Treasury Calendar: June 1696

Calendar of Treasury Books, Volume 11, 1696-1697. Originally published by His Majesty's Stationery Office, London, 1933.

This free content was digitised by double rekeying. All rights reserved.

'Treasury Calendar: June 1696', in Calendar of Treasury Books, Volume 11, 1696-1697, (London, 1933) pp. 21-34. British History Online [accessed 25 April 2024]


June 1696

June 2,
Present:—Lord Godolphin, Mr. Smith.
The Commissioners for the National Land Bank come in about their proposals. Lord Godolphin says though they [the two Treasury Lords] are not a [quorum sufficient to constitute the meeting a] Board it may not be improper to put them in mind of what answer was given them by the Lord Justices in Council on Saturday last [to wit] that their Lordships did not think fit to give the Treasury any directions to receive part of their [the Land Bank] subscriptions in clipt money but did recommend it to their Lordships to give them [the said Bank] all other reasonable encouragement that can be desired; which his Lordship [Godolphin] says he and the rest of the [Treasury] Board are very ready to do: and therefore desires them wholly to waive their first article and not to discourse any further upon it. But if they please, his Lordship is very desirous (though there be not a Board here) to discourse of the other articles so as his Lordship and Mr. Smith may be able to-morrow to report to the rest of the Lords what they insist upon and likewise that the gentlemen attending may be able to inform their Committee to-morrow of what may be said by their Lordships though there can [to-day] be no resolutions, for want of a Board.
Sir Thomas Meeres says he does not find by the Commissioners here present that they can go off from the first article of their proposal; but if they do they have nothing new to offer at present more than is contained in the following [or succeeding] articles of their said proposal.
Lord G[odolphin] says their Lordships cannot proceed any further on that article for clipt money, but if they will offer anything further he is ready to hear them: but as to the first article let the consequence be what it will their Lordships must abide by the judgment of Lords Justices after their Excellencies [the said Lords Justices] have given them so clear an answer in it.
B [the Land Bank people reply the] Lords Justices did not give their Lordships a positive direction not to permit any of their [the Land Bank's] subscriptions in clipt money and they think it is in the power of the Treasury to give them that encouragement without direction from the Lords Justices.
Mr. Smith. You have been told plainly by their Excellencies that they do not think fit to give this Board any direction in that matter, and shall the Treasury after that take upon them to determine it of themselves ?
B [the Bank people say] their Counsel advise they [the Treasury] may do it.
L[ord Godolphin says he does] suppose it easy to get such an opinion of any Counsel for a five guinea fee; and though it may not be against law yet from the many inconveniencies that may and will arise from it they [the Treasury Lords] cannot in point of discretion admit thereof.
The clause is read out of the Act about diminishing the money given by the Act whereupon the Lords say they think taking of clipt money may be against the [said quoted] law, at least the intention of it.
B [the Bank people say] that they have not been superficial in taking advice upon the Act, and Mr. Sergeant Pemberton after consideration thereof has given his opinion [that] clipt money may be received: [they further say] that their zeal for the public service made them propose such ways for promoting the intended Bank as they thought would give the best encouragement and that article being in their judgment the chiefest is the reason they have insisted so long upon it and without that encouragement they fear it cannot be a Bank.
L[ord Godolphin says] the Lords Justices and Council have interposed in this matter and in a manner [have] forbid them [the Treasury Lords to accept this article] but have given their Lordships directions to give all encouragement to the other proposals, which [accordingly] they will pursue and are ready to go on with 'em.
B [the Bank people say] if the [subscription] books are to be laid open on Thursday next it is fit the subscribers should know what encouragements will be offered the subscribers.
L[ord Godolphin says my Lords] think that so reasonable they would not sleep till it were done: that allowances were made [relating to the subscription] to the former Bank [of England] and a further encouragement ought to be given to this in consideration of the present difficulties and [that my Lords] propose an allowance in proportion to the degrees of time and earliness of subscribing.
B [the Bank people say] people will expect a greater premium [or discount than in the case of the subscriptions for the Bank of England] because of the great allowance for guineas by the exchange in Holland and of silver in proportion.
L[ord Godolphin says] they must not expect an allowance proportionable to the illegal advantages that are made by exporting guineas and bullion contrary to law.
B [the Bank people say they] desire to know what allowances will be given to the other payments after the first for the encouragement of the subscriptions.
L[ord Godolphin says my Lords] think it no proper time [to provide] for this matter, because they don't know when the money will be called for: that they may be sure the occasions of the Government will require it before the days of payment mentioned in the Act; so that their Lordships will be in the power of the Corporation and not they in their Lordships'.
One of the B[ank people] says they have it in their thoughts to advance two payments at once.
