UC-NRLF /■V- Wwl IBl St. ' ^¥w3 i IM&I i$?rr»r. : II Street) ^C LIBRARY OF THE University of Califori Class REFUTATION MISSTATEMENTS AND CALUMNIES CONTAINED IN MR LOCKHART 8 LIFE OF SIR WALTER SCOTT, BART. RESPECTING THE MESSRS BALLANTYNE. THE TRUSTEES AND SON OF THE LATE MR JAMES BALLANTYNE. Miffi /,/■ ling Observer. PRINTED BY BALLANTYNB AND CO., PAUL'S WORK, HDlNIU'Cbli. THE BALLANTYNE-HUMBUG HANDLED. THE BALLANTYNE-HUMBUG HANDLED, jn A LETTER SIR ADAM FERGUSSON. BY THE AUTHOR OF MEMOIRS OF THE LIFE OF SIR WALTER SCOTT. ROBERT CADELL, EDINBURGH; JOHN MURRAY, AND WHITTAKER & CO. LONDON. MDCCCXXXIX. STEVENSON & CO. PRINTERS, THISTLE STREET. SIR ADAM FERGUSSON, &c. &c. &c. HUNTLY BURN, MELROSE. Regent's Park, March 12, 1839. Dear Sir Knight, In August last, I saw the Edinburgh book-shops and newspapers placarded, in a most lavish manner, with advertisements of a pamphlet entitled " Refutation of the Misstatements and Calumnies contained in Mr Lockhart's Life of Sir Walter Scott, Bart, respecting the Messrs Ballantyne." I was informed, that in the Radical and nether Whig circles of your Capital, this tract had pro- duced what the Reporters call a " vivid sensation," and that the said sensation was if possible still more intense at Kelso. But I found the few of my old acquaintance I then encountered laughing heartily at the whole affair. They all seemed to take for granted that I had perused the performance with the calmness of perfect contempt ; and to agree with me that I ought to answer it no other- wise, if at all, than by quietly affixing a few docu- mentary notes or appendices to the first reprint of the book it assailed. 2 LETTER TO SIR ADAM FERGUSSON. Some weeks ago, my publisher called on me to prepare a new edition, and I set about the necessary revision of my materials and authorities. But I presently perceived that, in regard to this Ballantyne controversy, I could not follow out the method originally proposed, without very awkwardly burthening the pages of my narrative, and, what would have been worse, without giving the whole work a controversial aspect. I have now, therefore, re- solved on throwing what I think it worth while to say on this matter into a separate form, and I hope you will par- don my adopting that of a Letter to yourself. You knew and loved Sir Walter from your boyish days ; you have been long my friend; you knew the Ballantynes about as well as I did during their lifetime; you are esteemed a good analyser of evidence ; and, notwithstanding all the sobering influences of years, you are still, I suppose, not unlikely to be diverted with the complete exposure of consummate impudence. I shall have occasion to employ plain language in reference to the manufacturers of this pamphlet ; but I beg you to understand once for all, that I consider their putting the son of James Ballantyne in the front of their battle as a mere piece of fudge. That youth has just, as I hear, concluded his London apprenticeship as a printer. He had no doubt been taught to regard the Patriarchs of his house as great men, and might naturally enough view it as a portentous thing that anybody should venture to depict them — the one as a frisky tricksy little scapegrace — the other as at best a well-meaning bore, who owed whatever of good fortune he ever possessed to the patronage of Sir Walter Scott, and was, however undesignedly, a main cause of Sir Walter's pecuniary difficulties and disasters, by reason of his indolence and negligence as the manager of their joint concerns. He LETTER TO SIR ADAM FERGUSSON. 3 is made to talk of me as never having known the younger of the brothers " at all," (p. 19.) He himself was about three or four years of age when I saw his uncle laid in the grave. He was a lad of fifteen or sixteen when he he had the misfortune to lose his father. I do not wonder that he should have lent willing ears to the real authors of this pamphlet, when they told him that my representa- tions of both father and uncle were " gross caricatures." Nay, I am candid enough to go farther. I think it pos- sible that such of these real authors as were in the em- ployment of the elder Ballantyne, may have regarded him from a point of view not over favourable to cor- rectness of vision. Such persons were themselves, per- haps, of importance in circles of their own, as having been connected, however subordinately, with the grave Baskerville of the Canongate. I can make allowance for their feeling some little surprise when the giant on whose shoulders themselves had been perched, was seen shrinking to a very ordinary stature. But neither were these the chief artificers of this imposture. It was mainly and substantially the work of Trustees, who knew better. These did know the men they were writing about, as well — I must add — as the true history of their transac- tions. They know very well, that what are called carica- tures, may nevertheless be more true and lifelike repre- sentations, than those which flattering limners are hired to execute for the gratification of personal or