Letter – Arthur Mowbray to Shute Barrington – 28 Mar 1799

My Lord

      I yesterday wrote your Lordship that Mr Emm had given me a Rental made out from the Notices of your Lordships Estates that belong this see <viz> Lands on Lease for Years £13,880 1s 10d and on Lease for Lives £17,866 19s 8d per an[num], together £31,747 1s 6d. 

Mines for Years £153 16s, for Lives £8362 11s 0d, together £8,516 7s 0d per an[num].

Quarries for Years £394 10s 0d, on Lives – Collected



Estates           £31,747  1 6

Mines & Quarries   £8,910 17 0

                  £40,657 18 6

    Add 1/4       £10,164  9 7 1/2

                  £50,822  8 1 1/2



One seventh of which will be £7260 6s 10½d which on a fair computation ought ann[ua]lly to raise from the renewals, presuming the Lives and Years, the same in point of chance. The avrage in three years of Mr Emms Account is £5,560 7s 2½d. which is less than the above Computation by £1699 19s 8d and must I conclude be owing to the difference between Lives & Years, if so its a strong reason for selling the Reversion in the Lives, however it may not at some opportunity be an Improper thing to <trace> to the source.  At 6% in the pound on the Lands, the <Land tax> will be about  £793 13s 6d

on the Mines ditto                          £222 15s 0d

                                           £1,016 8s 6d

							

My reason for going over this ground again is in consequence of my writing yesterday in a hurry, I was afraid of Mistakes, however the whole is only Conjectural, but it is something, and the best matter I have been able to collect, to ground any system upon observation, or Calculation upon. Again suppose your Lordship should be left a chance of purchasing, one half of the Land Tax, and the Estates to be sold (the Reversion) fetch six years purchase, and the Land Tax be purchased to pay 5 per c[en]t, rather more than <Ten> thousand pounds will have to be raised, and will take the Reversion of Estate to the ann[ua]l value of about seventeen hundred pounds. I shall be glad to see the new act, to know how they have provided for the sale of the Reversion of the Leaseshold for Lives. I conclude it must turn this way, that the Lives be valued, thus suppose three Lives are valued at Twelve years purchase, that such a Lease by the Lesee be considered of the same value as a Lease for Years, that has only Twelve years to go, and that the Lessor should take for his own use the same of one as of the other, for what is called filling up the Term, by which I think Justice may be done to all, but of the Leasehold for Lives, were to be offered to the Lessee, without this mode or some one similar, such Lessee w[oul]d never <agree to give> a Freehold price or rate for the Nine years, to bring him to a level with the Lessee for Years, whilst the Lessee for Years is getting his Terms filled up, on the Terms usually taken on renewing the Lease, and the Lessee would also <lease> the Benefit of the Term <for the Nine> Years, which by selling the Reversion in the Lease for Years he would receive. It would be Tedious to your Lordship for me to offer any observations, as to the advantages that w[oul]d accrue to the see by such sales & purchases, the Term being filled up, on the sale w[oul]d bring to the Lessor a certain, & not small sum, & w[oul]d not lessen the renewals for seven years, while 5 perc[en]t for the Reversion Sold, would be ann[uall]y received and that it will be an advantage to the see forever is also pretty clear, as will appear by the paper I gave your Lordship in answer to Mr Youngs. 

      I am of Opinion that Scarth & the Clerks have laid their Heads together, for the very purpose your Lordship suspects, and that they have been too active for the Commissioners but all this I know will not pass further than your Lordship.

      It did not seem at Weardale that Col Beaumonts Agents were backward, nor were they very Active, they had I learn no particular directions; they signed the Bill. In the <..> I took upon myself to say that I knew the Col. was Friendly to the measure, & to the Chapels & Schools, which had ill effect. I do not think the Inhabitants rejected the Chapels & Schools, from any cause, save the money, I am heartily sorry, the point could not be gained, but I am not Desponding. I like the Weardale people, and will offer something for your Lordships consideration, in another shape, in the course of the next summer.

      I am my Lord your Lordships very much o[blige]d & h[umble] ser[van]t

      Arthur Mowbray



The Hon[ora]ble & Rt Rev[eren]d the Lord B[isho]p of Durham