No. 1 is an exact copy of a section of an Exchequer Tally acknowledging the receipt of £236 4s. 3½d. on Oct. 25, 1739, from Edward Ironside Esq., as a loan to the King on Three per Cent. Annuities.
No. 2.—Each large notch represents £100, and a single cut of the notch signifies half the amount. Thus the upper line of No. 2 represents £250.
It was to the interest of all concerned in my establishment to reduce the interest of money, otherwise we could not have used it to advantage. We were receiving only 8 per cent. for my stock; the lower, therefore, we brought all other interest, the more valuable was my stock.
Previous to my starting in life, the nation had been paying from 12 to 20 per cent. interest for money, which, if it had continued, must have ruined the kingdom; and as, by the way I did my work, this would be no longer necessary or possible, those who had been, up to this time, making money in this fashion, were compelled to spend it on land or lend it at a moderate rate.
Others came in during the day to have their foreign bills of exchange discounted, which I did at the rate of 3 per cent. per annum, undertaking the inland bills and notes for debts at 4½ per cent. per annum.
This was the kind of work which I performed in my early days, and upon which has been built up that wonderful fabric of money transactions associated with my name in this the nineteenth century. I am afraid the very relation of my day’s work two hundred years ago has wearied you; if so, forgive me. I felt it necessary to my character to show you that the work undertaken by me from the very first was good and honourable, conscientious and helpful, and that wherever my household did a good stroke of business for itself it was not at the expense of others’ ruin; on the contrary, we could not help ourselves to riches without extending the benefit all round.
(To be continued.)