family vanity. They know, that in the case of these Ballantynes, the follies and absurdities which met every unfilmed eye in their personal manners and habits, were too " gross" to be susceptible of caricature. They know that you might as well talk of caricaturing Mathews in Jeremy Diddler, or Liston in Malvolio. They know that Bunbury, Gilray, and H. B. rolled into one, could never have caricatured either the pompous printer or the frivolous auctioneer, of 4 LETTER TO SIR ADAM FERGUSSON. whom the one groaned, and the other chirped, when they gathered from Charles Mathews's exquisite mimicry, that their " illustrious friend" had christened them respec- tively his Aldiborontiphoscophornio, and his Rigdum- lunnidos. These gentlemen can hardly have failed to see why I introduced detailed descriptions of their comrades. The most curious problem in the life of Scott could receive no fair attempt at solution, unless the inquirer were made acquainted, in as far as the biographer could make him so, with the nature, and habits, and manners of Scott's partners and agents. Had the reader been left to take his ideas of those men from the eloquence of epi- taphs — to conceive of them as having been capitalists instead of penniless adventurers — men regularly and fitly trained for the callings in which they were employed by Scott, in place of being the one and the other en- tirely unacquainted with the prime requisites for suc- cess in such callings — men exact and diligent in their proper business, careful and moderate in their personal expenditure, instead of the reverse ; had such halluci- nations been left undisturbed, where was the clue of extrication from the mysterious labyrinth of Sir Walter's fatal entanglements in commerce? It was necessary, in truth and justice, to show — not that he was without blame in the conduct of his pecuniary affairs — (I surely made no such ridiculous attempt) — but that he could not have been ruined by commerce, had his partners been good men of business. It was necessary to show that he was in the main the victim of his own blind over- confidence in the management of the two Ballantynes. In order to show how excessive was the kindness that prompted such over-confidence, it was necessary to bring out the follies and foibles, as well as the better qualities of the men. LETTER TO SIR ADAM FERGUSSON. 5 Before I proceed to business, I may as well toss aside two or three dirtinesses, volunteered parentheti- cally. It is insinuated, that when John Ballantyne's repositories were examined, on his death in 1821, Sir Walter Scott, one of his executors, " took charge of," that is to say, carried off without right or warrant, a certain "Collection 11 of the defunct's papers; and that I, fifteen years afterwards, equally unwarrantably and unrighteously made use of these same papers for the disparagement of John's character, lmo, The collection of papers which Sir Walter " took charge of 11 consisted of his own private letters to John Ballantyne, pasted by John into a folio volume, inscribed on the back, in John's handwriting, " open not, read not. 11 This volume was found at Abbotsford, some time after Sir Walter's death, and transmitted to me in London. I knew nothing, and could know nothing, of how it had found its way to Abbotsford, but most undoubtedly considered its contents as at the disposal of Sir Wal- ter's executors. It was, evidently, their lawful pro- perty ; and I now know that John's Trustees handed it to Sir Walter the moment they ascertained what its contents were, on the ground that nobody but he could have any right to it. But, Mo, The Pam- phleteers assume that the " Collection" included the Autobiographical Sketch of John Ballantyne's Life, which I printed in my fifth volume, p. 77. It did not. That Sketch is in the possession of a most re- spectable gentleman in Edinburgh, who has a fancy for autographs. I have not the honour of his acquaint- ance, but he, considering the document as a curious one, courteously placed a copy of it at my disposal, through Mr. Cadell, my publisher, long after I had become quite familiar with the still more curious con- C LETTER TO SIR ADAM FERGUSSOX. tents of the " Open not, Read not" volume. If the Pamphleteers will apply to Mr. Cadell, his friend will r.o doubt open to them the original, with all the names which I read, but opened not. Willingly would these delicate worthies have inscribed " open not, read not," upon more and weightier documents than poor Johnny's fragment ! But, 3tio, I did not print that fragment with any design of disparaging the auctioneer's memory — exactly the reverse. It was introduced for the purpose of proving, as far as any thing could be proved by a document in that handwriting, that John's volatile spirit, in spite of all its levities, had room for some serious im- pressions — one of bitter anguish connected with the distresses to which his early improvidence and folly at Kelso had reduced him — and one of deep and lasting gratitude towards the man who rescued him then, and sustained him ever