Letters – Joseph Rchmond to Walter Blackett – 7 Jul 1733

To Wr. Blackett Esq on Cocoa Street Pall Mall                                Newcastle 7 July 1733



Hon[ou]rd Sir

      I reced a Lre  pr past Post from Sir Wr. [Calverly], copy whereof is in the other side, to which I know what answer to give. I am humbly of opinion the advancing the £5000 there in mentioned would greatly distress your affairs at present as you will perceive by the value of the stock & Debts particularised on the other side , as they stand to the 30 ult.o, for if that sum be advanced out of the stock in hand, it will straiten you much in every respect, & you will not be able to make any pay at your mines this year, if next year, which will bring your affairs back to the same situation they were in Sr. Wm’s time, which you have been endeavouring to retrieve, & have in good measure accomplished. The saveings of the £1000 Sr Wr. mentioned is very considerable, but had not the £5000 be much better borrowed at first, than return to 3 or 4 years pay, which has been a thing so justly complained of, if you make not your pays both regular & short now that the Price of Lead is fallen, & likely still to fall, the mines will turn to little Accot.

      There has been paid on your account since the 1st Janry upwards of £2600, you must no doubt have occasion for a great deal more money this year, & the next will certainly be very chargable. On the other hand Rents are ill paid, Lead is a drooping Commodity, & for these Reasons I look upon it (with the utmost submission) as contrary to your Intrest to reduce your stock, & that the Intrest of £5000 may be much better paid than the principle can at this time be spared.

      Ld Scarborough dined yesterday at the Mayors, when he had a Complim.t made him of his Freedom of the Corporation, I am                    yours etc                    JR



1733 June 31 Lead at Markett valued at    £7000. 0. 0

  Debts owing for Lead & Silver             650. 0. 0

  Money & bills in hand                     470. 0. 0

  Mart[inma]s Arrears of Rent               530. 0. 0

  Mr. Allgood no account since Oct.r 1730     0. 0. 0

                                           8650. 0. 0

   

Ditto Owing to Allenheads Coalcleugh etc   3500. 0. 0

  Mr. Dixon for corn                        700. 0. 0

  Weardale mines                           2500. 0. 0

 Interest to the 14th                      2165. 0. 0

Bishope Rents                               375. 0. 0

 Rector of Stanhope                         157. 0. 0

Lady Barbara                                250. 0. 0

Cornthwaite                                 247. 0. 0

New stables will be about                   300. 0. 0                                                                                

                                         £10194. 0. 0