Part 12 (2/2)
Subsequently Mr and Mrs Montefiore attended a ball given by the Master of the Ceremonies at the Albion Hotel, where they met many acquaintances. Sir John Conroy was particularly polite to them. Mr Montefiore offered him the use of the key of his grounds for the d.u.c.h.ess, which he accepted with pleasure. Accordingly both Mr and Mrs Montefiore called the next day on the d.u.c.h.ess, and left a key there for the use of Her Royal Highness, Sir John Conroy and his family.
On Wednesday, October 21st. the d.u.c.h.ess, accompanied by one of her ladies of honour, and attended by a footman, made use of the key, and walked through their grounds.
Sir John Conroy, meeting Mr Montefiore next day at Burgess' Library, said that the d.u.c.h.ess regretted that his gardener had suddenly disappeared yesterday, which had prevented her sending to inform Mrs Montefiore that she was in the grounds as she had wished to have done.
Her Royal Highness having repeated her visits to his grounds, Mr Montefiore ordered an opening to be made in the field on the side next to Broadstairs for the convenience of the d.u.c.h.ess. In recognition of this attention he received the following note from Sir John Conroy:--
”Sir John Conroy presents his compliments, and in obedience to a command he has just received from the d.u.c.h.ess of Kent, hastens to acquaint Mr Montefiore that Her Royal Highness is exceedingly gratified and obliged by his attention in making a new access to his charming grounds from Broadstairs for her convenience, but Her Royal Highness fears she has given a great deal of trouble.
”Ramsgate, _24th October 1835_.
There were several incidents which afforded them much gratification this year.
Mrs Montefiore was invited to name a new steamer. ”This morning,”
writes Mr Montefiore on July 9, ”we embarked from the Custom House stairs on board the _Harlequin_, to witness the launch of a new steams.h.i.+p built by Fletcher & Fearnaly. On reaching the dockyard near Limehouse, Mr Woolverly Attwood and Judith went on sh.o.r.e; I followed with Horatio at half-past one. My dear wife named the s.h.i.+p by throwing a bottle of wine against the side of the vessel at the moment she left the stocks and plunged into the water. 'May every success,' she said, 'attend the _Britannia_.' We then went on board the _Royal Sovereign_.
There was a large party; about a hundred sat down to dinner. Several members of Parliament with their ladies were present, G. R. Dawson, Medley, T. M. Pearce, Pepys, and Col. Lawrence. Many speeches, all drinking my dear wife's health.”
Another entry refers to his having been admitted to the freedom of the Merchant Taylors Company. Mr Montefiore received a letter from Mr Matthias Attwood, informing him that he had proposed his name at the Court of the above Company for admission to the freedom and livery of the same. The proposition, said Mr Attwood, was carried unanimously, many of the members expressing the high respect they entertained for Mr Montefiore's personal character.
On the 4th of November he was accordingly admitted and sworn a freeman of the said Company. ”Matthias Attwood,” says Mr Montefiore, ”has acted with the greatest kindness in procuring me this honour, I being the first Jew admitted to their Company. At the next meeting of the Court I am to be made one of the livery.”
A printed slip of a newspaper is affixed to one of the leaves of the diary, referring to a loan raised under the authority of the Act 3 and 4 of William IV., cap. 73, for the compensation to owners of slaves; it reads as follows:--
”The parties to the contract for the 15,000,000 loan are N. M.
Rothschild and Moses Montefiore on the one part, and Lord Melbourne, Mr F. Spring-Rice, Lord Seymour, and Messrs W. H. Old, R. Steward, and R. More, on the other; witnesses, Messrs James Pattison, Governor, and T. A. Curtis, Deputy-Governor of the Bank of England.”
There is another slip attached to it, showing the interest on this loan to have been lower than several preceding ones.
The interest on the loan of 1812 was 3, 5s. 7d., and of 1813, 5, 10s.
Second loan of 1813, 5, 6s. 2d.; 1814, 4, 12s. 1d.; 1815, 5, 12s.
4d.; 1819, 4, 5s. 9d.; 1820, 4, 3s. 3d.; and on the present loan, 3, 7s. 6d.
The particulars of that loan are given in the _Money Market and City Intelligence_, dated Monday evening, 3rd August 1835:
”The bidding for the West Indian loan took place this morning. Mr Rothschild and his friends waited upon Lord Melbourne and the Chancellor at ten o'clock. Mr Rothschild's tender, the only one prepared, the other lists having been withdrawn, was then opened, when that gentleman's bidding was found to be 14s. 11d. in long annuities.
The offer having been declined, the sealed minimum of ministers, as previously arranged, was opened, and it appeared they were not willing to give more than 13s. 7d. of annuities in addition to 75 consols and 25 redeemed 3 per cents, for every 100 in money subscribed. It was for Mr Rothschild, therefore, either to agree to those terms or to abandon the contract. That gentleman and his friends retired for a short time to consult on the subject, and finally agreed to accept them. An important concession was, however, obtained in regard to the discount for paying up the instalments, which is to be at the rate of 4 per cent. on the payment, as in all former contracts for loans, and gives a bonus of 1, 19s. 10d. in favour of the contractors. The subscribers to the loan have now an inducement which did not exist under the arrangement at first proposed, for completing the instalments and turning their omnium into stock. Though it is an advantage, therefore, to them, it is considered somewhat against the present price of consols, as a large supply may at any time be thrown upon the market. The Chancellor of the Exchequer a.s.sured the gentlemen who attended the bidding, that all means would be taken on his part to bring back into circulation the money that might come into his hands beyond the amount called for to meet the West Indian claims. On the subject of debentures (they are not named in the contract specially) against which, as a security not yet created, there were many objections, it is agreed that they shall be at all times made receivable to the instalments of the loan. When the terms were first made known, the scrip bore a premium of 2-3/4 to 3 per cent., but they produced a decline in consols, which went back to 89, a fall of nearly 1 per cent. at the highest price of the morning. A large amount of business was done both in the stock and in the scrip; the fluctuations in them were not, however, very considerable afterwards. The following are the concluding quotations:--
”Consols for the account, 89-3/4 to ----; omnium 2-3/4, 3 premium; Exchequer bills, 18s. to 20s. premium.”
On the same day he makes the following entry in his journal: ”I accompanied N. M. R. Pattison and J. A. Curtis to the City; called at the Alliance, Irish Bank, &c.; at six we dined, and took our fast, &c., this being the anniversary of the destruction of the Temple in Jerusalem.”
Few financiers, perhaps would feel inclined, after all the excitement incidental to the successful contracting of a loan for 15,000,000, to comply with so exacting a religious observance as a fast of twenty-four hours duration. With a mind pre-occupied with business details, the rise and fall of the public funds, and other matters, such an observance must be more than ordinarily trying. Nevertheless Mr Montefiore would not, on this occasion any more than any other, allow worldly interests to prevail over religious duties.
The loan for the abolition of slavery reminded him of the words of the Prophet Isaiah (ch. lii., v. 3) to Israel: ”Ye have sold yourselves for nought, and ye shall be redeemed without money,” and attuned his mind to reflection on the former glory of Zion and its present state of sorrow.
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