*Now for the disposal of the money: I approve of the £8000 mortgage on Buriton; and honour your prudence in not showing them, by the comparison of the rent and interest, how foolish it is to purchase land.* If you can obtain from Lord S[tawell] the four and a half, tant mieux. In case you cannot, I will suggest an odd but I think a rational scheme. Let four and a half, or rather five per cent. be stipulated in the mortgage deed, with a proviso in a separate act that, as long as the interest shall be paid on or before the day appointed, I will be satisfied with four per cent. As long as Lord S. is punctual (and this will be a stimulus) he will pay no more; and should I ever be forced by his neglect to transfer the mortgage, which will, I suppose, be in my power, I shall easily find a substitute at the advanced interest. For how many years do I lend? Do I reserve a right of putting in my own receiver? Six thousand more will be vested in the three per cents, and if Mrs. G. chuses them, that sum will not be too large a basis for her jointure of £200 a year. The additional hundred which I pay her is a separate account. The remainder, between two and three thousand, may be trusted to private security.
Did you wish for the whole, or part, or more? it is perfectly at your service; but as you are indifferent, I write to you in the third person.
"I have some knowledge of the Lord Sheffield whom you mention, and though he is poor, I believe him to be honest, and I should therefore prefer his four and a half regularly paid at Gosling's, without trouble or application, to a more doubtful five per cent. which might perhaps be found on bond security."
But I had rather wait some weeks before I absolutely determine, as *there is a chance of my drawing the greatest part of the sum into this country, for an arrangement which you yourself must approve, but which I have not time to explain at present. For the sake of dispatching, by this evening's post, an answer to your letter which arrived this morning, I confine myself to the needful, but in the course of a few days I will dictate to Severy a more familiar Epistle. I embrace, &c. Adieu. Ever yours.*
543.
To Lord Sheffield.
Lausanne, July 14, 1789.
DEATH OF DEYVERDUN.