A
DESCRIPTION
of
the
Silver
,
Lead
and
Copper
Mines
,
late
of
Sir
Carbery
Pryse
,
lying
in
Cardiganshire
,
within
four
Miles
of
the
Navigable
River
Dovey
,
and
from
thence
a
Mile
by
Water
to
the
Port
of
Aberdovey
,
where
Vessels
of
Three
or
Four
hundred
Tuns
may
ride
with
great
Safety
.
See
the
Book
entituled
,
An
Essay
on
the
Value
of
the
Mines
,
late
of
Sir
Carbery
Pryse
,
by
William
Waller
Gent
.
chief
Steward
of
the
said
Mines
.
stratigraphic map of the mine, labeled with letters which correspond to the following list
-
a
The
North-Vein
of
Lead-Oar
,
three
Foot
wide
.
-
b
The
great
Lead-Vein
,
eleven
Foot
wide
.
-
c
A
Vein
of
Lead-Oar
six
Foot
wide
.
-
e
A
Vein
of
Lead-Oar
three
Foot
wide
.
-
f
A
Vein
of
Green-Copper-Oar
,
four
Foot
wide
,
and
yields
Three
Tun
of
Copper
from
Twenty
Tun
of
Oar
.
-
g
The
Bog-Vein
,
four
Foot
wide
,
all
Potters
Oar
.
-
h
The
Cross
Vein
of
Lead-Oar
,
three
Foot
wide
.
-
i
The
Cross
Vein
of
Brown
Copper-Oar
,
five
Foot
wide
,
and
yields
five
Tun
of
Copper
out
of
twenty
Tun
of
Oar
.
-
k
The
first
great
Shaft
and
Western
Boundary
.
-
l
The
East
Level
64
yards
deep
.
-
m
The
Eastern
Boundary
.
-
t
t
t
The
places
where
the
Cross
Veins
meet
with
the
other
Veins
;
which
are
called
by
Miners
,
the
(
T
)
of
the
Veins
,
and
are
accounted
the
richest
part
of
them
.
-
o
The
West
Level
64
yards
deep
.
Note
,
All
the
said
Veins
are
fix'd
and
settled
betwixt
firm
and
solid
Sides
,
and
rise
equally
near
to
the
Surface
of
the
Ground
;
and
all
(
except
the
Cross
Veins
)
lye
parallel
to
the
great
Vein
,
descending
downwards
like
the
Mine
of
Potozi
;
but
being
many
in
Number
,
and
crossing
each
other
could
not
be
better
described
together
on
Paper
,
The
Scale
for
the
Length
four
hundred
Yards
in
an
Inch
;
and
for
the
Height
of
the
Mountain
eighty
Yards
in
an
Inch
;
and
for
the
Distance
between
the
Veins
forty
Yards
in
an
Inch.
Eight
Veins
together
.
And
thus
you
see
that
there
are
Eight
large
Veins
of
Silver
,
Lead
,
and
Copper
Oar
lying
near
together
in
one
Mountain
,
which
,
it
's
presum'd
,
cannot
be
parallel'd
in
any
part
of
the
Christian
World
.
And
whereas
't
is
not
unusual
to
lay
out
Five
,
Six
,
or
Seven
thousand
pounds
to
make
a
Level
,
Adit
,
or
Sough
to
Drain
the
Wate●
from
one
small
Vein
of
Lead-Oar
of
two
or
three
Foot
thick
,
here
a
far
le●s
Sum
of
Money
will
finish
both
the
East
and
West
Levels
above-mentioned
,
One
Level
serves
for
six
Veins
.
Sixty
four
yards
deep
,
which
,
with
a
small
cross
Drift
or
Cut
,
will
drain
the
Water
from
all
,
or
most
of
these
Veins
at
the
same
time
,
the
least
of
which
is
three
Foot
wide
betwixt
its
firm
sides
.
This
Conveniency
will
be
valued
at
a
very
high
Rate
by
all
Persons
experienced
in
the
Art
of
Mining
.
☞
But
as
to
the
Value
of
these
Mines
,
The
value
of
the
Mines
demonstrated
by
William
Waller
,
Gent
.
Steward
.
it
may
be
observed
from
a
Book
,
Entituled
,
An
Essay
on
the
Value
of
the
Mines
late
of
Sir
Carbery
Pryse
,
and
writ
for
the
private
Satisfaction
of
the
Partners
,
by
William
Waller
Gent
.
the
present
Steward
thereof
,
(
who
is
an
Ingenious
,
Approved
,
and
Experienc'd
Artist
in
the
management
of
Mineral
Works
,
and
a
Person
of
a
clear
,
unspotted
Reputation
,
and
of
no
mean
Circumstances
in
the
World
)
to
what
a
prodigious
Value
these
Mines
might
be
advanced
by
a
large
Stock
and
prudent
Management
.
And
what
an
advantagious
Bargain
the
Partners
had
in
1693.
The
Advantage
the
Partners
had
in
1693.
lost
by
differences
amongst
themselves
.
when
they
bought
at
17
l.
per
share
,
in
Case
they
had
not
fallen
into
unhappy
Differences
amongst
themselves
,
but
had
agreed
to
raise
a
Competent
Stock
,
and
to
carry
on
the
Works
to
the
best
Advantage
.
But
(
besides
the
Arguments
in
that
book
,
to
which
the
Reader
is
referr'd
)
it
may
he
farther
offer'd
to
the
Consideration
of
all
Persons
experienced
in
the
Art
of
Mining
,
That
the
Mines
are
better
worth
50
l.
per
share
at
this
day
,
then
17
l.
per
share
in
1693.
and
acquainted
with
the
Circumstances
of
these
Mines
in
the
Year
1693.
Whether
the
said
Partners
shares
may
not
,
with
good
reason
,
be
computed
to
be
better
worth
50
l.
per
share
at
this
day
(
with
all
the
Grants
and
other
Advantages
in
the
new
Settlements
of
this
Expedient
)
than
they
were
worth
17
l.
per
share
in
the
Year
1693
?
Reasons
offered
,
For
then
the
Shares
were
valued
and
bought
upon
the
Credit
of
one
Vein
only
,
(
the
richness
of
the
five
other
Lead
Veins
,
or
the
two
Copper
Veins
,
bein
then
not
at
all
discovered
,
and
consequently
not
in
the
least
considered
in
the
Purchase
)
whereas
now
here
is
five
Lead
Veins
more
,
First
.
From
the
New
Discoveries
.
valued
by
the
Steward
at
60000
l.
per
Annum
,
and
two
Copper
Veins
valued
at
36000
l.
per
Annum
,
and
which
yield
malleable
Copper
in
the
first
running
;
and
being
large
Veins
,
and
very
rich
in
Copper
,
may
at
the
Level
,
which
is
64
Yards
deep
,
grow
to
be
of
equal
value
with
all
the
Lead
,
(
this
being
sold
at
10
l.
per
Tun
,
and
Copper
at
100
l.
per
Tun
)
or
thereabouts
.
2dly
,
Then
their
Adits
,
Levels
,
Soughs
and
Air-shafts
were
not
begun
;
By
having
,
Levils
,
Adits
,
and
Shafts
.
now
the
East-Level
is
brought
home
within
Twenty
or
Thirty
Yards
of
the
Mine
,
and
the
West-Level
is
carried
up
Two
hundred
and
ten
yards
in
length
,
and
many
Air-Shafts
are
sunk
,
which
is
a
vast
Advantage
.
3dly
,
Then
they
had
no
Smelting-Houses
,
Cupulo's
,
By
having
Smelting-houses
,
&c.
ready
built
.
nor
Store-Houses
,
or
other
Buildings
necessary
for
the
carrying
on
the
said
Works
;
but
now
they
have
Smelting-Houses
,
&c.
ready
for
Employment
.
4thly
,
Then
the
Mines
were
charged
with
great
Debts
,
Salaries
,
By
being
discharged
of
all
Debts
,
&c.
and
Payments
;
but
hereby
they
are
discharged
from
all
manner
of
Incumbrances
.
5thly
,
Then
the
Partners
were
unexperienced
in
the
Management
of
Mineral
Works
;
but
now
they
have
gained
five
Years
experience
:
By
having
five
years
experience
.
and
the
Profits
of
such
Works
depend
much
upon
the
Method
and
Conduct
of
the
Managers
.
6thly
,
Then
their
Constitutions
were
Arbitrary
;
By
having
a
better
Constitution
.
but
now
fair
and
equal
for
every
Person
concerned
:
And
this
Advantage
the
Partners
value
at
a
high
rate
;
who
know
the
Difficulties
they
laboured
under
before
,
for
want
of
it
.
7thly
,
Then
the
Partners
wanted
divers
Liberties
and
Priviledges
,
By
a
grant
of
new
Liberties
;
and
being
thereby
enabled
to
employ
a
greater
stock
.
whereby
they
were
both
discouraged
from
raising
a
large
Stock
,
and
deprived
of
an
Opportunity
of
Employing
of
it
in
the
Works
,
when
raised
.
But
now
all
those
Liberties
are
not
only
granted
to
them
to
enable
them
to
employ
five
times
the
Stock
and
Number
of
Men
,
but
even
the
raising
of
the
Stock
it self
is
part
of
the
Expedient
.