My Lords say it will be a very acceptable service and desire 'em to forward it, promising a suitable encouragement.
As to their proposal of taking Bank Bills [in subscriptions] my Lords say that if the Bills cannot be received by those who have them how shall they become effectual to their Lordships and supply the soldiers with subsistence?
B [the Bank people say] this [proposal] will support the credit of both Banks and though not [equivalent to] ready money will be a sort of payment and must be looked upon as such though not deserving the same encouragement [by discount] yet in proportion ought to have an allowance [of discount] because they pass as money and there is but 5 per cent. difference between Bills and money in exchange [quotations]. They desire that a mill may be assigned 'em in the Tower for the coining of the plate they shall bring in.
[My] Lords ask whether they mean another mill than what is already set up there for the coining of plate.
B [the Bank people] say they mean no other.
They move that clipt money may be taken in by warrant as bullion and an allowance to be made for it as for wrought plate: that this proposal is intended as an alternative for the first article, without which they do believe they cannot become a Corporation; and if 30 per cent. be allowed they think it will do: that they intend to lend the Country gentlemen money on their land at 3½ per cent., who have furnished great sums to this Government and therefore will deserve great encouragement.
As to their proposal of taking their Bills instead of money when they are a Corporation they then shall have the money in their hands to answer their Bills and it shall be paid immediately when required: but it will procure 'em a credit and no doubt but some of the money will stick and remain with them.
They propose the taking of Goldsmiths' Bills [by way of subscriptions] and desire my Lords will let 'em know whose [in particular among the existing Goldsmiths of London] may be taken.
My Lords [tell them they] cannot give an answer in this matter but leave it to them.
My Lords recommend it to the Commissioners [for taking subscriptions for the National Land Bank] to encourage the subscriptions all they can whether [its floatation succeeds as] a Bank or not a Bank; and as their Lordships think themselves obliged to give all the encouragement that is reasonable [in order] that nothing may be wanting in them towards supplying the Government and removing the difficulty it now lies under, so the Commissioners [on their part] are bound to do all they can in this function to make it easy to the Government [so] that nothing may be objected on their parts. Treasury Minute Book VIII., p. 313–4.
June 3,
Present:—Lord Godolphin, Chancellor of the Exchequer, Mr. Smith.
Mr. Knight and Mr. Burton are called in. My Lords desire them to use their endeavours to furnish 4,000l. forthwith for furnishing bills from Flanders due the 6th inst. and 6,000l. more for bills drawn on Sir William Gore from Hamburg payable the 14th inst.; and to see at what rate they can procure the 200,000l. worth of bullion which is allowed to be exported for the Army or any part thereof [to wit] to be repaid at 2 or 3 months hence: which they promise to do.
[Send word to the gentlemen of the] Bank of England to be here on Friday morning.
[Send to the] Governors of the Post Office to be here this afternoon.
[My Lords order] Lord Oxford to have a dormant warrant for his 2,000l. per annum.
[The gentlemen of the] National Land Bank come in and present their memorial, which is read, wherein they entirely submit for my Lords' directions in all things relating to the subscriptions; alleging that they had already proposed what they conceived might conduce to the perfecting the intended Bank; and because their books are to be opened to-morrow they desire my Lords' directions this day.
My Lords say this proposal is general and that they expected they would have brought some scheme of encouragement for prompt payment as was done by the other Bank [the Bank of England].
[In reply they] say they have represented to the Committee the discourse had [with the Treasury Lords] last night, who are of opinion that the making the first payment in clipt money would be conducing to the making of the Bank and a service to the nation in easing them [it] of the clipt money.
My Lords [reply that they] can give no other answer to the first article then has been already given.
[The gentlemen of the] B[ank reply] the Committee are of opinion that without the first article being allowed the Bank cannot succeed.
My Lords read the second article of the first proposal relating to an advance of 10l. per cent. for prompt payment and ask how the [gentlemen of the] Bank understand that, whether at the rate of 10 per cent. for what they shall pay before the days required by the Act ? Some answer "Yes," others say "No," that they mean 10 per cent. upon all the money they pay [even] though [paid] upon the very days the Act directs.
My Lords [reply that] the Commissioners have not power to discourse about any allowances [? until] after the first payment when they are a Bank for then the Corporation must treat with them: and [therefore my Lords] desire they will return and explain this Article against the evening, and likewise propose such gradual [proportional] encouragement for subscriptions as was done by the Bank of England. Treasury Minute Book VIII., p. 315.
Eodem die, afternoon. Present:—All the 5 Lords.
[The Commissioners of the] National Land Bank [are called in and] present a proposal for encouragement to subscribers, containing five articles, the first being for an allowance of discount for prompt payment [ranging] in degrees from 15 to 5 per cent.