afterwards. Had I been disposed to dwell on the darker side of things, at the very moment when I was commemorating his death and funeral, the Fragment might have afforded me ample scope. I could easily have shewn, for example, the extravagant absurdity of John's assertion that the bookselling business conducted under his name left, when finally wound up, a balance of £1000 to the partners. There could have been no great difficulty in showing, that at the date (1817) of his alleged balance of £1000, his name was on floating bills to the extent of some £10,000, representing part of the debts created by his own almost insane recklessness of mismanagement. But I saw no necessity for going into any such criticisms. If my reader had had any- thing proved to him, it was, that Scott lost a fortune by the bookselling speculation, in place of pocketing a profit by it when the accounts were closed. If, LETTER TO SIR ADAM FERGUSSON. ( however, any reader of the book could have doubted that fact, the sequel of this letter shall satisfy him. Another point, extraneous to the merits of the case, may be as shortly dismissed. These " llefuters" have considered themselves at liberty to print some fragments of a private correspondence which passed between James Ballantyne and myself within a few days after Sir Walter Scott's death, and when James himself was in very bad health; and they are pleased to dwell on the kindly tone in which I then addressed him, as present- ing a striking contrast to that of some chapters in the Memoirs of Scott, inasmuch as the letters in question "must have been written at the very time when I was concocting" my so called " calumnies." They have the grace to speak of my " literary duplicity!" These are nice men, in the sense of Swift's definition — that is, men with nasty ideas. I was not quite in such a hurry as to be " concocting" a book about a friend and pa- rent before he was cold in his grave. My correspondence with James at that time originated in circumstances to which I would willingly have avoided any recurrence. To the coldness that had arisen latterly between him and Sir Walter, I was no stranger — and I think any candid reader will allow, that in my narrative I traced it fairly and regretfully to the irritability of hopeless disease — for I expressed my conviction (Life, vol. vii. p. 289), that had Sir Walter been " quite himself," no change in James's views as to politics or religious dogmas — far less the frankness of his critical notes — could have pro- duced such an effect. I had given James credit for coming to the same conclusion on that melancholy sub- ject; and therefore, in common with the rest of Sir Walter's family and immediate friends, I certainly con- sidered it as strange, that during the last dismal months 8 LETTER TO SIR ADAM FERGUSSON. of Abbotsford, this early associate neither came thither himself, nor sent, nor wrote, to make inquiries or tender condolences. His non-appearance at the funeral, above all, surprised and vexed me, and the impression then made was conveyed to him, I know not by whom, to- gether with the particulars of Sir Walter's Last Will. He then addressed to me the following letter, which, in my answer, I might well characterize as a " manly and touching" one. " To J. G. Lockhart, Esq., Regent's Park, London. " Edinburgh, No. 1, Hill Street, Oct. 28, 1832. " My Dear Sir, " I write to you in circumstances of very considerable suffer- ing: in fact, I have been confined to a sick-bed for the last three months, not much short of fifteen hours daily, and with no very clear prospect of emancipation. But still I am very anxious to write to you a few words, briefly explanatory of some points in my conduct to my late illustrious and beloved friend, and which I know to have been misconceived both by yourself and the other members of his family. " Ever since my adoption of the principles of the Reform Bill, Sir Walter Scott's conduct, to a certain degree, changed towards me; and as the measure progressed, and also, I may say, as his health diminished, the indicia? by which the change was made manifest became more and more conspicuous, till at length, after changing his address to me from ' Dear James,' to ' Dear Sir,' — ' Sir,' — the thing closed by his positively, and for several months, refusing, or at least declining, to write to me at all. During the whole period of his writing his last productions, he confined his correspondence to my overseer and other servant.