And
't
is
presumed
that
it
is
well
known
to
the
World
,
The
greater
the
stock
,
the
greater
the
profit
.
in
the
Case
of
Mineral
Works
,
that
if
the
Proprietors
can
raise
and
employ
a
greater
Stock
therein
,
they
will
proportionably
advance
the
Gain
and
Profit
thereof
;
so
that
if
they
double
the
Stock
they
double
the
Profit
,
See
Mr.
Waller's
Essay
,
pag
.
41
,
44
,
45.
and
so
by
Consequence
,
if
they
can
raise
and
employ
five
times
the
Stock
,
they
will
have
and
receive
five
times
the
Profit
;
for
their
Gains
are
greater
or
less
in
proportion
to
the
number
of
Hands
they
employ
;
and
the
number
of
Hands
are
greater
or
less
in
proportion
to
the
Stock
.
As
for
Example
;
An
Example
.
Suppose
every
Workman
to
get
half
a
Tun
of
Oar
in
the
Week
,
which
when
made
into
Lead
,
will
yield
a
clear
Profit
to
the
Owners
of
Two
pound
seven
shillings
,
as
is
proved
in
the
said
printed
Essay
,
pag
.
8
,
9.
and
was
actually
done
at
one
of
these
Mines
,
which
at
Fifty
Weeks
,
amounts
to
Twenty
five
Tun
of
Oar
,
and
to
One
hundred
and
seventeen
pounds
ten
shillings
per
Annum
:
And
suppose
a
Stock
of
Four
thousand
pounds
would
employ
One
hundred
and
twenty
Men
,
who
at
the
same
rate
will
raise
Three
thousand
Tun
of
Oar
,
which
amounts
to
Fourteen
thousand
and
one
hundred
pounds
per
Annum
:
If
you
double
your
Stock
,
and
consequently
employ
Two
hundred
and
forty
Men
,
your
Profit
will
be
double
,
viz.
Twenty
eight
thousand
and
two
hundred
pounds
per
Annum
;
and
by
the
same
reason
,
if
you
raise
a
Stock
of
Twenty
thousand
pounds
,
which
is
five
times
Four
thousand
pounds
(
the
Stock
in
1693.
Note
,
The
stock
in
1693.
was
employed
as
a
dead
Stock
in
making
Levels
,
Smelting
Houses
,
&c.
)
and
thereby
employ
Six
hundred
Men
(
which
is
five
times
One
hundred
and
twenty
)
your
Gain
will
be
five
times
as
great
,
viz.
Seventy
thousand
and
five
hundred
pounds
per
Annum
;
and
so
on
proportionable
to
the
Stock
and
Number
of
Men
you
can
employ
in
these
Mines
.
But
to
prove
that
a
much
greater
Number
of
Men
may
now
be
employed
in
these
Mines
,
Note
,
That
a
great
number
of
men
may
be
employed
without
danger
of
the
Mines
being
exhausted
.
when
the
Levels
are
brought
home
,
and
the
Works
set
in
order
,
without
danger
of
the
Mines
being
exhausted
.
See
the
said
printed
Essay
;
whereby
it
appears
(
amongst
several
others
)
that
at
Keswick
in
Cumberland
was
employed
Four
thousand
Men
in
one
Vein
,
and
at
a
small
Vein
Two
foot
wide
in
Arkindale
in
Yorkshire
,
Six
hundred
Men
;
and
that
the
Mine
of
Potozi
(
six
foot
wide
)
hath
lasted
above
One
hundred
and
fifty
years
with
Twenty
thousand
Men
;
and
the
Mines
of
Cremnits
in
Germany
Nine
hundred
and
fifty
Years
.
And
at
Coomsumblock
,
a
Silver
Mine
in
Cardiganshire
,
a
small
Vein
not
Two
foot
wide
,
Four
hundred
Men
were
employed
by
the
Patentees
of
Royal
Mines
for
many
years
,
and
by
the
help
of
a
Water
Engine
,
may
be
employed
again
to
great
Profit
.
And
by
having
a
Term
better
in
Profit
by
three
years
than
the
former
.
8thly
and
lastly
,
In
1693.
they
could
not
work
for
Profit
till
the
Levels
were
made
,
and
in
the
carrying
up
the
Levels
there
could
not
be
employed
more
Men
then
was
,
so
that
Three
years
was
of
necessity
to
be
lost
in
Dead-work
,
which
reduced
the
Original
Term
for
Profit
,
from
Twenty
two
to
Nineteen
years
,
or
thereabouts
;
whereas
now
they
will
have
a
compleat
Term
of
Twenty
two
years
,
which
(
with
these
Levels
&c.
)
is
Three
years
better
in
real
Profit
then
the
Original
Term
;
so
that
in
effect
the
Partners
have
the
Advantages
of
a
Term
of
Twenty
five
years
,
instead
of
Two
and
twenty
years
:
And
these
Three
last
years
by
reason
of
encreasing
and
multiplying
of
Hands
every
year
,
may
be
worth
as
much
as
Six
years
in
the
beginning
of
the
Term
.
All
these
advantages
being
very
great
.
All
which
Advantages
being
seriously
considered
,
and
put
together
,
cannot
but
have
their
due
weight
by
all
those
who
are
experienced
in
the
Management
of
Mineral
Works
.
Least
the
World
should
be
surprized
with
so
advantagious
an
offer
,
Sir
H.
M.
first
opens
.
And
here
it
might
reasonably
be
expected
that
Sir
H.
M.
should
begin
to
open
his
Expedient
—
But
because
it
cannot
be
imagin'd
but
that
the
World
will
be
surprised
to
see
so
rich
a
Treasure
offered
to
them
upon
such
easie
and
advantagious
Terms
as
are
herein
after
mentioned
,
it
may
not
be
improper
to
open
first
the
true
Reason
that
induced
Sir
H.
M.
to
propose
,
and
the
Partners
to
comply
with
this
Undertaking
;
which
was
as
followeth
(
viz.
)
Sir
Carbery
Pryse
having
several
Law-Suits
with
the
Patentees
of
Royal
Mines
,
and
having
expended
considerable
Sums
of
Money
therein
,
The
Reasons
which
induced
the
Partners
to
comply
with
this
Expedient
.
and
not
being
able
to
carry
on
the
said
Mineral
Works
to
the
best
Advantage
without
some
Assistance
,
thought
fit
to
take
in
several
Partners
,
who
afterwards
sold
some
Shares
for
Seventeen
pounds
per
Share
,
and
covenanted
to
discharge
the
Mines
from
all
Incumbrances
,
and
out
of
the
Purchase
Money
to
pay
the
Sum
of
Four
thousand
and
eight
pounds
for
a
dead
Stock
,
to
carry
up
the
Levels
,
sink
Air
Shafts
,
and
build
Smelting
Houses
,
&c.
But
these
things
not
being
fully
performed
,
Differences
did
arise
between
the
Old
and
New
Partners
,
the
Officers
,
Stewards
,
and
Miners
were
left
unpaid
,
and
most
of
them
forced
to
leave
the
Works
.
The
Partners
employed
several
Persons
of
Skill
and
Judgment
to
view
the
Mines
;
all
of
them
reported
that
the
Mines
were
extraordinary
Rich
,
and
wanted
nothing
but
Men
and
Money
to
make
them
Answer
their
utmost
Expectation
.
Thereupon
Consultations
were
held
about
raising
a
Quick
Stock
;
but
upon
Examination
of
their
Deeds
and
Writings
,
there
appear'd
some
Defects
.
And
amongst
several
others
,
-
First
,
To
enable
them
to
employ
a
large
Stock
,
they
wanted
farther
Liberties
to
be
granted
to
them
.
-
Secondly
,
They
wanted
their
Terme
to
be
renewed
.
-
Thirdly
,
They
wanted
a
better
Constitution
.
For
Sir
Carbery
Pryse
,
and
after
him
Mr.
Edward
Pryse
,
having
a
Majority
of
Votes
in
themselves
,
had
an
Absolute
and
Arbitrary
Power
over
the
Mines
and
Stock
of
all
the
Partners
,
whereupon
they
declined
the
raising
of
a
Stock
till
those
and
other
Matters
could
be
redressed
.
But
instead
of
an
Accommodation
,
the
Treaties
produced
greater
Differences
,
till
at
last
the
Scene
was
changed
;
and
Sir
H.
M.
having
purchased
for
himself
and
Friends
the
Interest
and
Shares
of
Sir
Carbery
Pryse
and
Mr.
Edward
Pryse
,
tho'
he
bought
the
same
for
a
valuable
Consideration
,
yet
he
freely
offered
to
the
Partners
all
,
and
more
then
ever
was
desired
by
them
,
provided
they
would
comply
with
such
reasonable
Things
as
should
be
proposed
for
the
Common
Good
.
Whereupon
the
Partners
,
at
a
General
Meeting
,
And
the
Reasons
which
induced
Sir
H.M.
to
propose
this
Expedient
.
were
pleased
to
refer
all
Differences
to
his
Consideration
:
And
the
said
Sir
H.M.
upon
Examination
,
meeting
with
greater
Difficullies
then
he
imagined
;
and
finding
Matters
very
intricate
,
and
that
it
was
impracticable
to
compose
their
Differences
,
or
to
raise
a
Stock
in
any
ordinary
and
usual
way
,
and
having
several
times
declared
the
same
at
the
General
Meetings
of
the
Partners
,
several
Proposals
were
made
and
offered
to
their
Consideration
.
