Letter – Nicholas Walton to John Holmes – 25 Jan 1775

Mr Holmes.                             				Farnacres 25th January 1775



Dear Sir

       Yesterdays Post brought me the favour of your Letter of the 21st inst. and this day I shall draw upon you for £199.1.6 being the amount of 708 Ounces of Bullion at 5s/9d P Ounce, after deducting Four Pounds one Shilling, paid by you on Mr Smeaton's Account for Miners Compasses, and £-8.6 due to you from my Father for Repairs and cleaning of his Watch.

       Upon the 5th of February last we gave you our Sentiments about the Silver Trade and in consequence thereof you write us the 11th of that Month etc gave us our choice either of your taking the Silver at 5d P Ounce more than the price of Standard Silver or that you would write to us regularly as we proposed.  By the latter it was proposed, by us, that we should write you when a Cake of Silver was ready, and that you were to give us a return of the Price at which you could take it, 28 days after the date of our Letter, that by this means, we might have the option between the London and Newcastle Marketts.  On the 18th of the same Month I wrote you that I thought it would be by far the best way, for each of us to be regulated by the price of Standard, at the time of the arrival of every Cake in London, and if upon considering that with my Brother when he came into the Country, the Proposal you had made of taking the Bullion at 5d P Ounce more than Standard, appeared to us in the same light that it did to me then, I realy thought it would be the best way of settling the price; and til that time I should send the Bullion which was produced upon the Terms, unless I should hear from you to the contrary, upon any alteration of the Trade which might make that necessary.   Those circumstances have occasioned my having an Idea that it had been fully agreed upon, you were able to take the Bullion from the time of your making the proposition, at 5d P Ounce above Standard,on its arrival in London, unless you wrote us to the contrary; whereas, I find, as abovementioned, that was only proposed by myself to be the regulation til Brother Smeaton and I consulted together on his arrival at this place after my writing the 18th of February last; and nothing having been said since, except what I mentioned the 6th inst I must own I have made a mistake, and that the regulation which I approved, conformable to your offer, did not take place as an Agreement, further than to the time of Brother Smeaton's arrival here.  This being the case, I desire you will be so obliging as let me know in your next, whether it is agreable to you to take Bullion produced at Langley Mill, on the above Terms, for the time to come, each Party being at liberty to put an end to the Agreement, as circumstances may occur in the Trade to make that necessary; and in case you should not approve of this regulation, you will be so obliging as put the matter upon some other fixed Ground; for as Mr Smeaton and I act only as Agents, it may be expected from us to show you upon what Terms our Agreement stands with you; and this is the only reason of your having so much trouble upon the occasion.   I shall be glad to hear from you, when convenient, and am with best respects and good wishes to yourself Mr Holmes and all Friends in which my Wife and Father join

       Dear Sir    Your most hble Servt

       N W Junr PS.  



About the middle of March you may expect to receive another Cake of Bullion. The Bill will be payable 30 days after date. My Fathers Watch goes very well.





Sir.                      Farnacres 25th January 1775

Thirty Days after Date Pay to the Order of Messrs Bell Cookson Carr Widdrington and Saint One Hundred and Ninety Nine Pounds One Shilling & Six Pence. Value received as advised by Sir your hble Servts

       Walton & Smeaton 



To Mr John Holmes London