Minute Book
December 1709

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Institute of Historical Research

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Author

William A. Shaw (editor)

Year published

1949

Pages

34, 35, 36, 37

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'Minute Book: December 1709', Calendar of Treasury Books, Volume 23: 1709 (1949), pp. 34-37. URL: http://www.british-history.ac.uk/report.aspx?compid=90797 Date accessed: 21 October 2014.


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Contents

December 1709

Dec. 2, forenoon. Present: Lord Treasurer, Chancellor of the Exchequer.
[My Lord directs the issue to William Lowndes of] 500l. for secret service.
And[rew] Tailer is called in. He accuses the two supervisors of Deal and Rye for neglecting their duty, [to wit] Mr. Ellesden and Mr. Beal: [further he] says the officers under them have confederated with the owlers because of the said neglect; that he can detect Ellesden in many particulars. [My Lord directs that] he is to put his charge into writing. My Lord will put it into a way of examination and he [Tailer] shall have all the necessary assistance.
[My Lord orders] Mr. Borrett out of the money in his hands for law charges to pay to the Solicitor General 100 guineas and to his clerks 10 guineas for one year's [attendance on] business relating to the Commission for Trade. Ibid., p. 72.
Dec. 9, forenoon. Present: ut supra.
Mr. Brydges having represented to my Lord Treasurer in his memorial of this day's date that the Bank of England are willing to lend 20,000l. for the pressing service of recruiting her Majesty's Army in Flanders, upon [security of] a deposit of tallies on the General Mortgage for the present year and at 5 per cent. interest, to be repaid on loans that shall be made in money or Exchequer Bills on the Land Tax anno 1710, his lordship is pleased to agree thereunto. Ibid., p. 73.
Eodem die, afternoon. Present: Lord Treasurer.
[No entry of any minute.] Ibid.
Dec. 12. Present: ut supra.
The Gentlemen of the Bank are called in with Sir Henry Furnese. My Lord acquaints Sir Henry that some of the Gentlemen of the Bank having acquainted [struck through] being of opinion that it would be of service to the public and an ease to the Bank if they had the remitting of the next 300,000l. for the service of the Troops in Flanders his lordship desired to speak with them together to see how that matter could best be accommodated.
Sir Henry says he believes if the Bank would please to make their proposition it might be so turned as to answer their intent without being any prejudice to his affair [contract] of remittance.
Mr. Eyles says the Bank do propose to give bills for 300,000l. payable at Amsterdam for the service of the Troops in Flanders “at 3½ [months'] usance, 4 and 4½ [months] in equal proportions” at the rate of 9 guilders 16 stivers bank money for a £ sterling, and to receive their payment in Exchequer Bills.
Sir H[enry Furnese] thinks the rate not unreasonable and says he is willing to give them the like ease and accommodation in this proposition as he did in March 1707–8 by taking the bills they shall draw on Amsterdam for the said [amount of] 300,000l. which will be the same service to the Bank as if they remitted [the bills direct] and prevent the inconveniences that might happen to the public if the remittances for the Army were in several hands.
My Lord Treasurer approves of what is so offered.
Mr. Eyles desires that in regard the Bank are always ready to assist Sir H[enry Furnese] in his affairs for the public service he should do what in him lies to serve the Bank by keeping his cash there [with the said Bank].
My Lord says he thinks it very reasonable and Sir Henry assures his lordship he will always do so for the future.
Sir G. Heathcote presents a memorial from the Bank in relation to the Tellers of the Exchequer and others.
My Lord will speak with the Tellers here to-morrow morning. Ibid., pp. 74–5.
Dec. 13, forenoon. Present: ut supra.
[My Lord directs the] issue of 336,160l. to Mr. Brydges out of loans on the Land Tax anno 1710: to be accounted as part of 919,092l. 3s. 6d. allowed by Parliament for maintaining the 40,000 men anno 1710. Ibid., p. 76.
Dec. 14, forenoon. Present: Lord Treasurer, Chancellor of the Exchequer.
My Lord will appoint [an issue for] three months for the courses of the Navy, Victualling and Transports: out of loans on the Land Tax before Xmas; and the like out of loans on Malt presently after Xmas.
[My Lord directs] issues as follows out of loans on the Land Tax anno 1710:—
£ s. d.
to Mr. How for a month's subsistence to the Forces [Guards and Garrisons] under his pay 26,960 7 5
to the Treasurer of the Navy for the Yards for Michaelmas quarter 1708 57,892 0 0
[to ditto] for ships going to the West Indies 26,000 0 0
to ditto for recalls 3,000 0 0
to ditto for Parliament [Navy wage] tickets 6,000 0 0
to ditto to pay off ships 24,000 0 0
to ditto for imprests and bills of exchange [on the head of] Wear and Tear 10,000 0 0
to ditto for recalls: [to be issued by] 3,000l. a week for 19 weeks commencing the 22nd inst., viz. for the course of the Navy for three months to May 1707 inclusive, the 40,000l. advanced by the Bank being included 142,561 0 0