My Lords observe that it is very extraordinary and though they cannot but think they will deserve a much better premium than the Bank of England in regard of the greatness of the sum and the difficulty of raising money yet they think they durst not venture to dispose of so considerable a part of the fund as that encouragement would amount to, for prompt payment: and that they supposed 5 per cent. would be an encouragement: and that they will represent it to-morrow morning to the Lords Justices and Council, it being a matter too great for my Lords to determine: and they desire them to attend then. Ibid., p. 316.
June 5. Present:ut supra.
[My Lords direct] Mr. Killigrew to have 300l. out of seizures, next after the sums already charged thereupon shall be paid off.
[Send a] letter to the Commissioners of the Glass Duty to appoint Mr. Crompton a surveyor of that Duty.
[The gentlemen of the] Bank of England come in and present to my Lords an account of the last million of florins remitted to Flanders, amounting to 106,638l. 18s. 10d., to which account my Lords agree. They acquaint my Lords that this money has been actually paid without one farthing profit and hope my Lords will think they may deserve 2 per cent. encouragement.
My Lords say they shall be considered and desire the Bank to rely upon them for it.
The Bank present to my Lords another memorial proposing the conditions for remitting another million of florins, which they say upon calling a Court [of the Directors] they have agreed upon.
My Lords consider the several articles thereof and upon the whole conclude [agree with them that] they shall have tallies forthwith put into their hands for 110,000l. as a deposit for these florins till they shall be satisfied, which [satisfaction] shall be within the time mentioned, to wit the last of July. This [million] is to be remitted in the same manner the last was: and my Lords will afterwards consider them for the service herein and do desire them not to insist upon 2 per cent., but they shall be sure to be encouraged and rewarded to their satisfaction: and as for the deficiencies of the fund last year and the 1,682l. 5s. 7d. loss by exchange they shall have tallies as is desired.
Send a letter to Mr. Hill [to Holland] this night to acquaint him with this agreement and [request him] that he will adjust the exchange on the respective days on which he receives any part of the said [second] million of florins.
The Excise Commissioners and Mr. Story are to be here on Tuesday afternoon next. Ibid., p. 317.
June 6. Present:—Lord Godolphin, Sir Stephen Fox, Chancellor of the Exchequer, Sir Tho. Littleton.
Sir Joseph Herne is called in and is told that my Lords are informed he has several bills on the Navy and that though they cannot be paid in the time they become due they desire he will not let them be protested.
He says he has bills for above 7,000l. on the Treasurer of the Navy and 10,000l. on the Earl of Ranelagh; that they are all due and have been [due] some time; that he has not nor will protest any of them, but desires that tallies may be put into his hands for them and he will deliver them and when my Lords can pay he will re-deliver the same tallies: and he desires interest from the days the bills fall due.
[All] which my Lords think very reasonable and promise it shall be done. They further desire him to give the Bank Bills all the credit he can: which he says he will, and to the utmost of his power do his Majesty and Government all the service he can.
[Desire the] Navy Commissioners to attend on Monday afternoon.
[Desire also the] Governors of the Post Office to be here then.
[Send a] letter to the Customs Commissioners to give all encouragement to their officers who have or shall seize any gold or silver coin or bullion [which is attempted to be exported].
[My Lords read] Mr. Shea's petition [and order it] to be sent to Mr. Blathwayt to receive the King's pleasure thereon.
[The petition of the] bishop of Killaloe [is read and ordered] to be referred to the Lord Deputy of Ireland.
Papers [of petitions etc.] are to be read on Monday morning. Ibid., p. 318.
June 8,
Present:—Sir Stephen Fox, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
Mr. Balfour is to have 50l. as royal bounty as soon as money can be provided. Ibid., p. 318.
Eodem die, afternoon. The Navy Commissioners are called in. My Lords speak to 'em concerning the money due to Sir Henry Ashurst and Sir Stephen Evance for naval stores imported from New England.
They [the Commissioners] say if they [Ashurst and Evance] are to be paid as dealers with the Navy they must be paid in course but if as the King's merchants, if the envoyce be sent to them they will examine the same and make out an imprest bill for the stores; the gratuity to be considered afterwards by my Lords.
[My Lords direct] 2,266l. 13s. 4d. to be paid to the Treasurer of the Navy for Sir William Gore and Mr. Martin for the first payment on some new contract for hemp: [to be issued] out of the milled money proceeding from loans on the Act for prolonging the time for purchasing Annuities.