The
Ways
proposed
and
offered
were
,
Several
ways
proposed
for
raising
a
Stock
.
-
First
,
To
raise
a
Stock
of
Twenty
thousand
pounds
by
an
Assessment
of
5
l.
per
Share
,
to
be
paid
in
ready
Money
.
-
Secondly
,
By
increasing
the
Number
of
Shares
,
and
taking
in
more
Partners
.
Or
,
-
Thirdly
,
By
paying
a
Premium
to
such
Partners
,
or
others
,
who
would
advance
the
Stock
on
the
Credit
of
the
Mines
.
But
none
of
these
Ways
did
agree
with
the
Circumstances
the
Partners
were
in
,
nor
would
answer
the
Difficulties
they
laboured
under
.
Not
approved
.
And
for
what
Reasons
.
For
some
of
them
wanted
ready
Money
to
comply
with
the
first
;
others
(
complaining
that
the
number
of
Partners
and
Shares
was
too
great
already
)
did
not
approve
of
the
Second
.
And
it
was
agreed
by
most
,
that
the
third
way
was
of
such
a
Nature
,
as
by
Mortgaging
and
Incumbring
the
Mines
(
and
consequently
drawing
the
Partners
into
long
Accounts
in
Chancery
,
and
by
engaging
them
to
admit
of
a
Management
by
particular
and
private
Persons
,
whose
Interest
would
be
distinct
from
the
Common
Good
of
the
Partners
)
would
put
them
in
as
bad
a
Condition
as
they
were
before
.
And
by
none
of
these
Ways
any
Provision
was
made
for
clearing
the
Debts
,
☞
or
reconciling
the
Differences
,
which
was
absolutely
necessary
to
be
done
.
What
kind
of
Proposal
was
to
be
made
to
please
all
Parties
.
And
therefore
,
in
order
to
carry
on
the
said
Mines
to
the
best
Advantage
,
and
unite
all
the
different
Interests
amongst
the
Partners
,
some
other
way
was
to
be
thought
of
in
this
Case
,
whereby
the
Partners
,
and
all
Adventurers
might
be
secure
and
free
from
Hazard
;
the
Assessment
of
5
l.
per
Share
avoided
;
the
number
of
Partners
rather
lessened
than
increased
;
the
Mines
discharged
from
all
manner
of
Debts
and
Incumbrances
;
all
Differences
accommodated
;
no
Premiums
;
no
Mortgages
;
no
Law-Suits
;
no
Arbitrary
Power
,
nor
any
Person
of
a
distinct
Interest
to
interfere
in
their
Management
;
but
that
the
Parties
concern'd
should
raise
their
own
Stock
,
by
An
Expedient
safe
and
easie
,
and
have
the
entire
Management
of
the
Mines
themselves
,
under
a-fair
and
equal
Constitution
.
The
Necessity
which
obliged
Sir
H.
M.
to
propose
this
Expedient
.
Whereupon
Sir
H.
M.
(
though
a
Person
utterly
unacquainted
with
Matters
of
this
Nature
,
and
very
unfit
for
such
an
Undertaking
)
yet
in
a
Case
of
Absolute
Necessity
,
and
rather
than
suffer
so
rich
a
Treasure
to
lye
dead
and
unwrought
,
to
the
great
Prejudice
of
himself
and
Partners
,
and
Loss
to
the
whole
Nation
;
and
perceiving
that
no
other
Proposal
would
prevail
to
Unite
so
many
different
Interests
)
thought
fit
to
acquaint
the
Partners
,
that
in
case
all
Differences
might
be
composed
,
and
the
Mines
transferred
into
Trustees
Hands
for
that
purpose
,
he
would
propose
and
open
to
them
an
EXPEDIENT
for
clearing
all
the
Debts
wherewith
the
Mines
then
stood
charged
;
and
for
raising
the
Sum
of
Twenty
thousand
pounds
for
a
Stock
for
carrying
on
the
working
of
the
said
Mines
,
without
any
Premium
or
Repayment
of
either
Principal
or
Interest
,
and
for
paying
and
securing
to
such
of
the
said
Partners
as
should
be
unwilling
to
become
Adventurers
with
the
said
Sir
H.
M.
under
such
Proposals
as
he
should
make
the
Sum
of
20
l.
for
every
Share
they
respectively
had
in
the
said
Mines
.
An
Apology
for
making
one
so
common
,
And
if
all
this
can
be
accomplished
by
a
proper
and
seasonable
Application
of
an
Expedient
adapted
to
this
particular
Case
,
tho'
grown
ever
so
common
and
ordinary
in
its
use
and
practice
;
if
a
dangerous
and
fatal
Distemper
can
be
cured
by
an
ordinary
and
safe
Remedy
,
mixed
with
other
proper
Ingredients
,
't
is
presumed
that
neither
the
Expedient
,
nor
the
Remedy
,
will
be
rejected
for
that
Reason
,
by
any
prudent
Person
,
when
the
Circumstances
of
the
Case
will
admit
of
no
other
.
because
no
other
would
serve
.
The
following
Expedient
therefore
being
necessary
,
and
the
only
Means
left
to
dis-intangle
the
Mines
,
to
raise
a
Stock
,
and
to
settle
the
Parties
concerned
upon
a
better
Foundation
.
What
value
to
be
set
on
the
Mines
.
The
next
thing
to
be
considered
,
in
order
thereunto
,
is
the
present
value
to
be
set
upon
the
Mines
in
this
New
Undertaking
.
That
15000
Tun
of
Oar
may
be
raised
out
of
one
Vein
.
For
Mr.
Waller
in
his
Essay
seems
to
have
proved
(
even
to
demonstration
)
that
15000
Tun
of
Oar
may
be
raised
with
600
Men
out
of
the
Great
Vein
alone
,
(
when
at
the
Mine
of
Potozi
,
six
foot
wide
,
they
raise
256250
Tuns
of
Oar
every
Year
)
and
when
at
the
ordinary
and
lesser
Veins
in
the
North
so
many
Men
have
been
employed
;
Nay
when
he
himself
hath
raised
Four
thousand
pounds
worth
of
Oar
,
☜
and
imployed
Fifty
four
Men
in
Ten
yards
space
in
one
of
these
Veins
,
Twenty
of
which
Distances
will
imploy
above
1000
Men
.
And
't
is
plain
that
a
proportionable
number
of
Men
may
be
imployed
in
all
the
other
Veins
,
both
Lead
and
Copper
.
From
all
which
it
appears
(
by
Calculation
)
that
these
Mines
,
may
,
The
great
annual
value
of
these
Mines
.
with
a
large
Stock
,
and
in
a
few
Years
,
be
advanced
to
an
incredible
Profit
,
even
to
171972
l.
19
s
.
9
d
.
per
Annum
,
as
by
the
said
Essay
(
to
which
the
Reader
is
referr'd
)
may
appear
.
Yet
Sir
H.
M.
considering
on
one
side
,
Reasons
for
setting
the
same
at
a
much
lower
value
in
this
Adventure
.
that
the
Advantages
of
an
Undertaking
ought
to
be
reserved
for
those
who
continue
to
Adventure
in
the
Mines
for
the
Publick
Good
,
and
not
for
those
who
go
out
and
leave
the
Society
.
And
on
the
other
side
,
being
entirely
convinced
of
the
great
value
of
these
Mines
,
and
not
thinking
it
either
just
or
honourable
to
take
Advantage
of
the
Necessities
of
others
,
or
of
those
accidental
Discouragements
they
have
hitherto
met
withal
,
hath
thought
fit
to
put
the
Mines
(
in
this
Adventure
)
at
as
reasonable
a
value
as
possibly
they
could
be
,
to
answer
the
present
Necessities
,
and
to
establish
a
small
Charity
;
and
also
to
pay
off
those
Partners
whose
Circumstances
may
oblige
them
to
relinquish
this
Undertaking
.
That
as
he
is
convinced
that
no
Person
hereafter
,
under
the
present
Settlement
and
Constitution
,
can
(
in
all
Humane
probability
)
be
deprived
of
great
Advantages
by
this
Undertaking
;
so
he
is
not
willing
that
these
Mines
(
which
are
so
able
to
pay
their
own
Debts
)
should
lye
under
the
Scandal
and
Curse
of
having
done
a
Prejudice
for
the
time
past
to
any
Person
whatsoever
.
These
Mines
therefore
are
,
for
the
present
establishment
thereof
,
Viz
.
at
12500
l.
per
Annum
,
which
is
less
than
a
twelfth
part
of
the
real
value
proved
in
the
said
Essay
.
valued
in
this
Adventure
at
the
rate
of
Twelve
thousand
five
hundred
pounds
per
Annum
,
and
no
more
,
which
the
least
of
these
eight
Veins
,
with
a
large
Stock
,
may
very
reasonably
be
supposed
to
Answer
,
when
the
Works
of
my
Lord
Darwenwater
in
Auston-Moor
in
Cumberland
(
Thirty
Miles
from
the
Sea
)
and
about
Three
foot
wide
,
yielded
12000
l.
per
Annum
for
a
fifth
Duty
,
not
many
years
before
the
late
War
.