[likewise for three months] for the course of the Victualling from 24 Feb. 1706–7 to May 1707 inclusive 133,854 9 2
to the Treasurer of the Transports for three months on the course to May 1707 inclusive 44,083 9 10
£474,351 6 5
Treasury Minute Book XVII, p. 77.
Dec. 20, forenoon. Present: Lord Treasurer, Chancellor of the Exchequer.
Mr. Brydges and Sir Henry Furnese are called in. Sir Henry says Mr. Brydges makes difficulty to take his bill at 10 guilders 3 stivers in lieu of those agreed by the Bank to be given at 10 guilders 6 stivers. He says the reason he gives his bills for no more [no higher exchange rate] is that they are payable at 10 and 15 days' sight [whereas those of] the Banks [are] at 4 [months'] usance: and besides his bills are upon account.
My Lord says he thinks [struck through] orders Mr. Brydges to take the bills drawn in that manner from Sir Henry and at the same time directs that Mr. Brydges should examine the several accounts of the bills given by Sir Henry since he [Brydges] has been Paymaster [of the Forces Abroad] and lay a state thereof before my Lord as soon as conveniently he can. Ibid., p. 78.
Dec. 21, forenoon. Present: ut supra.
[My Lord orders that] the Exchequer Bills for last year's interest on the Transport [debt] debentures are now to be issued.
The gentlemen of the East India Company are called in. My Lord proposes to them to accept their payment, for the saltpetre which they are now to deliver, in [the form of] tallies on the General Mortgage in the hands of the Treasurer of the Ordnance.
They say they are afraid they [the said tallies] are [on] so remote [a fund or so remote in their course on that fund] that their Court will not think fit to accept of them, but they will consult the Court to-morrow and give my Lord their answer. Ibid., p. 79.
Dec. 24, forenoon. Present: Lord Treasurer.
[My Lord directs the issue out of Civil List moneys of] 1,000l. for secret services: on Mr. Lowndes's [unsatisfied] order.
Col. Hunter, Governor of New York, who takes with him about 3,000 of the poor Palatines, having prayed to be supplied with a credit there for the value of 8,000l. for subsisting and settling of them upon their arrival in that Colony; and being desired about two days since to enquire at what rates [of exchange] and in what manner the same could be supplied and to lay a proposal thereupon before the Lord Treasurer, he did this day attend with Mr. Perry a merchant who made a proposal to my Lord Treasurer in writing dated the 23rd inst. for furnishing the said credit; which was read, considered and approved of by my Lord as follows, viz.
Micaia (Micajah) Perry and Company propose to furnish good bills or letters of credit payable at New York to his Excellency Col. Hunter for value of 8,000l. sterling payable within three months after his arrival there, 1,000l. at 10 days' sight, 1,000l. at 21 days' sight, 2,000l. at 30 days' sight, 1,000l. at 40 days' sight, 1,000l. at 50 days' sight, 2,000l. at 60 days' sight and to allow 50 per cent. exchange for the same by paying at New York 150l. of the money current there for each 100l. sterling paid here:
and for receiving the said sum of 8,000l. here they humbly desire a Treasury minute for payment as follows, viz. 2,000l. on April 1 next, 2,000l. on May 1, 2,000l. on June 1 and 2,000l. on Aug. 1.
Ibid., p. 80.
Dec. 29, forenoon. Present: [no name].
Mr. Hopkins is called in. He moves my Lord Treasurer in behalf of Mr. Barnes [for the latter] to be Receiver of the Land Tax for co. Warwick in the ensuing year [1710].
My Lord acquaints him that he is engaged at the instance of the Chancellor [of the Exchequer] and Sir Richard Temple for one Claridge [for the said place of Receiver] and asks Mr. Hopkins if there be any particular objection against Mr. Claridge. [If so] his lordship will acquaint Sir R. T[emple] with it and hear the matter if desired.
Mr. H[opkins] says about four years since he [Claridge] was either indited when High Constable for defrauding the petty constables or else he was turned out; which he thinks is a material objection to him.
Mr. Brydges is called in and represents to my Lord Treasurer that there is a very pressing occasion for a considerable sum of money for the pay of the General Officers, for payment of bills of exchange and for recruits; and having proposed to my Lord the borrowing of a sum of 70,000l. from the Bank for these services on a deposit of tallies on the General Mortgage anno 1709, my Lord is pleased to agree that if the Bank will advance the said sum for the services aforesaid upon the said deposit they shall be repaid with 6 per cent. interest and the repayment shall be in money or Exchequer Bills within the space of two months from the time of advancing. Ibid., p. 81.
Dec. 30, forenoon. Present: Lord Treasurer, Chancellor of the Exchequer.
[Send] to the Agents for Taxes to be here to-morrow morning about 12 o'clock concerning Receivers that do not transact [the remittance to London of their collections to or] by the Bank “and take notice that their [the said Receivers'] agents bring small trivial sums only to be paid into the Exchequer by the Bank.” Ibid., p. 82.