The Postmasters [General] come in and Mr. Lilly. My Lords ask whose tallies on the Post Office revenue are next in course to be paid. They say some in the hands of Mr. Frederick payable by 300l. a week, and 500l. a week to the Works. My Lords direct that such money being tendered them [the payees Frederick et al.] as is current by Act of Parliament, if they refuse it, the same is to be sealed up and laid by for them and the interest is to cease from the time the same was in course [for payment].
The Postmasters [General] say they caused the mail to be searched on Saturday but found neither gold nor silver.
Mr. Corbett is called in and is desired to use all the forbearance he can in calling for the money that shall from time to time be ordered for the Navy. He says he will and that the 10,000l. to be ordered for this week shall not be received till Saturday.
The Warden of the Mint and Mr. Hall present a memorial of the state and forwardness they are in for the Country Mints and the officers or deputies for the same.
The next time the [Privy] Council sits my Lords will desire the Lord Keeper to appoint a day for the Trying of the Pix, that it may be about the middle of next month.
[Send a] letter to the Lord Chief Baron to be here on Monday next in the afternoon about the privy seal relating to clippers' goods etc. Mr. Macy is to attend then. Treasury Minute Book VIII., p. 319.
June 9,
Present.—All the five Lords.
[Send] to the Jewel House to know what quantities of gold, silver and gilt plate remains in the Jewel House and how much of the King's plate remains in the hands of other persons who have received the same by indenture or otherwise from that office. This account [is to be ready] against to-morrow by 4 o'clock.
The Customs Commissioners are called in. They say they have taken care to enquire into and prosecute the frauds at Hull in shipping coals for Holland without paying so much as they ought for the oversea duty.
My Lords are of opinion that Pieces of Eight are not within the prohibition [of export as being comprised] under the names of molten silver or bullion: but [that they] may be exported.
Sir Thomas Cock and other Commissioners of the Land Bank desire a copy in writing of the order for an allowance of 5 per cent. He says there has been no more than 1,600l. subscribed since my Lords were at Exeter Exchange, and they have taken Bank Bills because they would not turn the subscribers away, and they pray direction whether they may take Bank Bills hereafter.
Lord Godolphin tells them they have no reason to doubt but the 5 per cent. will be made good to them. The Lords Justices [in Council] are [made] acquainted with it and did not think fit that allowance should be exceeded: and that my Lords will make good that which the Lords Justices and themselves have thought reasonable, to wit 5 per cent., which is double that which was given to the Bank of England.
The Commissioners of Excise and Mr. Story [are called in]. Mr. Story says two Excise accounts will as he verily believes be transmitted to the Auditor by midsummer day. He is directed and enjoined that these accounts be not delayed for want of hands to carry them on, and that he employ as many clerks as are necessary and keep an account of the charge; and my Lords promise satisfaction besides an additional encouragement to him.
Mr. Duncomb says 1,000l. was offered him to discharge Reynoldson and he proposes a prosecution should be made against him. My Lords direct Mr. Noel to take care of that.
Send to Mr. Attorney General to be here to-morrow afternoon. Ibid., p. 320.
June 10,
Present:ut supra.
Mr. Neal and Mr. Hall and Mr. Hoar, grandson of the [Mint] Comptroller, are called in. They present the accounts of the Country Mints which they have received from the country. They are to present [to my Lords the requisite number of] officers for these Mints.
Send to Mr. Knight and Mr. Burton to be here on Friday morning. Ibid., p. 321.
June 12,
Present:—Lord Godolphin, Sir Stephen Fox, Mr. Smith, Sir Thomas Littleton.
Mr. Knight and Mr. Burton [are called in]. My Lords ask them to raise 4,000l. in good money to pay bills of exchange drawn by Mr. Hill upon the Earl of Ranelagh and now due. They [promise my Lords they] will endeavour this afternoon to furnish 2,000l. in money and 2,000l. in Bank Bills, with which his Lordship will be contented.
[My Lords direct that] Mr. Lamb is to have 16,000l. in tallies on the Annuity Act, part of those remaining in the Earl of Ranelagh's hands: for the expense of the [Army] hospitals in Flanders.
Write to Mr. Blathwaite to acquaint him with what applications have been made out of the tallies that were reserved for the contingent uses of the war; and desire him to send a particular of the uses to which the rest of those tallies are designed; and acquaint him that the warrant signed by the King to pay to the ass[ignes] of the Duke of Holstein Gottorp the value of 25,000 crowns current money of Holland must be satisfied out of the remainder of those tallies, there being no other fund for them.
My Lords say that when they attended the Lords Justices on Wednesday last it was agreed that direction should be sent to the Receivers of the King's Taxes and Revenues not to be scrupulous in receiving such punchable money as the Act of Parliament describes and allows of: and that notice be given to the proper officers and Agents for [Taxes] to transmit those directions [to all the collectors etc.] as soon as may be.
