LETTER TO HIS SON
I may as well now tell the story to the end, though in anticipation of remote dates, for in truth it held a marked place in Mr. Gladstone's whole life, and made a standing background amid the vast throng of varying interests and transient commotions of his great career. Here is his own narrative as told in a letter written to his eldest son for a definite purpose in 1885:—
To W. H. Gladstone.
Hawarden, Oct. 3, 1885.—Down to the latter part of that year (1847), your uncle Stephen was regarded by all as a wealthy country gentleman with say £10,000 a year or more (subject, however, to his mother's jointure) to spend, and great prospects from iron in a Midland estate. In the bank crisis of that year the whole truth was revealed; and it came out that his agent at the Oak Farm (and formerly also at Hawarden) had involved him to the extent of £250,000; to say nothing of minor blows to your uncle Lyttelton and myself.
At a conversation in the library of 13 Carlton House Terrace, it was considered whether Hawarden should be sold. Every obvious argument was in favour of it, for example the comparison between the income and the liabilities I have named. How was Lady Glynne's jointure (£2500) to be paid? How was Sir Stephen to be supported? There was no income, even less than none. Oak Farm, the iron property, was under lease to an insolvent company, and could not be relied on. Your grandfather, who had in some degree surveyed the state of affairs, thought the case was hopeless. But the family were unanimously set upon making any and every effort and sacrifice to avoid the necessity of sale. Mr. Barker, their lawyer, and Mr. Burnett, the land agent, entirely sympathised; and it was resolved to persevere. But the first effect was that Sir Stephen had to close the house (which it was hoped, but hoped in vain, to let); to give up carriages, horses, and I think for several years his personal servant; and to take an allowance of £700 a year out of which, I believe, he continued to pay the heavy subvention of the family to the schools of the parish, which was certainly counted by hundreds. Had the estate been sold, it was estimated that he would have come out a wealthy bachelor, possessed of from a hundred to a hundred and twenty thousands pounds free from all encumbrance but the jointure.
In order to give effect to the nearly hopeless resolution thus taken at the meeting in London, it was determined to clip the estate by selling £200,000 worth of land. Of this, nearly one-half was to be taken by your uncle Lyttelton and myself, in the proportion of about two parts for me and one for him. Neither of us had the power to buy this, but my father enabled me, and Lord Spencer took over his portion. The rest of the sales were effected, a number of fortunate secondary incidents occurred, and the great business of recovering and realising from the Oak Farm was laboriously set about.
Considerable relief was obtained by these and other measures. By 1852, there was a partial but perceptible improvement in the position. The house was reopened in a very quiet way by arrangement, and the allowance for Sir Stephen's expenditure was rather more than doubled. But there was nothing like ease for him until the purchase of the reversion was effected by me in 1865. I paid £57,000 for the bulk of the property, subject to debts not exceeding £150,000, and after the lives of the two brothers, the table value of which was, I think, twenty-two and a-half years. From this time your uncle had an income to spend of, I think, £2200, or not more than half what he probably would have had since 1847 had the estate been sold, which it would only have been through the grievous fault of others.
The full process of recovery was still incomplete, but the means of carrying it forward were now comparatively simple. Since the reversion came in, I have, as you know, forwarded that process; but it has been retarded by agricultural depression and by the disastrous condition through so many years of coal-mining; so that there still remains a considerable work to be done before the end can be attained, which I hope will never be lost sight of, namely, that of extinguishing the debt upon the property, though for family purposes the estate may still remain subject to charges in the way of annuity.
The full history of the Hawarden estate from 1847 would run to a volume. For some years after 1847, it and the Oak Farm supplied my principal employment[204]; but I was amply repaid by the value of it a little later on as a home, and by the unbroken domestic happiness there enjoyed. What I think you will see, as clearly resulting from this narrative, is the high obligation not only to keep the estate in the family, and as I trust in its natural course of descent, but to raise it to the best condition by thrift and care, and to promote by all reasonable means the aim of diminishing and finally extinguishing its debt.
This I found partly on a high estimate of the general duty to promote the permanence of families having estates in land, but very specially on the sacrifices made, through his remaining twenty-seven years of life, by your uncle Stephen, without a murmur, and with the concurrence of us all....