And
the
raising
of
no
more
but
3000
Tun
of
Lead-Oar
a
year
out
of
all
these
mighty
Veins
,
besides
the
Copper
and
Silver
,
3000
Tun
of
Oar
answers
this
valuation
.
will
more
then
answer
this
Valuation
,
which
at
Ten
years
Purchase
for
Twenty
two
years
,
Twenty
thousand
pounds
reserved
for
a
Stock
.
amounts
to
125000
l.
whereof
20000
l.
is
reserved
as
a
Stock
for
the
effectual
carrying
on
the
said
Mineral
Works
.
The
Method
of
this
Adventure
follows
the
President
of
the
Million
Adventure
at
large
,
and
in
the
very
words
thereof
,
The
Method
of
this
Adventure
.
with
some
few
particular
Additions
adapted
to
this
particular
Case
,
for
the
Security
and
Advantage
of
every
Person
concerned
.
This
ADVENTURE
will
be
PROFITABLE
to
the
Fortunate
,
The
Advantages
thereof
,
ADVANTAGIOUS
for
the
Publick
Good
,
CHARITABLE
to
the
Poor
,
and
cannot
be
UNPROFITABLE
to
any
Person
whatsoever
.
For
hereby
the
Fortunate
will
not
only
Purchase
the
richest
Treasure
of
this
kind
in
these
three
Kingdoms
,
Demonstrated
.
and
thereby
gain
vast
Estates
to
themselves
,
with
the
Aid
of
other
Persons
Money
,
and
at
a
cheap
Rate
and
Value
.
But
,
both
the
Fortunate
and
Unfortunate
are
Secured
,
upon
on
a
safe
Fund
,
to
have
all
their
Money
(
both
Principal
and
Interest
)
fully
paid
back
to
them
,
without
the
least
Abatement
,
Cost
or
Charge
whatsoever
;
and
not
without
hopes
of
800
l.
per Cent
.
Profit
.
And
hereby
his
Majesties
Customs
,
and
the
Trade
and
Wealth
of
England
,
will
not
only
be
advanced
by
the
Commodities
and
Manufactures
of
our
own
Country
,
and
thereby
the
Exportation
of
our
Coin
and
Bullion
in
great
measure
prevented
.
But
the
Poor
that
are
unable
will
be
Relieved
;
and
those
that
are
able
will
have
Work
provided
for
them
.
See
the
Settlements
at
large
.
The
Trustees
and
Managers
.
THE
Trustees
in
the
said
Settlement
,
and
Managers
for
the
said
Adventure
(
assisted
by
two
Publick
Notaries
on
Oath
)
who
are
pleased
to
take
upon
them
the
Trouble
of
seeing
all
things
duly
performed
according
to
the
said
Settlements
,
are
the
present
Trustees
,
Sir
Joseph
Herne
,
Sir
William
Hedges
,
Sir
Thomas
Vernon
,
Thomas
Pit
Esq
;
one
of
the
Masters
in
Chancery
;
and
Sir
William
Ashhurst
,
Sir
John
Hubland
,
Sir
James
Hubland
,
Sir
Francis
Child
,
Sir
Thomas
Cuddon
,
and
Sir
Robert
Bedingfield
.
The
Receivers
The
Receivers
.
are
Sir
Francis
Child
,
Sir
John
Johnson
,
Mr.
Robert
Fowle
,
Mr.
Richard
Hoare
,
Mr.
William
Atwill
,
Mr.
James
Hallet
,
Mr.
Thomas
Mynshall
,
Mr.
Richard
Smith
,
Mr.
Peter
Lupart
,
Mr.
John
Llund
,
and
Mr.
Coggs
of
London
,
Goldsmiths
;
and
such
other
Person
and
Persons
as
shall
be
appointed
by
the
said
Sir
Humphrey
Mackworth
.
The
manner
of
Raising
this
Money
,
as
in
the
said
Settlement
directed
,
is
,
That
125000
Tickets
be
delivered
out
at
20
s
.
a
Ticket
,
whereof
2500
are
to
be
Fortunate
Tickets
:
And
That
the
said
4008
Shares
of
the
said
Mines
be
divided
thus
:
To
the
first
Number
drawn
,
besides
the
Benefit
may
come
up
with
it
—
Fortunate
Tickets
|
10
shares
—
valued
at
400
l.
yearly
.
|
1
of
|
50
shares
—
valued
at
2000
yearly
.
|
1
of
|
40
shares
—
valued
at
1600
yearly
.
|
10
of
|
20
shares
each
valued
at
800
yearly
.
|
20
of
|
10
shares
each
valued
at
400
yearly
.
|
20
of
|
5
shares
each
valued
at
200
yearly
.
|
40
of
|
4
shares
each
valued
at
160
yearly
.
|
200
of
|
3
shares
each
valued
at
120
yearly
.
|
430
of
|
2
shares
each
valued
at
80
yearly
.
|
1778
of
|
1
share
each
valued
at
40
yearly
.
|
Total
2500
|
To
the
last
number'd
Ticket
drawn
10
shares
—
valued
at
400
yearly
.
|
Total
of
the
Shares
4008.
|
By
the
Author
of
the
ESSAY
,
on
the
value
of
the
said
Mines
.
The
form
of
the
numbred
Tickets
.
The
FORM
and
MANNER
of
the
Tickets
,
and
of
the
Drawing
of
the
same
,
is
as
followeth
:
First
,
125000
numbred
Tickets
are
prepared
and
bound
up
in
Books
,
and
signed
by
the
Managers
,
and
delivered
to
the
Receivers
,
Three
of
each
sort
in
Rows
of
the
same
Number
,
in
manner
following
:
three-part shareholding ticket
〈…〉
100.
Sept.
22.
1698.
●…
hard
Roe
of
London
,
Merchant
.
No
100.
Sept.
22.
1698.
Richard
Roe
of
London
,
Merchant
.
No
100.
This
Ticket
entitles
the
Bearer
to
One
Pound
with
Interest
at
6
per Cent
.
and
to
a
farther
Profit
at
the
Rate
of
800
l.
per Cent
.
and
(
by
Chance
)
to
a
great
Yearly
Sum
for
22
Years
out
of
the
Profits
of
the
Mines
late
of
Sir
Carbery
Pryse
.
NOW
put
the
Case
that
Richard
Roe
has
a
mind
to
lay
out
20
s
.
The
manner
of
taking
out
.
in
this
Adventure
,
and
comes
to
John
Doe
Goldsmith
,
(
and
one
of
the
Receivers
)
for
a
Ticket
.
Thereupon
the
said
John
Doe
cuts
out
the
owtmost
Ticket
on
the
right
Hand
numbred
(
100
)
Indentwise
through
the
said
oblique
Lines
;
and
Richard
Roe
writes
,
The
Date
and
Name
to
be
writ
on
the
corresponding
Tickets
.
or
causes
to
be
writ
upon
the
two
corresponding
Tickets
the
Day
of
the
Month
and
Year
,
his
own
or
some
Friends
Name
,
Surname
,
Quality
,
and
Place
of
Abode
,
in
Manner
and
Form
as
is
above-written
in
the
said
Corresponding
Tickets
,
and
also
Endorses
the
same
Date
and
Name
on
the
back
of
the
Ticket
so
cut
out
.
AND
the
like
is
done
for
every
other
Ticket
that
is
taken
out
:
But
if
Ten
Tickets
be
taken
out
together
,
he
need
but
write
his
Name
on
the
Tickets
in
the
middle
Row
,
and
on
the
uppermost
of
the
two
Tickets
in
the
extream
Rows
.
This
Ticket
,
so
cut
out
,
is
kept
safe
by
the
Party
.
AND
a
little
before
the
Tickets
are
drawn
,
125000
other
Tickets
are
to
be
made
,
whereof
2500
are
Benefit
or
Fortunate
Tickets
,
and
the
rest
blanks
Tickets
:
The
Fortunate
are
in
manner
following
:
two-part "fortunate" ticket
Fifty
Shares
Of
the
Mines
late
of
Sir
Carbery
Pryse
.
Fifty
Shares
Of
the
Mines
late
of
Sir
Carbery
Pryse
.
The
Fortunate
Lots
.
AND
then
the
said
Numbred
Tickets
first
above-mentioned
in
the
second
or
middle
Column
,
The
manner
of
rolling
up
,
tying
and
keeping
the
Tickets
.
are
to
be
cut
Indentwise
through
the
said
Oblique
Lines
,
roll'd
up
and
tied
with
silk
or
thread
by
the
said
Managers
,
in
the
Presence
of
all
,
or
as
many
of
the
said
Adventurers
as
will
be
then
present
,
(
of
which
due
Notice
shall
be
given
in
print
)
and
put
into
a
Box
marked
with
the
Letter
[
A
]
which
is
to
be
immediately
put
into
another
strong
Box
,
with
seven
different
Locks
and
Keys
,
and
kept
by
as
many
of
the
said
Trustees
and
Managers
,
and
sealed
with
their
Seals
.
The
Tickets
in
the
innermost
Colume
remain
in
the
Books
for
discovering
any
mistake
.
And
the
Tickets
in
the
first
or
innermost
Colums
of
the
said
Books
,
shall
remain
still
in
the
Books
for
the
discovering
any
Mistake
or
Fraud
.