--, although I had persisted in writing to him in my usual vein of frank criticism, con- scious that it did not become me to teaze him with any marks of my feelings on the occasion. " This is not all. I had always in the course of every year been invited by Sir Walter Scott three or four times at least to Abbots- ford ; and I may add, that I do not believe it ever chanced that LETTER TO SIR ADAM FERGUSSON. [l I visited him during our long intimacy without having heen en- couraged and authorised by such an invitation. I might have done so, and have no doubt that, if I had, my reception would have been most welcome; but what I desire to point out to you is, that I never did do so. All these feelings and considerations, on which I will no longer dwell, made me think it advisable to abstain from going to Abbotsford during nearly the whole last twelve- months of his life ; not that I was such a flagrant nincompoop as to have indulged in any pet or spleen against that illustrious man, and my most dear friend and benefactor, but that I really dreaded that my presence might carry increased acrimony into his feelings, and thereby injure his health and tranquillity. Had I obeyed my own emotions of respect and love, and been freed from this dread, 1 should have hurried to indulge in his society, if not to express the depth of my grief and sympathy. " Surely, my dear Sir, this is enough to say, and I say it with confidence, because I am sure that you will believe it. No — there is scarcely a man living who venerated Sir Walter so much, or who laments him more profoundly. I have now to conclude with the more immediate causes which have led to this intrusion on your leisure. " I find, that betwixt sickness and agitation immediately fol- lowing his death, I hastily and imprudently committed myself, by pledging my exertions to the readers of the Journal * to recall and record, should my health permit me, sundry anecdotes of the de- parted, known only to myself. I beg leave to say, in three unce- remonious words, that 1 now trample upon this pledge, by which I now find, what I should have seen from the beginning, that I should thus enrich paltry scribblers at the expense of those who merit to know all that I can tell them on this interesting subject. I beg you will therefore understand, that I shall not permit an- other week to elapse without endeavouring to recall and relate, whatever my memory has been treasuring up during the last fifty years — for it is not less — regarding my intercourse with Sir Walter Scott. Mind, I do not say that they are very numerous, but they shall all be authentic, and a large proportion of them eminently characteristic. You will, of course, desire to have no more than the mere materials, and indeed I hardly expect to be * The Edinburgh Weekly Journal, of which James Ballantyne was Editor. 10 LETTER TO SIR ADAM FERGUSSON. able to put them much into shape ; but this is to bring no dispa- ragement on my taste, for I shall give you them all unboulted. I fear me I have few letters of any the least consequence, for our epistolary intercourse was chiefly on matters of business ; but my brother will look them carefully over, and send you all those that may appear to him to have any value. In short, with all the feel- ings of the fly on the wheel, I beg to assure you ' of my zealous co-operation.' — I am, my dear Sir, very faithfully yours, James Ballantyne." The result of the correspondence thus begun, was that I received from Mr Ballantyne very shortly before his death, the scattered memoranda of his intercourse with Scott, which were, three years afterwards, inter- woven into my book, and which, when I did make that use of them, I of course still considered as " curious," and " precious ;" though by that time, unquestionably, I could not by any means have been justified in describing them as containing data sufficient to " keep me right," as to the most important parts of Scott's connexion with his printer. No. The materials for Sir Walter's bio- graphy were not to be collected either easily or rapidly. Many months elapsed after James Ballantyne's death, before I even dreamt of beginning to arrange and study them, and after I had begun, I was repeatedly thrown back, or called to a halt, by the unlooked- for arrival of fresh documents. The Ashestiel Frag- ment was, as mentioned in my preface, one of these discoveries. The " Open not, Read not" volume was a second — and one which was of itself sufficient to per- plex some, and reverse others, of the notions which I had previously entertained concerning both the Ballan- tynes. A third, of even greater moment, was a packet of States and Calendars in the handwriting of John — this turned up in 1835. A fourth revealed various con- fidential letters from the two Ballantynes to Scott, la- LETTER TO SIR ADAM FERGUSSON. 1 I belled by Sir Walter's own hand, " Important." These were discovered in consequence of a last scrutiny under- taken at my earnest request, so late as 1836 — by Mr Cadell, my publisher, and Mr Isaac Bayley, the confidential agent of the present Sir Walter Scott. It was from the documents thus gradually disinterred, but mainly upon the authority of the two last budgets, that I adopted that view of Scott's connexion with the Messrs Ballantyne, which my work presents. And, before the reader closes this letter, he shall have enough of evi- dence, that had I been disposed to deal harshly by those persons, I might have used language severer by a great deal than I did employ. He will be satisfied that I confined myself strictly to what I considered as necessary for making out my