The aim of Transcribe Georgian Papers is to produce useable text documents of the manuscript materials and not critical editions. Please be aware this document may contain errors in the transcription.
Found an error? Please report errors and issues in the transcription to transcribegpp@wm.edu.
On the 20th of Sept. 1720. I receiv'd a letter from the Dutchess of Kendall wherein she acknowledges the receipt of my letter with the amount inclosed, which she says the King had seen, and was very well satisfied with the manner that placed it, but wou'd have me dispose of the Stock the first opportunity. The price of the Stock, the day I receiv'd this letter; was 900 percent or under; but so great was the confusion, and so difficult & uncertain were all contracts at that time; and the Eyes of all people so intent upon me, especially after the contract with the Bank, that I cou'd not dispose of them without increasing the publick glamour upon myself, or without prejudice the Kings affairs; and so the stock remain'd unsold, till the Kings return. Upon his majesties return, I acquainted him with the state of this affair, and pay'd him the produce of the Land tax tallies, amounting to the Sume of £36,558:00. The S. Stock bought with part of the slide 106400 was trasnferd to Sr. Charles Vernon of Farnham in trust for the King. Remaind in his hands till the hire that the value of it was paid to Sr. Robert Walpole for the kings use, as it may appear by the Receipts I have to produce and by Sr. Charles Venon's account hereunto annext, and allso by the [[deletion]] receipts [[/deletion]] [[deletion]] I have to [[/deletion]] Company Books, where it will appear, to have remained to Charles Venon name all that time. As to the Sume of 25000 paid to the subscription, I believe it was turn'd into Stock for the Kings use, and if it remains there yet, it will amount (as the Stock is now valued) with all the dividends since to the sume of 19000. and the value of the 600 S. Stock sir Charles Venons name with all the dividends upon it as it was paid to Sir Robert Walpole about the 10th Feb 172 1/2 amounted to £9746. All which Sumes make £65,304 so that the los upon the Stock & Subscriptions was £41,096. But the gain upon the whole transaction was £45,304 clear of all deductions. It will appear by the receipts and accounts and by the Company Books that this 6000 S. Stock bought for his Maj.ty was never sold, but was originally transfer'd to Sir Charles Venon as soon as the books were opened and continued in trust for the King in Sir Charles Venon's name, 'till it was paid to Sr. Robert Walpole, as Sir Charles Venon is ready to attest upon oath when requir'd. As to any objections made to the account, I can't imagine what they are: for my receipts will prove that the stock was actually bought and [[underline]] paid for at a time. [[underline]]