And
the
said
Fortunate
Tickets
in
the
outward
Colume
shall
,
in
like
manner
,
and
presence
of
all
Parties
,
be
rolled
,
tied
,
and
cut
Indentwise
,
through
a
fine
Skroll
or
Devise
,
into
another
Box
marked
with
the
Letter
[
B
]
and
secured
in
another
strong
Box
,
with
seven
other
Locks
and
Keys
,
and
sealed
up
,
and
kept
by
the
said
Managers
as
aforesaid
.
The
manner
of
drawing
the
Tickets
.
AND
on
the
Day
of
Drawing
,
(
the
said
two
Boxes
being
produced
,
and
the
Tickets
and
Blanks
shaked
together
)
some
indifferent
Person
,
appointed
by
the
Managers
,
shall
draw
one
Ticket
from
that
Box
where
the
said
Numbred
Tickets
shall
be
;
and
one
other
indifferent
Person
appointed
and
approved
as
aforesaid
,
shall
presently
take
out
a
Ticket
or
Lot
where
the
said
fortunate
and
blank
Tickets
shall
be
promiscuously
put
together
,
and
immediately
both
the
Tickets
so
drawn
shall
be
opened
,
and
the
Numbred
Ticket
,
The
date
and
persons
names
writ
thereon
to
be
named
aloud
.
The
filing
and
entring
.
with
the
Date
and
the
Name
,
and
Place
of
Abode
of
the
Party
thereon
written
,
as
well
as
the
fortunate
or
blank
Tickets
,
shall
be
named
aloud
;
and
such
numbred
Tickets
as
are
drawn
with
Blanks
,
shall
be
put
together
on
one
File
;
and
such
as
are
drawn
with
Fortunate
Tickets
on
another
File
;
and
the
last
shall
not
only
be
named
aloud
,
as
aforesaid
,
but
also
immediately
entred
by
two
Publick
Notaries
on
Oath
,
Example
.
in
two
Books
of
Parchment
,
and
printed
.
As
for
instance
in
the
Case
above
:
He
that
draws
the
Numbred
Tickets
,
shall
say
aloud
thus
,
Viz
.
(
Number
100.
May
20.
1698.
Richard
Roe
of
London
,
Merchant
.
)
And
he
that
draws
the
Fortunate
Tickets
shall
say
aloud
thus
,
viz.
(
Fifty
Shares
.
Manner
of
Entry
.
)
Then
it
shall
be
immediately
entred
in
the
said
Books
,
That
Fifty
shares
of
the
Mines
Stock
,
&c.
late
of
Sir
Carbery
Pryse
,
valued
at
2000
l.
per
Annum
,
☞
belongs
to
Richard
Roe
of
London
Merchant
,
on
a
Ticket
numbred
100
,
and
dated
May
the
20th
,
1698.
Fortunate
lots
to
be
printed
.
And
every
such
Entry
is
to
be
signed
by
one
or
more
of
the
said
Managers
,
and
read
aloud
;
and
so
in
like
manner
for
all
the
other
Fortunate
Tickets
;
and
within
the
space
of
Ten
days
,
all
such
Entries
shall
be
printed
,
for
the
Satisfaction
of
those
that
shall
be
absent
at
the
time
of
drawing
the
said
Indenture
.
No
Person
can
be
defrauded
in
this
Adventure
.
And
hence
it
is
evident
to
all
Persons
of
the
meanest
Capacity
,
That
no
Person
whatsoever
can
possibly
be
deceived
or
defrauded
in
this
Adventure
;
and
all
the
trouble
of
comparing
the
Tickets
,
and
fitting
them
to
each
other
,
may
be
avoided
;
unless
two
Persons
of
the
same
Name
,
Quality
,
and
Place
of
Abode
shall
appear
with
a
Ticket
of
the
same
Number
and
Date
,
and
the
same
Hand-writing
;
and
in
that
Case
(
if
it
may
be
supposed
)
the
Tickets
must
be
compared
,
and
the
Matter
of
Fact
examined
,
by
which
the
Impostor
will
easily
be
discovered
.
And
by
the
said
numbred
Tickets
remaining
in
the
said
Books
,
and
dated
as
aforesaid
,
it
will
appear
how
much
each
Person
,
whether
Fortunate
or
Unfortunate
,
did
deposite
,
and
when
.
All
which
is
to
be
entred
in
another
Book
,
Principal
and
Interest
to
be
received
from
the
date
on
the
Tickets
remaining
in
the
Books
.
for
that
purpose
,
in
Alphabetical
Order
,
and
signed
by
the
Managers
;
to
the
end
that
every
Adventurer
may
be
repaid
his
Principal
and
Interest
,
from
the
Day
of
the
Month
entred
on
the
said
Corresponding
Tickets
,
as
aforesaid
:
And
upon
delivery
of
all
his
other
Tickets
,
may
receive
one
Ticket
for
the
whole
.
And
after
all
the
said
Fortunate
Lots
shall
happen
to
be
drawn
,
the
rest
of
the
numbred
Tickets
are
also
to
be
publickly
drawn
,
All
the
Tickets
are
to
be
drawn
.
filed
,
and
registred
in
the
said
two
Books
,
by
the
said
Publick
Notaries
on
Oath
,
in
the
Presence
of
the
Managers
and
Adventurers
;
that
all
Persons
that
are
absent
at
the
drawing
,
may
resort
to
the
said
Books
and
Files
,
That
every
Adventurer
may
be
satisfied
he
had
a
fair
Chance
.
and
be
fully
satisfied
that
their
Tickets
were
fairly
put
into
the
Box
with
the
rest
,
and
drawn
,
and
that
they
had
a
fair
Chance
for
their
Money
;
for
in
the
Books
they
'l
see
their
Names
Registred
by
Officers
on
Oath
;
and
on
the
Files
they
'l
see
their
own
Hand-writing
on
the
Tickets
.
And
by
this
means
,
☜
And
thus
this
new
Company
will
be
established
by
the
hand
of
Providence
.
as
Providence
had
a
more
particular
Hand
in
the
Discovery
of
this
vast
Treasure
,
so
it
will
hereby
have
in
the
distribution
of
it
;
and
a
great
Stock
being
thus
raised
,
and
placed
in
good
Hands
,
there
can
be
no
doubt
of
good
Success
to
the
Adventurers
,
in
so
great
and
good
an
Undertaking
for
the
Benefit
of
the
Poor
and
of
the
Publick
,
as
well
as
of
the
Particular
and
Private
Adventurers
.
The
MANNER
of
REPAYMENTS
is
thus
:
The
manner
of
Repayment
of
Principal
and
Interest
to
Fortunate
and
Unfortunate
.
The
Fortunate
Adventurers
are
to
have
the
Management
of
the
Mines
,
according
to
the
New
Constitution
,
who
will
be
most
careful
thereof
for
their
own
future
,
as
well
as
present
Advantage
:
And
they
are
obliged
by
the
Deed
of
Settlement
,
to
apply
the
Profits
thereof
,
First
,
For
the
Repaying
to
each
Adventurer
,
both
Fortunate
and
Unfortunate
,
their
respective
Interest
Money
,
every
second
Wednesday
in
June
yearly
,
and
afterwards
for
paying
their
several
and
respective
Principal
Sums
in
equal
proportion
,
as
the
same
shall
arise
out
of
the
Profits
of
the
Premisses
.
And
after
such
Payments
of
both
Principal
and
Interest
,
then
the
Profits
of
the
said
Mines
are
to
be
applied
to
the
sole
use
of
the
said
Fortunate
Adventurers
,
they
paying
one
fortieth
part
thereof
for
the
use
and
maintenance
of
poor
aged
Miners
or
Labourers
.
But
when
the
Profits
of
the
said
Mines
clear
,
above
all
Charges
,
And
of
having
900
l.
for
every
100
l.
besides
the
fortunate
Lots
.
shall
exceed
the
Sum
of
20000
l.
per
Annum
,
then
the
Fortunate
are
to
receive
20000
l.
yearly
to
their
own
use
clear
of
all
Charges
,
but
the
Overplus
thereof
above
that
value
,
shall
be
applyed
to
a
second
Payment
of
the
Principal
Money
so
adventured
as
aforesaid
,
to
both
Fortunate
and
Unfortunate
;
and
after
Payment
thereof
,
then
the
Fortunate
Adventurers
are
to
receive
40000
per
Annum
to
their
own
use
,
but
when
the
Profits
increase
to
the
annual
value
of
40000
l.
and
upwards
;
then
the
Overplus
thereof
above
40000
l.
are
to
be
applyed
to
a
third
Payment
of
the
said
Principal
Money
;
and
after
such
Payment
,
then
to
the
Fortunate
alone
,
till
the
Annual
Profits
increase
20000
l.
more
,
viz.
to
60000
l.
and
upwards
;
and
then
the
Overplus
thereof
,
over
and
above
that
value
,
is
to
be
applyed
to
a
fourth
Payment
of
the
said
Principal
Money
:
And
so
in
like
manner
the
Overplus
of
the
clear
Profits
above
80000
l.
per
Annum
,
is
to
be
applyed
to
a
fifth
Payment
,
and
so
on
,
after
every
20000
l.
per
Annum
Increase
thereof
,
the
Overplus
of
the
Profits
are
to
be
applyed
to
another
Payment
of
the
said
Principal
Money
,
to
both
Fortunate
and
Unfortunate
,
as
aforesaid
,
till
the
Profits
arise
to
160000
l.
per
An.