broad case — that over James, espe- cially, I stretched the veil of charity with no grudging hand. Even now I scorn to withdraw it one inch farther than these rash " Refuters" have made absolutely ne- cessary for the defence of Sir Walter Scott's outraged memory, and of my own good faith as his biographer. It is not very easy to analyze this pamphlet. Topics, persons, circumstances, above all dates, are so porten- tously jumbled throughout, that I should think no reader of ordinary sagacity can proceed far without asking if it be possible that any man could adopt such a plan for telling a true and consistent story. They begin with John Ballantyne's early adventures in Kelso and Lon- don, jump to some correspondence between him and Scott in 1813, and then dismiss him abruptly with something about his funeral in 1821 — prudently allud- ing to no one incident of the least importance in his connexion with Scott. Then they skip to 1800, and the advice that Scott gave in that year to James Bal- 12 LETTER TO SIR ADAM FERGUSSON. lantyne, with the formation of their first partnership in 1805. After this they keep no arrangement what- ever : — printing concern and bookselling concern, first contract of partnership, second contract of partnership, personal debts, company debts, States, Calendars, Led- gers, private letters, bills, discharges — all the affairs and documents of nearly thirty years are intermixed in every possible wantonness of perplexity. At p. 27, they are busy with a Memorandum of 1823. Immediately after this they take up a Contract of 1822 (p. 28.) From 1822 they spring to 1826 (p. 29); from 182G they wheel back (p. 51) to January 1825 — from that they wheel still farther back (p. 55) to 1822 again; — the next page is stuffed with absurdities about accounts be- longing to 1826, 1827, 1829, 1830 : at p. 59, we have them once more deep in 1822 ; at p. 62, ditto ; at p. 63 they are again in 1826 ; at p. 67 they are in 1833 ; — and after various other ingenious turnings and twist- ings, these disciples of Dogberry, " primarily and to conclude," at p. 73, invite our attention " first of all" to an occurrence of 1808 ! Amidst so many windings I may not be able always to follow them — but I shall at least endeavour to keep strictly to the order of Time. The main statements in my narrative which they undertake to refute as " Misrepresentations and Calum- nies" are, as they quote over and over again my words, that " both the Ballantynes deeply injured Scott as men of affairs," and that " the day of his connexion with John, in particular, was the blackest in his calendar." But though they begin in a high key about John, they in effect care nothing for him ; they even seem willing to allow the substantial accuracy of everything I said of him, except that his states and calendars were such as Sir Walter Scott never could have understood. I am LETTER TO SIR ADAM FERGUSSON. 13 sorry to say I shall now be obliged to prove that they were such as could not have been prepared for any pur- pose whatever but that of mystifying Sir Walter. James, however, is their hero. He is the much-injured, innocent martyr, whom they are to vindicate from all reproach. I had alleged against him no worse offences than those of carelessness and negligence in the management of his commercial affairs. We shall see presently how he comes out of the more rigid scrutiny which his idolizers have forced upon me. The pamphleteers announce, that " by plain facts, authentic documents, and indisputable evidence," they will refute " every imputation derogatory to Mr [James] Ballantyne." They assert, that " so far from Sir Walter Scott having been injured by his connexion with the Ballantynes, he was thereby greatly benefited"; that " his own large expenditure absorbed the whole profits of the printing establishment, and much more besides; in- volving the elder brother in ruin at a period of life when, from the nature and extent of his business, he might otherwise have possessed a comfortable if not an affluent independence." " It is evident," say they, " that Mr James Ballantyne was eventually ruined by Sir Walter Scott." " His whole share of the profits, deducting the expense of his family, was floating in the business at the command of Sir Walter. He had cast his bread upon the waters, but it did not return to him after many days of labour and sorrow. He lost all. Not a wreck was saved — not even his house, which had been bought with his wife's fortune, and which, in the fulness of his con- fidence, he had not taken any means to secure to her and her children." The partnership between Scott and James began in May 1805; and the Trustees of the latter carry back 14 LETTER TO SIR ADAM FERGUSSON. their charges against the former even to that early date. " The profits of the printing concern," they say, " were at that time twice as large as those that are generally derived from this business now-a-days ; and if they had been applied to their legitimate purpose, they would soon have unwoven the meshes of any entanglement proper