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There are TWO HUNDRED YEARS OLD near enough!

Nice clean shape, with a TON of rate notations on the front I have no idea of what they are, but someone will know!

Belfast to Dunbar Scotland mail.

$A50 the pair plus $2 unreg'd post globally

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Ha! Found this on a google search. Borthwick at the time of these letters was cashier of this bank from inception in 1810.

So these are letters to a crook! (Who was later arrested in South America.) Letter contents relate to Bank Drafts etc.

http://bankingletters.co.uk/page20.html

The initial (1810) contract of copartnery for the East Lothian Banking Company was for 21 years; the capital £80,000, in 400 shares of £200 each. There were 27 Partners, chiefly small landed proprietors or tenant farmers; 9 ordinary Directors and 3 extra ordinary Directors.

The Cashier was William Borthwick who was recruited from the Falkirk Union Banking Company. On 10th April 1822 Borthwick absconded with a large sum of the Bank's cash and bills with this resulting in the closure of the Bank.

The following poem appeared soon after the failure of the Bank.

Touch of the Times.

A sad confusion has happened here,

By William Borthwick our cashier,

He's run away with a' our gear -


A roguish turn.

Which many ane, I am apt to fear,

Have cause to mourn.


First, Mr Goudie he maun thole,

To site awhile in yon dark hole,

With no window, but a bole

With Iron gate;

Nae doubt he'll think it e,en right droll

In sic a state.


Next, monie a farmer, far and near

Who had lodged in her their pennie dear,

Which they had gathered thro the year,

With the intent,

When terms came their lands to clear,

And pay the rent.


There's monie ane will suffer loss,

But what it may be in the gross,

To state it fair, I am at a loss.

Till the conclusion,

I fear they may draw a black cross,

Through eighty thousand.


But yet, I think some are to blame

To let Will Borthwick play such game;

Sure they some better care should ta-en

To search things out,

Which would have saved them meikle pain

You need not doubt.


But now he's fled and left them a'

It's said he's off to America,

If he got there the feint a flaw

He'll care for ane.

He'll be fu' safe, by Yankee law,

In his new hame.

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William Borthwick.

William Borthwick was recruited by the Directors of the East Lothian Bank at the outset of the business and moved from his employment with the Falkirk Union Banking Company to take up the position of Cashier.

There is some doubt as to his age at the time of the appointment although it is thought he was in the region of 20 - 22 years of age.

His youth for such a position is thought to be reflective of the general lack of experienced Scottish bankers as a consequence many having been recruited by other Scottish, UK and International banks.

Borthwick's responsibilities were considerable with the Directors (mostly lacking any banking experience) leaning heavily on him. It is thought that his role was sound in the early years.

Much can be found on his stated intention to kidnap the Directors of the Bank; to imprison them in air holed vessels and to then set them off on a trade ship to Danzig although whether these comments were a true intention or not is difficult to say. It is certain that he (either alone or with an accomplice named Goudie) removed cash and bills from the Bank and departed in 1822.

It is very likely that the economic climate of the time was causing other businesses in which he had an interest (with his Brother, Bruce Borthwick) financial difficulty and that William Borthwick was propping up these businesses using the Bank's funds. When he could support this no longer he fled.

There is some debate as to whether he ever stood trial for the offence although it is known that he was arrested in South America.

Some wonderful discussion here - nominated for Thread Of The Month

http://www.stampboards.com/viewtopic.php?f=29&t=32699

On the reason the postage charged on these was so HIGH .. 90 pence etc for a short journey. Great reading.

Most interesting.

The Scotland Court of Session decided this case on Dec 3, 1822.

The detailed decision is a nice read.

http://books.google.co.in/books?id=Wq8D ... ed&f=false

Thanks and regards.

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Sold to Simply Goodies. Thank you.

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Sold -- 2 really historic covers and will come post free with the Scouts Ross.