And
thus
they
who
have
Benefitted
Tickets
,
The
great
Advantage
to
the
Fortunate
.
may
be
truly
called
Fortunate
,
when
they
have
all
their
Money
deposited
paid
back
to
them
,
as
aforesaid
,
and
so
vast
a
Treasure
besides
,
without
any
hazard
,
together
with
a
Noble
Stock
of
20000
l.
The
Trustees
are
Intrusted
to
see
all
this
Duly
performed
.
And
the
Unfortunate
in
this
Adventure
may
,
in
some
respects
,
And
to
the
Unfortunate
.
be
said
to
be
fortunate
also
;
that
they
had
an
opportunity
of
placing
their
Money
on
so
good
a
Fund
,
where
they
are
secure
of
Principal
and
Interest
,
and
a
fair
probability
of
800
l.
per Cent
.
Profit
.
☜
The
Partners
will
hereby
have
a
greater
advantage
then
was
proposed
.
Note
,
The
Partners
by
this
Adventure
will
enjoy
much
greater
Advantages
than
was
promised
;
for
whereas
it
was
proposed
that
they
should
either
relinquish
at
10
l.
per
share
in
Money
,
and
10
l.
on
the
Credit
of
the
Mines
,
without
Interest
,
and
that
they
should
either
go
out
for
all
,
or
come
in
for
all
their
Shares
:
By
this
method
they
have
an
Election
to
go
out
,
and
come
in
for
as
much
,
or
as
little
as
they
please
.
Those
that
go
out
for
all
(
if
the
Adventnture
be
full
)
will
instead
of
10
l.
have
20
l.
per
share
in
ready
Money
.
And
those
that
come
in
for
all
,
will
not
only
have
their
20
l.
per
share
certain
upon
the
Credit
of
the
Mines
,
☞
but
also
Interest
for
the
same
,
and
800
l.
per Cent
.
Profit
;
and
moreover
400
Tickets
;
and
thereby
a
fair
Chance
for
as
many
shares
as
they
had
before
,
(
tho'
a
Fifth
part
thereof
may
be
of
equal
value
)
and
those
that
please
may
go
out
for
part
in
Ready
Money
,
and
take
the
rest
in
Tickets
,
and
on
the
Credit
of
the
Mines
.
As
for
instance
;
If
any
Person
hath
Twenty
shares
,
An
Example
.
which
at
20
l.
per
share
is
worth
400
l.
he
may
go
out
for
Ten
shares
,
and
take
200
l.
in
ready
Money
as
soon
as
the
Adventure
is
drawn
,
(
which
is
at
the
rate
of
20
l.
per
share
for
Ten
shares
,
or
10
l.
per
share
for
Twenty
shares
.
)
And
for
the
other
Ten
shares
,
he
will
have
20
l.
per
share
on
the
Credit
of
the
Mines
,
which
is
200
l.
more
,
besides
Interest
at
6
l.
per Cent
.
and
1600
l.
Profit
,
in
eight
Payments
;
which
is
Eighteen
hundred
pound
for
his
Two
hundred
;
and
also
200
Tickets
,
and
all
the
Benefits
that
may
arise
by
the
same
;
and
the
like
in
any
other
proportion
whatsoever
;
all
the
Partners
being
left
to
their
own
free
Choice
and
Election
in
this
Matter
.
All
which
Advantages
are
more
than
was
promised
,
and
such
as
the
Proposer
hopes
will
not
be
unacceptable
to
the
Partners
.
☞
And
all
the
Adventurers
will
have
the
same
advantage
as
the
Partners
.
Note
also
,
That
the
Partners
have
no
Advantage
by
this
Adventure
,
but
what
is
equally
Communicated
to
every
other
Adventurer
:
For
if
a
a
Partner
has
Twenty
shares
,
and
takes
out
the
value
thereof
at
20
l.
per
share
in
Tickets
,
which
is
400
Tickets
,
he
will
have
400
l.
with
Interest
on
the
Credit
of
the
Mines
,
and
so
will
any
other
Adventurer
who
takes
out
400
Tickets
with
Money
;
there
being
no
other
difference
than
this
,
That
a
Stranger
takes
out
Tickets
with
ready
Money
,
and
the
Partners
upon
the
value
of
their
shares
at
20
l.
per
share
;
but
both
have
their
400
l.
with
Interest
equally
secured
on
the
Credit
of
the
Mines
,
and
as
many
Payments
as
will
make
his
400
l.
3600
l.
and
all
the
Benefits
which
may
arise
by
the
400
Tickets
besides
.
Whereby
it
appears
,
the
Proposal
is
just
to
the
Old
,
and
advantagious
to
the
New
Adventurers
.
And
thus
Sir
H.
M.
humbly
hopes
,
That
as
he
hath
propos'd
an
Expedient
fair
and
just
to
those
Partners
,
whose
Circumstances
may
oblige
them
to
relinquish
their
Shares
;
so
it
cannot
be
unprofitable
to
any
other
who
think
fit
to
become
Adventurers
with
him
in
this
Undertaking
;
especially
when
he
considers
,
that
as
one
Share
in
the
New-River-Water
was
raised
from
Five
hundred
pounds
to
Four
thousand
pounds
per
Share
,
so
by
the
Authour
of
the
Essay's
Calculation
,
one
Share
in
these
Mines
may
,
in
a
few
Years
,
be
worth
Four
hundred
pounds
;
and
sure
he
is
,
that
nothing
but
the
unhappy
Differences
amongst
the
Partners
could
have
occasioned
such
an
Overture
to
the
World
,
☞
of
so
rich
a
Treasure
,
at
so
low
a
Value
.
The
Profit
of
the
Silver
.
For
besides
the
Profit
of
the
Lead
and
Copper
,
when
he
considers
what
vast
quantities
of
Oar
may
be
raised
,
at
Five
or
Six
shillings
a
Tun
when
the
Levels
are
open
,
and
that
Silver
also
may
be
extracted
out
of
the
Lead-Oar
with
little
waste
of
the
Lead
,
which
is
better
after
it
is
robb'd
of
the
Silver
than
before
:
When
he
reflects
that
Sir
Hugh
Middleton
gain'd
24000l
.
per
Annum
with
a
small
Stock
,
See
Sir
John
Pettus's
Fodine
Regale
,
pag
.
33.
and
Mr.
Bushel
cloathed
the
late
Kings
whole
Army
from
small
Veins
in
the
same
County
,
which
he
conceives
no
Person
will
pretend
(
taking
one
thing
with
another
)
to
compare
with
these
:
When
the
Advantages
of
such
large
Veins
,
lying
near
the
Sea
,
near
a
good
Harbour
for
Ships
,
in
a
cheap
Country
,
free
from
all
Duties
to
the
Lord
,
clear
of
all
Incumbrances
,
&c.
are
considered
,
what
may
not
be
expected
from
this
Undertaking
,
with
a
large
Stock
and
a
good
Constitution
?
But
as
to
the
Silver
,
it
's
well
known
,
The
value
of
the
Silver
.
That
at
the
Trials
at
Westminster-Hall
,
different
Proofs
were
made
of
the
Value
thereof
in
Silver
,
from
60
l.
per
Tun
of
Metal
,
to
3
or
4
l.
a
Tun
,
which
occasion'd
very
great
Censure
of
Perjury
on
one
side
or
other
.
But
tho'
I
will
not
take
upon
me
to
judge
of
that
Matter
,
being
not
present
at
the
Trial
,
yet
from
the
Experience
I
have
had
of
Mines
,
I
am
charitably
inclined
to
believe
it
possible
,
that
all
those
different
Oaths
may
be
consistent
:
For
I
am
inform'd
the
Proof
lay
thus
;
The
Extractor
swore
that
he
received
a
parcel
of
Oar
from
[
A
,
B.
]
which
yielded
at
the
rate
of
60
l.
per
Tun
;
Note
,
That
the
great
Vein
lies
in
Ridges
,
like
Planks
of
a
Floor
,
one
of
Potters
Oar
,
rich
in
Lead
and
poorer
in
Silver
;
another
of
harder
Oar
,
poorer
in
Lead
,
and
rich
Silver
.
[
A
,
B.
]
swore
he
had
that
parcel
of
Oar
out
of
the
Mines
of
Sir
Carbery
Pryse
.
Another
Extractor
swore
he
had
a
parcel
of
Oar
from
[
C
,
D.
]
which
yielded
but
4
l.
per
Tun
;
and
[
C
,
D.
]
swore
he
had
that
very
parcel
of
Oar
from
the
said
Mines
.
And
all
this
might
be
true
:
For
it
's
certain
,
that
in
most
Veins
there
is
small
Ribs
and
Knots
of
Oar
vastly
richer
than
the
other
parts
thereof
,
and
[
A
,
B.
]
might
pick
choice
pieces
for
the
Patentees
,
and
[
C
,
D.
]
the
worst
he
could
meet
with
near
the
Surface
of
the
Ground
for
Sir
Carbery
Pryse
;
whereby
all
that
Matter
seems
to
be
reconciled
:
And
I
presume
,
I
may
modestly
compute
between
the
two
Extreams
,
that
these
Mines
(
I
mean
the
hard
Oar
)
besides
the
Profit
of
the
Lead
,
may
yield
one
with
another
about
14
l.