to the business." Thus, according to these gentlemen, there Mere " en- tanglements proper to the business" before Scott joined it, and had he not joined it to apply its profits to illegi- timate purposes — that is to say, " his own large expen- diture" away from the business — those entanglements must soon have been unwoven. Scott, in short, was from first to last the incubus. His alliance was no sooner formed, than the profits were misapplied for his " private objects." Mr. James's share of the profits (" deducting the expense of his family," elsewhere and repeatedly described as " frugal,") was from first to last " at the command of Scott." Such was the fulness of James's confidence, that he even left his wife's fortune at the mere mercy of this " all-absorbing" partner. He cast his bread upon the waters — but it did not return. He lost all — he w r as ruined — simply, and solely, in con- sequence of his luckless connexion with Sir Walter Scott. Any person ignorant of the whole history of the men, except in as far as these Pamphleteers think fit to en- lighten him, would of course conceive, after reading such passages as the above, that James Ballantyne began life with a handsome capital — established for himself by his own unassisted industry and merit a flourishing (though " entangled") business — in a rash hour admitted a needy and unprincipled literary adventurer into partnership with him — soon perceived that the connexion was most bane- LETTER TO SIR ADAM FERGUSSON. 15 ful to himself — (for, as he always had the hooks in his possession, and received and paid every sixpence, he must have known who engrossed and diverted the profits, Scott at no time and under no circumstances, so far as 1' have been able to discover, having ever subscribed the company firm) — yet, under the influence of some inex- plicable infatuation, persisted in maintaining the bond unbroken, until both he and his " frugal" family were beggared, towards the decline of his life ; by which time, had his original capital, character, and industry been allowed fair play, he must have been in a condition to retire upon a plum. I shall not imitate the tellers of this story, by begin- ning with false assumptions, confounding dates, mangling accounts, piling one stupid or audacious blunder on an- other, and then ending with a dirge for a phantom. Sir Walter w T as the descendant of an honourable family — the son of a wealthy father. His patrimonial fortune, including bequests from an uncle and an eider brother, was not less than £10,000 — it probably reached £12,000. At the period when he first became James Ballantyne's partner, he possessed, independently of his literary re- sources, an income of about £1000 per annum. During the two or three years preceding their connexion, he had been so far from suffering under any shortness of means, that James acknowledges to have received two " liberal loans" from him. Scott formed a partnership with his debtor. The Pamphleteers speak of the father of the Ballan- tynes as a man " in easy if not affluent circumstances." At some period of his life he may have been so, with reference to the scale of things at such a place as Kelso, and his station there. His shop was one of a kind still 16 LETTER TO SIR ADAM FERGUSSON. common in little country towns — the keeper of such a shop is vulgarly styled a " Johnny Allthings." " From yonder window, in the solar beam, Red plushes blaze, and yellow buttons gleam ; Here soap, ink, stamps, and sticking-plaster mix With hymn-books, Harvey's sauce, tea-trays, and candlesticks." The second son (Rigdumfunnidos) was, on his return from London, " entrusted," says the pamphlet, " with one department of the business." This " department' 1 was the tailoring one, — and I have been told that Rigdum was considered as rather an expert snip among the Brum- mells and D'Orsays of Kelso. His autobiography con- fesses that his devotion to sport and hardliving gradually but effectively destroyed his "department;" and not being aware, until lately, that the father was alive when that was accomplished, I inferred — from John's language about his " goods and furniture with difficulty paying his debts" — that at the time when he was " left penniless," the shop at Kelso was shut up altogether, and that, as happens almost always in similar cases in Scotland, the " goods," &c. were disposed of by auction. The Pam- phleteers may or may not be right in contradicting me upon these particulars — but of what consequence are they? Johnny admits that he was left "penniless;" and the reader will presently see reason to conclude that the " easy, if not affluent" circumstances of the old man took the opportunity of vanishing about the same epoch. Certain it is, that precisely at the time when Scott entered into partnership with James, John appeared in destitute plight in the Canongate, and was fixed on the new firm as " clerk," with a salary of £200 ; that the father and mother were then, or very soon after, esta- LETTER TO SIR ADAM FERGUSSON. 