Sir William Gore [is called in and] demands presently 6,000l., part of the money for 40,000 dollars paid to the Duke of Brandenburg. My Lords recommend it to Mr. Knight and Mr. Burton to pay this 6,000l. in Bank Bills and to [make allowance to Gore to] turn half those bills into money at the King's charge.
Send to Mr. Dodington and Auditor Bridges to be here in the afternoon with Admiral Russell's account.
Mrs. Caldwell [is called in and] says her father will give security for paying 400l. a year to Mrs. Bagnall and 100l. a year to Sir Gervaise Clifton for the interest of his 2,000l. and she desires that the King will grant him a clause of reprisals.
Send to the [Lord] Chamberlain to be here in the afternoon.
Mr. Neal, Mr. Shepherd, Mr. Duncomb and Mr. Hoar are to be here on Tuesday afternoon.
[Send word] to Mr. Montagu that my Lords will sit in the afternoon. Treasury Minute Book VIII., p. 322.
Eodem die, afternoon. Present:—Sir Stephen Fox, Chancellor of the Exchequer, Mr. Smith, Sir Thomas Littleton.
A letter is ordered to be writ to the Agents [for Taxes] and the public offices to direct the Receivers and Collectors not to be scrupulous in receiving such puncht money as the Act describes etc.
[My Lords direct the issue to the Navy Treasurer of] 10,000l. for wages: out of the new money of loans on the fourth 4s. Aid.
Mr. Neal and Mr. Hall [are called in. My Lords order that] what money Mr. Hall advances for setting up the Country Mints is to be repaid] (with allowances for advancing it) out of disposable money in the Pix box. Ibid., p. 323.
June 16,
Present:—All the five Lords.
[Send word] to Mr. Floyer to be here to-morrow morning Likewise to Mr. Russell, Mr. Papillon, and Auditor Bridges.
Wilfreind Phillips [is called in and] says that his brother having, as he is informed, offered 5,610l. for Sir John Freind's interest in the brewhouse and in goods in the house at Tottenham and in a jewel he will give that sum and 1,000l. more for those particulars exclusive of any other personal estate. He'll come again on Friday afternoon with sufficient persons to give my Lords assurance that this offer shall be complied with.
[Send] to Mr. Hendly to be here to-morrow morning.
Likewise to Mr. Fox and the Chamberlain.
[Write] to the Agents [for Taxes] to write to the Receiver General of Taxes for Essex to come up about an information that he receives clipt money for the taxes collected since the 4th of May.
Sir Gabriel Roberts [is called in and] says my Lord Paget was at expence to go from Constantinople to Adrianople about the King's affairs and not about the merchants': they [the merchants] never paid such expenses and he desires they may be satisfied by the King.
My Lords will represent this case to the King and receive his pleasure therein. My Lord [Paget] is uneasy for this money and the [Turkey] Company cannot pay it.
Mr. Duncomb [is called in with] Mr. Hoar, junr., Mr. Neal, Mr. Shepard and Mr. Selby. An indenture is read to entitle Mr. Hoar, the Comptroller [of the Mint], and Mr. Duncomb each to a quarter of the profits of the Master Worker of the Mint over and above the 500l. a year salary reserved to Mr. Neal; with an endorsement that Mr. Neal may dispose of the place [of Master Worker of the Mint on condition of] paying them at any time 1,500l. a piece.
Mr. Selby desires that the profits of the place may go according to that deed.
Mr. Neal says there was no trust, no consideration: he was forced to give that deed: his patent was in 1678, when he knew neither Hoar or Duncomb: there was a salary of 200l. a year [to three, including himself] as Commissioners of the Mint] and they [the other two] deprived him of his share; upon Slingsby's surrender [of the Master Worker's place], he had a lawful title to his place: they insinuated to him he was not fit for the place and should not have it unless he would let them have part of the profits: it could be no trust for he had his patent long before: they brought a deed ready written but he would not seal it till the endorsement was made, which imports it a mortgage, and it is all satisfied.
Mr. Duncomb says the consideration was money lent. My Lords leave it to the law. Ibid., p. 324.
June 17,
Present:—ut supra.
[Send] to Admiral Russell, Mr. Bridges and Mr. Papillon to be here on Friday afternoon.
[My Lords request] Mr. Bartholomew Burton to make a fictitious loan of 35,000l. on the 6,000l. per week of the Hereditary and Temporary Excise; and of 15,000l. on the 600l. per week of the revenue of the Post Office; and to reserve the tallies [of loan] in his hands for such use as my Lords shall appoint.