Note
,
By
the
late
Act
of
Royal
Mines
,
the
Subject
is
entituled
to
9.
l.
for
every
Tun
of
Lead-Oar
,
which
yields
Silver
.
in
Silver
per
Tun
of
Metal
;
which
consisting
of
Two
Tun
and
a
quarter
of
Oar
,
at
9
l.
per
Tun
,
and
amounting
to
20
l.
and
5
s
.
there
is
no
danger
of
losing
the
same
by
the
Act
of
Royal
Mines
:
Tho'
I
heartily
wish
,
for
the
Good
of
his
Majesty
and
these
Kingdoms
,
that
when
our
Levels
are
brought
home
at
Sixty
four
Yards
deep
,
it
may
hereafter
prove
so
rich
,
as
to
be
worth
his
Majesties
Acceptance
at
that
Rate
;
which
would
be
a
vast
Advantage
to
the
King
and
Kingdom
,
and
yield
as
much
Profit
to
the
Partners
as
they
can
reasonably
expect
or
desire
.
The
Management
of
the
Mines
is
settled
according
to
the
best
Establishments
of
that
kind
in
this
Kingdom
,
The
management
of
the
Mines
,
how
established
?
whereby
the
Stock
(
whether
ready
Money
or
Bank
Bills
)
is
to
be
secured
in
an
Iron
Chest
,
with
seven
several
Locks
and
Keys
,
to
be
kept
by
so
many
of
the
Committee
.
The
Works
to
be
carried
on
to
the
best
Advantage
,
a
Transfer-Book
established
,
all
Wrong
and
Oppression
restrained
,
no
one
Partner
to
have
above
one
Vote
,
Suits
of
Law
prevented
,
and
the
meanest
Adventurer
secured
,
to
have
the
Money
due
to
him
forthwith
paid
without
delay
,
under
the
severest
Penalty
on
that
Person
that
shall
endeavour
to
defraud
him
.
See
the
last
Settlement
page
7.
And
as
to
the
Title
of
the
said
Mines
,
The
Title
unquestionable
.
the
same
is
not
only
perused
and
approved
by
the
said
Counsel
,
but
will
be
allowed
by
all
,
when
't
is
but
mentioned
to
be
derived
from
Sir
Carbery
Pryse
,
whose
Title
was
so
well
known
through
all
the
City
of
London
,
upon
the
first
granting
of
this
Lease
,
which
has
been
so
often
approved
,
and
indeed
not
so
much
as
ever
questioned
,
even
by
his
Adversaries
,
in
all
those
Great
and
Solemn
Trials
at
Bar
in
Westminster-Hall
,
between
him
and
the
Patentees
of
Royal
Mines
.
And
the
World
is
not
ignorant
that
this
Gentleman's
Concern
and
Title
to
these
Mines
,
was
the
first
occasion
of
that
Act
of
Parliament
concerning
Royal
Mines
,
which
in
due
time
will
,
in
all
probability
,
redound
to
the
great
Advantage
of
his
Majesty
and
these
Kingdoms
,
by
promoting
the
Discovery
of
more
Mines
,
and
thereby
advancing
the
Trade
,
Customs
,
Manufactures
,
Wealth
and
Strength
thereof
.
Partners
obliged
to
pay
their
Debts
.
All
Moneys
due
to
Partners
any
ways
indebted
,
shall
upon
timely
Notice
from
their
Creditors
to
the
Secretary
or
Accountant
,
and
giving
Security
to
save
them
harmless
for
so
doing
,
be
retained
in
the
Iron
Chest
till
the
Right
is
determined
,
and
the
Partners
Indempnified
for
payment
thereof
.
Reasons
for
a
Publick
Charity
.
And
to
the
end
that
so
great
a
Treasure
may
not
be
Engrossed
by
private
Persons
,
but
that
the
whole
Kingdom
may
receive
a
Benefit
,
and
not
only
a
General
and
Publick
,
but
in
some
measure
,
a
particular
and
private
Advantage
,
from
the
same
;
and
that
the
Impotent
and
Poor
,
however
dispersed
in
the
several
Counties
of
England
and
Wales
,
may
taste
of
this
Treasure
,
and
(
tho'
unable
to
take
out
Tickets
for
themselves
)
may
yet
partake
of
the
Advantages
of
this
Undertaking
,
and
have
a
fair
Chance
.
for
their
Subsistance
;
and
that
other
Persons
may
,
from
this
small
beginning
,
be
encouraged
to
follow
this
Example
in
Matters
of
like
Nature
,
whereby
many
Corporations
at
present
,
and
the
whole
Nation
in
time
,
may
be
eased
from
the
Burthen
of
the
Poors
Tax
.
Ten
thousand
Tickets
,
with
the
Benefits
thereof
granted
to
charitable
uses
.
Ten
thousand
Tickets
,
with
the
Benefits
thereof
,
are
granted
to
charitable
Uses
;
that
is
to
say
,
Two
thousand
one
hundred
Tickets
,
with
the
Benefits
thereof
,
are
most
humbly
recommended
to
be
distributed
to
such
Charitable
Uses
as
shall
be
appointed
by
the
Archbishop
of
Canterbury
,
the
Lord
High
Chancellor
of
England
,
the
Archbishop
of
York
,
the
Lord
President
of
his
Majesties
Privy
Council
,
the
Lord
Privy
Seal
,
and
the
Lords
Commissioners
of
his
Majesties
Treasury
,
the
Bishop
of
London
,
and
all
the
Bishops
of
the
several
Dioceses
in
England
and
Wales
,
the
Lord
Chief
Justice
of
England
,
and
the
rest
of
the
Judges
of
his
Majesties
Court
of
Kings
Bench
,
the
Lord
Chief
Justice
of
the
Common
Pleas
,
and
the
rest
of
the
Judges
of
his
Majesties
Court
of
Common
Pleas
,
the
Lord
Chief
Ba
-
of
England
,
and
the
rest
of
the
Barons
of
the
Court
of
Exchequer
for
the
time
being
,
and
by
the
Master
of
the
Rolls
,
and
their
Successors
respectively
.
And
750
Tickets
by
the
Chief
Justice
of
Chester
,
and
the
rest
of
the
Judges
of
North-Wales
and
South-Wales
;
by
the
Benchers
and
Barre
ters
of
the
four
Inns
of
Courts
;
by
the
two
Universities
of
Oxford
and
Cambridge
;
by
the
President
and
Fellows
of
St.
Mary
Magdalen
Colledge
in
Oxford
.
See
the
names
of
the
Corporations
in
the
last
page
of
the
second
Settlement
.
And
4700
Tickets
,
with
the
Benefits
thereof
,
are
given
and
granted
to
the
Poor
of
the
City
of
London
,
Westminster
,
Bristol
,
and
York
,
and
the
Borough
of
Southwark
,
and
Towns
of
Shrewsbury
,
Monmouth
and
Cardiffe
,
and
to
most
of
the
Cities
,
Chief
Burroughs
and
Towns
Corporate
in
England
and
Wales
,
as
in
the
Settlements
mentioned
.
And
1200
Tickets
with
the
Benefits
thereof
,
to
the
Poor
of
the
particular
Towns
,
Villages
and
Parishes
hereafter
mentioned
,
that
is
to
say
,
Lanvihangell-Generglyn
,
and
Lanbadernvaure
,
in
Cardiganshire
;
Abergavenny
,
Uske
,
Carlion
,
Chepstow
,
Newport
and
St.
Melans
,
in
Monmouthshire
;
Cowbridge
,
Margam
,
Avon
,
Britton
,
Neath
,
Caddoxton
and
Swanzy
in
Glamorganshire
;
Little
Deane
,
Flaxley
,
Huntley
,
Newland
,
Great
and
Little
Badminton
in
Glocestershire
;
Abbots-Betton
,
Elsmere
,
Drayton
,
Oswestrye
,
Woore
,
Longstow
,
Broseley
,
Bentall
,
Rockadine
,
Lyleshall
,
Cundour
,
Cund
,
Bracemeale
,
in
Shropshire
;
Brandford-Forum
,
in
Dorsetshire
;
Brough
,
Broughschoole
,
Kirbey-Stephen
,
and
School
,
Orton
,
the
Chappel
upon
Stainsmore
,
the
School
upon
Stainsmore
,
the
School
of
Ravenstendale
,
the
School
at
Winton
,
Hilton
,
and
Murton
in
Westmoreland
;
Bowes
,
Wenslaydale
,
Rumble-Church
,
Swayledale
,
and
Brampton
in
the
Parish
of
Wa●h
,
in
York-shire
;
Kirklan
,
Eaden-Hall
,
and
Ousby
in
Cumberland
;
Dilton
in
Wiltshire
.
And
1350
Tickets
with
the
Benefits
thereof
for
Augmentation
of
poor
Vicaridges
in
Wales
,
to
Greenwich
and
the
several
Hospitals
in
and
about
London
,
to
the
Friendly
Society
of
Widows
,
for
the
Assistance
and
Encouragement
of
such
Persons
as
shall
endeavour
the
Conversion
of
Infidels
in
the
Indies
,
and
towards
the
Relief
of
Poor
Prisoners
.
