SD891. Richard Barrett (1789–1839) to John F. Badley
Published in The Brownings’ Correspondence, 4, 335 (in part).
Moneague
April 5. 1838
My dear Badley.
I did not get your letter in time to answer by last post.
I am a borrower not a lender, & am so deeply in debt that I cannot take a single share in your New Bank—I however feel the greater interest in its success. I have just bought 1185 acres of land adjoining my preserves for £2000 being the hapless remnant of this year’s income– I am beginning to think of borrowing a thousand pounds of the |former| to clear & stock the land. Next year I can begin again but for this year, I am done up. There is a capital house in |completion| of my last purchase– If the Dir Genl wd be my tenant I would put it to rights & furnish it for a consideration. If he wishes to keep illness out of his family he will pass the hot months in |R Ansl| I will give him up this house & go to the other, if he cd be prevailed on to come to |R Ansl|. The climate is just like a warm May. <There is a penn & large House for sale next door to Tyndenham—6000£.> [1]
But to the purpose I fear a Capital of 60,000 is hardly sufficient—certainly no less. Lending money on the security of Land which at emergencies cannot be converted into money– How can the 60,000 be resident in Banks & also be lent out on personal necessity? Where is your fund for paying your notes when they return upon you? If you take a letter of credit from a Bank & make your notes payable there, take care that the Bank does not |abrest| the best part of the profit– I do not see why you shd not do general Banking business– You will at least <I wd take half.> [2] have the Custom of those who borrow your money– Do you propose to lose the advantage of being a bank of deposit I shd say; engage in other Banking business, loans on personal property–
Yrs very truly
R Barrett
Bad pen & worse paper[.]
Address, on integral page: John Badley Esqr / Kingston.
Publication: None traced.
Manuscript: Eton College Library.
1. Written in another hand and interpolated after “May” at the bottom of a page.
2. Written in the same hand as the previous interpolation and inserted after “at” at the bottom of a page; probably refers to “best part of the profit.”
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