[My Lords direct that] out of the first money coming to the Earl of Ranelagh's hands for English subsistence some money is to be applied for subsisting Col. Mordant's Regiment at Jersey.
[Send] to Mr. Knight and Mr. Burton to be here to-morrow morning.
[Send] to the Earl of Ranelagh to satisfy Machado's warrant for 364,094 guilders 15 stivers, amounting to 36,409l. 9s. 6d.: to wit out of the tallies reserved in his hands for contingencies of the war.
[My Lords order] Mr. Henry Baker and Mr. East to be Solicitors of the Treasury for revenue affairs only. Ibid., p. 325.
June 19,
Present:—Sir Stephen Fox, W. Smith, Sir Thomas Littleton.
[Send] to the officers of the Exchequer to be here this day week about fees [on moneys paid] for the rewards upon the Proclamations.
[Send] a letter [of direction to the Auditor of the Receipt] to issue out of the loans on the Exchequer in general 6,000l. to the Earl of Ranelagh; to be paid to Sir William Gore in part of 40,000 dollars remitted to Hamburgh for the Duke of Brandenburg.
Sir John Fleet and others of the East India Company [are called in]. He says they have delivered 3,000 barrels [of salt petre] which is a moiety [of their contract] and shall soon deliver the rest: and they have been able to discount only 1,000l. upon their tallies.
My Lords will speak with the [Principal] Officers of the Ordnance to know what further tallies are in their hands.
Mr. Tomlyson [being called in] says Dawson made an agreement with Mr. Redman for the place in the Alienation Office for 500l. and that he the said Tomlynson paid 300l. of the money and Dawson gave Redman a security that he should enjoy it 4 years and he [Tomlynson], was witness to the articles.
Mr. Molyneux says Redman owned to him he had bought the place entirely. Redman is dead.
Send to widow Redman living in Carter Lane near Doctors Commons to be here on Tuesday afternoon.
[My Lords order] Mrs. Ellinor Wrenn to have 40l. out of the 1,000l. for widows.
[Send] to Mr. Attorney General, Mr. Nicholas Baker, Mr. Henry Baker, Mr. East and Mr. Aaron Smith to be here on Wednesday afternoon. Ibid., p. 326.
Eodem die, afternoon. Present:—All the five Lords.
Sir William Scawen and other gentlemen of the Bank [attend with a desire for payment] of the first 50,000l. of the first of the 2 sums of 100,000l. each. My Lords [tell them] they are endeavouring to provide money for that.
Send to Sir Robert Howard to certify the deficiency of the [receipts from] the Tonnage Act for the time between the 1st Jan., 1695–6, and the 17th May, 1696.
Send to Mr. Fitch the weigher of the Mint to be here on Tuesday afternoon.
Admiral Russell, Auditor Bridges and William Papillon [attend concerning the Admiral's account of his Mediterranean victuals]. An account stated by the Auditor is read which makes the balance due from the Admiral to the King to be less than it would be by his own account exhibited by himself.
Sir Thomas Cook and other Commissioners for the new Land Bank inform my Lords that 500l. is subscribed over and above the 1,600l. before represented to my Lords.
My Lord Godolphin says that if the encouragement given has had none other effect they must submit to it.
They desire 1,000l. towards the charges. My Lords desire an account of them.
Wilfreind Phillips [is called in and] says Sir Thomas Cook and Mr. Cash will be here on Tuesday to pass their words [guarantees] that he [Phillips] will perform his contract with my Lords. Mr. Windham says Mrs. Ringall is reported a rich woman and Mr. Martin Ringall has a good estate in land. Treasury Minute Book VIII., p. 327.
June 23,
Present:—ut supra.
My Lords will pay the allowance to the Vice Chancellor [of the Household] to Michaelmas last as soon as they strike tallies for the Civil List.
[My Lords direct] 23l. 2s. 6d. for engraving the plate for the Exchequer Bills: to be paid out of secret service.
The Excise Commissioners complain that in the letter of summons from the Commissioners of Appeals in Excise these words and the witnesses' are interlined after the letter was signed. Send to the Commissioners of Appeals in Excise to be here on Friday afternoon.
[My Lords order] Dr. Davenant to be made a Surveyor General of the Exchequer [sic for Excise] by a deputation from the Excise Commissioners. But my Lords will speak with the said Commissioners on Friday afternoon.
And my Lords will speak with the Customs Commissioners at the same time about Mr. Culliford.
[Send word to] Mr. Duncomb to be here to-morrow morning.
Sir Joseph Tyly is called in about settling a fund for a credit by [or on the collateral of] Exchequer Bills [for the expenses of the Mint] at Exeter. He will endeavour to raise 10,000l. for that purpose and my Lords will allow 5 per cent. to enable him to do it or proportionably for a greater or lesser sum.