All
which
Tickets
are
to
be
taken
out
gratis
,
and
the
Benefits
thereof
in
the
several
Payments
above-mentioned
;
and
also
in
Fortunate
Lots
;
to
be
from
time
to
time
applied
to
Charitable
Uses
,
by
such
honourable
Persons
as
aforesaid
,
and
by
the
Mayors
,
Aldermen
,
and
Common-Council-Men
of
the
said
Cities
and
Towns
Corporate
;
and
by
such
other
Person
and
Persons
,
and
in
such
Proportion
,
Manner
and
Form
as
in
the
Settlements
for
that
purpose
made
,
is
at
large
directed
and
appointed
.
And
thus
Sir
H.
M
hopes
he
hath
performed
what
he
undertook
,
That
the
Proposal
made
by
Sir
H.M.
is
performed
according
to
the
true
intent
and
meaning
thereof
.
and
that
his
Proposal
and
Expedient
will
(
by
this
Method
)
be
accomplished
to
the
Satisfaction
of
all
Parties
:
For
first
,
't
is
conceived
that
no
Person
could
rationally
expect
from
his
Proposal
,
that
any
more
was
intended
,
than
to
put
the
Partners
in
such
a
way
of
Paying
their
Debts
,
and
of
raising
a
Stock
,
as
should
be
more
easie
and
safe
in
every
respect
,
and
more
convenient
to
reconcile
the
different
Interests
amongst
them
,
and
for
promoting
the
Publick
Good
,
than
any
other
Proposal
that
had
been
made
;
and
that
whatever
was
proposed
by
him
,
was
to
be
done
by
an
Expedient
,
1st
,
By
an
Expedient
.
not
by
giving
so
much
Money
out
of
his
own
Pocket
,
as
some
(
that
were
not
Partners
)
vainly
imagined
.
But
secondly
,
Though
he
presumes
he
might
,
with
good
reason
,
expect
to
stand
in
equal
Circumstances
with
all
the
other
Partners
,
and
that
it
was
really
more
than
could
be
reasonably
expected
from
him
,
to
bestow
his
Labour
and
Pains
in
this
Undertaking
(
which
has
not
been
inconsiderable
)
without
any
the
least
return
to
his
own
particular
Advantage
;
Yet
as
this
Case
stands
,
he
has
not
only
done
this
,
2ly
.
By
the
several
Grants
made
to
the
Partners
.
☜
but
in
effect
hath
raised
the
Stock
,
and
paid
the
Debts
out
of
his
own
Pocket
:
For
if
ever
the
Mines
will
answer
Mr.
Waller's
Valuation
in
his
Essay
,
it
will
be
in
the
last
Five
years
of
the
Term
which
is
granted
by
the
Proposer
to
the
Partners
.
For
as
the
number
of
Men
imployed
may
be
doubled
every
Year
by
sinking
more
Shafts
,
and
raising
more
Stages
or
Stelches
upon
every
Vein
,
for
more
Men
to
work
upon
,
it
must
needs
follow
,
That
the
last
Five
years
will
yield
more
Profit
then
the
first
Ten
;
at
which
Rate
,
allowing
a
Rebate
for
a
Reversion
after
Seventeen
years
,
the
value
of
the
last
Five
years
may
be
cast
up
by
any
Accountant
to
a
great
deal
more
Money
,
not
only
than
the
Debts
and
Stock
,
but
than
all
the
Mines
themselves
are
valued
at
,
in
this
Expedient
:
And
thereby
,
't
is
plain
,
And
thereby
raising
a
Fund
of
Credit
sufficient
to
answer
the
present
occasions
.
he
raises
a
Fund
of
Credit
,
and
gives
that
additional
Value
to
the
Partners
Shares
,
which
answers
all
these
Occasions
,
and
is
the
same
thing
in
effect
as
giving
the
Money
it self
.
But
,
thirdly
,
when
all
the
other
Advantages
granted
to
the
Partners
are
also
seriously
consider'd
,
and
that
the
Undertaker
doth
not
directly
or
indirectly
gain
any
manner
of
Advantage
to
himself
by
this
Proposal
,
Without
the
least
Advantage
to
himself
.
but
what
is
equally
communicated
to
every
Partner
and
Adventurer
whatsoever
,
and
that
a
Benefit
will
accrew
to
the
Publick
,
and
to
the
Poor
,
by
this
Method
,
which
would
have
been
lost
by
any
other
.
It
is
humbly
hop'd
that
the
best
part
of
Mankind
will
entertain
a
favourable
Opinion
of
this
Undertaking
.
Subscriptions
to
be
taken
from
Sept.
12.
to
Octob
.
15.
And
to
the
end
the
Mines
may
speedily
be
set
on
Work
on
the
Credit
of
this
Adventure
,
and
no
time
be
lost
whilst
Tickets
are
preparing
,
Subscriptions
for
Tickets
may
be
taken
from
the
Twelfth
day
of
September
,
from
any
Person
or
Persons
whatsoever
,
till
the
Fifteenth
day
of
October
,
in
manner
and
form
as
in
the
Indenture
Tripartite
is
set
forth
.
Interest
from
the
day
of
Subscription
,
paying
down
a
tenth
part
.
And
every
Person
so
Subscribing
is
to
have
Interest
from
the
Day
of
his
Subscription
,
paying
down
one
Tenth
part
of
the
Sum
subscribed
,
(
taking
a
Receipt
for
the
same
)
and
the
Residue
on
or
before
the
First
day
of
November
next
.
The
Form
of
the
Receipt
is
thus
:
I
A.
B.
do
hereby
acknowledge
to
have
received
from
C.
D.
this
present
〈◇〉
day
of
〈◇〉
1698.
the
Sum
of
(
10
l.
)
being
the
Tenth
part
of
one
Hundred
pounds
subscribed
by
the
said
C.
D.
for
one
Hundred
Tickets
in
the
Mine-Adventure
;
The
Receipt
for
the
Sum
.
which
Tickets
I
do
hereby
promise
to
deliver
,
or
cause
to
be
delivered
to
the
said
C.
D.
upon
his
payment
of
the
further
Sum
of
Ninety
pounds
to
Sir
Humphrey
Mackworth
,
or
his
Order
,
at
or
before
the
first
day
of
November
next
.
Witness
my
Hand
.
Subscribers
to
elect
to
draw
by
1
l.
or
10
l.
Tickets
.
And
in
case
the
whole
Sum
of
125000
l.
shall
be
subscribed
for
,
then
the
major
Number
of
Subscribers
,
at
a
General
Meeting
to
be
held
,
and
Summoned
at
such
Time
and
Place
,
and
in
such
Manner
and
Form
as
shall
be
appointed
by
the
said
Managers
,
or
the
major
part
of
them
,
may
elect
,
whether
this
Adventure
shall
consist
in
the
drawing
of
125000
Tickets
at
1
l.
per
Ticket
,
or
12500
Tickets
at
10
l.
per
Ticket
,
all
things
to
be
proportioned
accordingly
.
See
the
Form
of
the
Instrument
of
Subscription
,
and
of
the
Affidavit
taken
by
the
Parties
concerned
,
for
the
faithful
discharge
of
their
Trust
in
the
second
Settlement
,
pag
.
15
,
17.
At
the
end
of
the
Lease
the
Stock
of
20000
l.
(
which
is
never
to
be
lessened
on
any
Dividend
)
is
to
be
also
divided
to
each
Adventurer
,
according
to
his
respective
shares
.
UPON
THE
WHOLE
MATTER
,
Every
Person
may
observe
,
that
here
he
may
(
if
he
please
)
make
a
secure
Bargain
without
hazard
,
being
rather
an
Usurer
than
an
Adventurer
at
the
worst
hand
.
But
secondly
,
That
he
hath
a
fair
Chance
besides
of
a
Fortunate
Lot
,
and
of
getting
a
great
Estate
to
himself
and
Family
.
For
thirdly
,
Here
is
a
great
Stock
of
20000
l.
raised
the
main
Wheel
on
which
all
great
Uundertakings
move
.
Fourthly
,
A
compleat
terme
for
profit
of
Two
and
twenty
years
from
the
First
day
of
January
next
.
Fifthly
,
A
secure
Method
Established
before-hand
for
the
Management
of
the
Mines
,
as
well
as
the
Drawing
of
the
Tickets
,
and
doing
Justice
to
all
Parties
.
Sixthly
,
Trustees
of
Worth
and
Integrity
.
Seventhly
,
An
undoubted
Title
.
Eighthly
,
A
general
and
particular
Charity
to
the
Poor
.
Ninthly
,
Many
great
Advantages
in
these
above
other
Mines
,
as
in
the
largeness
of
the
Veins
,
scituation
near
the
Sea
,
a
deep
Level
,
the
benefit
of
Five
years
work
,
and
of
Smelting
Houses
and
Cupulo's
,
&c.
all
Obstructions
of
the
Works
being
rectified
and
prevented
.
And
tenthly
and
lastly
,
Here
is
an
Opportunity
offered
of
advancing
the
Trade
and
Customs
,
preserving
the
Coin
and
Bullion
,
encreasing
the
Strength
and
Wealth
,
and
in
short
,
of
promoting
the
general
good
of
his
MAJESTY
and
his
KINGDOMS
.
So
that
if
either
private
Interest
,
love
to
our
Country
,
or
Charity
to
the
Poor
may
be
supposed
to
prevail
,
this
ADVENTURE
cannot
meet
with
any
Disappointments
.
FINIS
.