupon petitioned the Treasury with the result stated in the Minute Book above. The original petition is contained in Treasury Board Papers, Vol. CLXIV, No. 9, and bears the endorsement
9 Sept. 1713.

Read: my Lord is of opinion that this ought to have had the determination of Parliament.

The Decree of the Exchequer Court referred to above is contained in Exchequer (King's Remembrancer) Series IV (Decrees), Vol. XX, and is dated Serjeants Inn Hall, Fleet St., 6 Dec. 1712, and is signed by Sir Edw. Ward, Sir Tho. Bury, Sir Ro. Price and Sir S[alathiel] Lovell.

The whole episode is characteristic of Harley's administration of the Treasury. In this instance by a mere expression of opinion in the form of a Treasury minute he overrode an Act of Parliament and a Decree of the Exchequer Court which had been signed by four Barons of the Exchequer including the Chief Baron.