My Lords will recommend it to the [King's] Receivers to give all possible countenance and currency to the Exchequer Bills of Credit.
My Lords will recommend it to the Postmasters [General] to settle a post between Exeter and Bristol to go through Tiverton, Cullompton, Wellington, Taunton and Bridgwater.
The King to be at the necessary expense of carrying on the credit [necessary for the expenses of the Mint] at Exeter.
Lord Lucas and the [Principal] Officers of the Mint [are called in]. Lord Lucas says on Saturday at 9 at night the Moneyers and other officers of the Mint were gone and there was a great smoak in the Nealing House and upon search there was found a log and saw dust burning; and he thinks it will be as well to open the Tower gates at 5 it being a great hardship on him to do it sooner and the men do not come so early or they go out again.
[My Lords decide that] Lord Lucas is to cause the gate to be opened every morning at 4 and if they do not come by that time they must be reprehended.
Desire my Lord Chief Baron to be here this day week in the afternoon.
Wilfreind Phillips will pay his money for Sir John Freind's estate in Bank bills or (if my Lords will) in new money or in guineas.
Nathaniel Phillip insists to have the grant to him to be made of the whole personal estate of Sir John Freind. Wilfreind Phillips will go to Norwich and in a month's time procure the payment of half in money and [give] security for the rest [to be paid] in a month after the grant [be] passed and will send a certificate from the Mayor, Mr. Blofield and Mr. Gardner within 14 days of the security that is to be given and of their approbation thereof and of his sufficiency to perform this bargain.
[My Lords order] Sir Henry Ashurst and Sir Stephen Evance to have their Navy bill and a reward of 10 per cent. out of loans on the 4s. Aid. Ibid., pp. 328–9.
June 24,
Present:—ut supra.
[My Lords order] Mr. Lowndes to accept the two bills from Mr. Robinson; but to write to Secretary Trumball that money is so scarce that my Lords desire him to write to Mr. Robinson to forbear to draw any more till further order, my Lords being unable to pay the bills drawn by Mr. Hill for subsistence for the army in Flanders.
Sir John Banks and Sir Joseph Herne [are called in]. Sir John proposes [that] when he receives his money on the tallies in a near course [of payment] at the Excise Office he will furnish the King with 10,000l. out of the same. Sir Joseph will see what tallies he has and how he can assist the King with them.
Send to Mr. Burton to be here in the afternoon.
[My Lords direct] 10,000l. out of new money of loans on the fourth 4s. Aid but [order Mr. Lowndes] to write to the Navy Board to know what will be due to the Navy for wages at Michaelmas next. Ibid., p. 330.
Eodem die, afternoon. Present:ut supra.
The Attorney General [is called in]. He'll come again on Friday afternoon.
Mr. Aaron Smith [is called in] to know the pleasure of my Lords as to his place. My Lords tell him they could never get his accounts.
My Lords deliver to Sir Robert Howard, [the Auditor of the Receipt] the plate for [printing] the Exchequer Bills: my Lords think it will be proper for him to have a press in the Exchequer to print those bills. The seal must be delivered to Sir Robert.
Mr. Butler and Mr. Pauncefoot (altered to) others [are called in] on the proposal to obtain payment of 26,758l. 10s. 45/8d. the Irish arrear. My Lords propose that they shall have Exchequer Bills for this without interest [on condition of their] advancing 40,000l. upon the like bills with interest, but all the Bills to be deposited in Mr. Fox's hands till 1st January next. They'll come again on Friday afternoon [to give my Lords of their answer to this proposal].
[My Lords order] Mr. Burton to charge his Teller with 25,000l. more loans on the Excise to-morrow; and to do the like for 75,000l. more by [instalments of] 25,000l. at a time; [to rank] after 100,000l. directed for the Civil List. Treasury Minute Book VIII., p. 330.
June 26,
Present:—Lord Godolphin, Sir Stephen Fox, Chancellor of the Exchequer, Sir Thomas Littleton.
My Lord Carlisle will be here on this day week in the afternoon. [Send] to Mr. Fergus Grahame to be here then.
The Customs Commissioners will be here on Tuesday afternoon next.
[My Lords order] 100l. to be paid to Capt. Cartwright for arrears of pay in Sir John Jacob's Regiment: [to be issued] out of the tallies on Continued Impositions which were reserved for contingencies of the war.
The Excise Commissioners are called in. My Lords recommend it to them to direct their officers to take such money as the law intends should be taken, there being many complaints from the country.
[Send word] to my Lord Ranelagh to discount the tallies in his hands for the contingent uses of the war, to wit sufficient to discharge bills drawn on his lordship by Mr. Hill and now due for 11,660l.
The Commissioners of Appeals in Excise are called in about words interlined in a summons. Sir William Honywood says Mr. Baker demanded summons for the witnesses and at his request the words were interlined and that the words were not in when Mr. Lock's hand was set to it. Sir William says the opinion of the King's Counsel was that the witnesses should be heard again.
My Lords think the interlineation irregular.
[Send] to Mr. Rotier that Mr. Harris may have the use of the great press in his [Rotier's] custody as often as the Warden to the Mint shall direct.
If Mr. Hall will furnish 300l. more for the Mint my Lords will satisfy him for the advance. Ibid., p. 331.
June 30,
Present:—All the five Lords.
The [Principal] Officers of the Ordnance [are called in]. Sir Henry Goodrick says they cannot discount their tallies under 18 per cent. to remit money into Flanders and they desire that it [such discount] may be allowed by the Auditor.
My Lords [reply that they] will give warrant for so much as has been done of that kind.
They inform my Lords there will be occasion to raise a great sum for the service in Flanders.
My Lords agree to their raising 5,000l. on their tallies at such discount as the same will be done for.
Mr. Duncomb informs my Lords that the county of Beds is in bad circumstances about the money and the officers of Excise have given occasion for it by refusing money never clipt, some of which he now shows.
[My Lords instruct him that] if the officers persist in that practice, having a direction to the contrary, he will represent it to my Lords.
Mr. Abbot is desired to take care that Mr. Hill's bills be not protested and rather than to suffer that [he is] to raise the money on any [rate of] discount.
[Send] to the Exchequer for an account of the payments [made into the Exchequer] on the fourth 4s. Aid by every Receiver General.
[Send word] to my Lord Bath that notwithstanding that the King's pleasure has been signified to him to keep St. James's Park according to the Queen's former direction yet my Lords (which they are very sorry to see) find it is in a very bad condition and desire him to cause the orders to be better observed.
Send to the Postmasters [General] to be here this afternoon.
Sir Joseph Tyly is [directed] to raise the money upon Bank Bills (to carry on the credit at Exeter) upon such discount as the money can be procured for, and to change his tallies on the Land Tax to obtain such Bank Bills.
Send to Sir William Scawen to be here this afternoon.
The Agents [for the Irish Arrears] will advance the 40,000l. by the 1st of August [on condition and in order] to have the Irish arrear paid. [They are] to have interest for the 40,000l. from the date [of advancing] and no interest for the [Exchequer Bills in settlement of the said arrear or] debt until the 1st of January next. The 40,000l. is to be paid by 10,000l. a week. Ibid., p. 332.
Eodem die, afternoon. Present:ut supra.
Send to the Excise Commissioners to be here on Friday afternoon about employing Dr. Davenant.
Send to Alderman Duncomb to be here [then].
The Customs Commissioners are called in. My Lords propose the employing Mr. Culliford. Sir Robert Southwell says they were of opinion against it in a former report but now for his [Southwell's] part he has a great deference to my Lords' opinion for employing him.
Mr. Godolphin says he thinks he may be employed to the advantage of the revenue but he does not know in what capacity my Lords intend him.
Their [the Customs Commissioners'] report of 25 Oct., 1694, is read.
Sir W. Young says in a former survey made by Mr. Culliford good officers were put out to place others less deserving in.
Mr. Chadwick thinks the power will be too great.
Lord Godolphin thinks a riding surveyor will be able to do more good than a Commissioner of the Customs [could if] sent out [from London].
Mr. Clerk says he never knew any benefit by former surveys.
The Commissioners generally say they have not altered their opinion [as given] in their former report.
Mr. Godolphin thinks he [Culliford] may be well employed in London port, particularly in prosecuting debts etc. and in overseeing the officers below stairs, inspecting frauds about debentures and prosecuting the same; and he can propose many other things if he hath time to propose them.
Mr. Chadwick says as to debts the present prosecutor should be heard if any failure [be alleged and] as to debentures Mr. Williamson has made a proposition which he (Chadwick) thinks should be first heard.
The Chancellor [of the Exchequer says that] if there is any occasion in the revenue for an experienced officer the Commissioners should let my Lords know it, my Lords having a good opinion of Mr. Culliford.
Mr. Godolphin says Williamson sold his place a year ago and now would have another for nothing with 400l. a year.
My Lords recommend it to the Commissioners to take care that the past frauds about debentures be detected and future frauds therein prevented.
The Auditor and Mr. Fotherby to be here on Friday afternoon.
The Commissioners for Sick and Wounded have liberty [from my Lords] to raise money by discount on their tallies to carry on the necessary service of their office. Treasury Minute Book VIII., pp. 332–3.