17 blished likewise in Edinburgh; and that, if there be any faith in the Accounts of the printing company, the old people also were thenceforth supported at its ex- pense. It is impossible to gather from the Accounts what capital James had really invested in the concern when the deed of copartnery (March 11, 1805) was executed. Johnny, the book-keeper, enters it as £3694 : 16 : 11 ; but the balance-sheet of the following Martinmas shows, that of this sum £2090 represented " stock in trade," — and that £1604 : 16 : 11 represented book debts due to James. What proportion of these book debts was ever recovered I cannot trace; and the " stock in trade" was certainly not clear. It is shown by the same sheet, that in the course of the year to which it refers, four payments (amounting to £145 : 11 : 3) had been made by the Company for types, &c. purchased by James pre- vious to the formation of the copartnery ; and other payments of the same class figure afterwards. The accounts, in fact, leave no doubt that when the contract of 1805 was signed, James was largely in debt both in Kelso and in Edinburgh. Nay, it will be shown very shortly, that an ingenious attempt was made to esta- blish £500 of his nominal capital out of a cash-credit to that amount with the Royal Bank of Scotland — for which Scott was sole security! However, the deed bears that Scott was to advance £2008, a sum equal to Ballantyne's stock in trade, " including in the said advance the sum of £500 contained in Mr Ballantyne's promissory-note dated 1st February last, and £40 also advanced to Mr Ballantyne" — Scott to have one-third share in the concern, Ballantyne two-thirds — his extra third being his remuneration as manager. In the first State the very first entry is a payment on 18 LETTER TO SIR ADAM FERGUSSON. behalf of James Ballantyne for " an acceptance at Kelso, £200"; and a few lines lower we have, " Advances to his father, £270 : 19 : 5." In addition to the above, James's private expendi- ture during the first six months of the partnership was — he being then, and for eleven years afterwards, a bachelor, — £722:1:1. According to the Pamphleteers, Scott induced James to come to Edinburgh for "private objects" — which objects were attained as soon as he was installed as James's partner — since, from that unhappy hour, simple James left his " profits floating in the business at the command of Sir Walter." For the hero of such a tale, it must be allowed James starts well. During the first six months of the concern his profits, according to his own Accounts, were - £366 14 11 His monied drafts were, according to the same documents, for the same period, £1193 6 For the second half-year, reaching to Whitsunday 1806, his gains amounted to ... . £419 15 4 His drafts to . . ' . . £1185 4 3 James's profits, therefore, for the first year were, . . . . . £786 10 3 Drafts for ditto, . . . £2378 4 9 Excess of drafts over profits, £159 1 14 I i ! Scott, the one-third partner, has for the same year, — profits, .... £393 5 1 His drafts were three sums — one of £20, one of £30, and one of £50, = £100 In short the " all engrossing" Scott, being entitled to about £400, drew from the concern £100; and the LETTER TO SIR ADAM FERGUSSON". l!) hapless victim, James Ballantyne, having a right to less than £800, took £2300. Thus far, no question, Scott had a fine prospect of realizing the " private ob- jects" which induced him to lure the unsuspicious printer from Kelso to Edinburgh ! It will surprise no one who considers that printers' profits are not realized on an average under from fifteen to eighteen months, and observes the egregious dispro- portion of James's expenditure to the amount of his nominal capital, and even of his anticipated profits, — it will surprise no one to be told, that the Accounts of the concern, even in this first year of its existence, prove that recourse had already been had to accommodation paper. Three bills of that class are in the balance-sheet, amounting together to £450. Neither will any one wonder that, when the year's accounts were to be ba- lanced, it was found necessary that some serious effort should be made to increase their available funds. Scott, accordingly, on the 13th May 1806, advances £1000 more to the joint stock, and James pays in £500, bor- rowed by him from Mr Creech, bookseller. During the next year, ending Whitsunday 180", Ballantyne's profits are entered as . £960 11 7, and his drafts as . . . . £816 9 10; but either the profits should be diminished, or the drains increased, by the two-third partner's share of John Bal- lantyne's salary as Clerk — which has been omitted, in making up the State, as a charge against the business. To Scott's profits and drafts for the same period the same remark applies. The former are stated at £480 5 1 The latter at .... £75 The accounts show an increasing amount of accommo- dation-bills. Between Whitsunday and Martinmas 1807, Janus 20 LETTER TO SIR ADAM FERGUSSON". again largely overdrew. The book-keeper enters, " Drafts on personal account," . £502 18 4 ? — Ditto " on his father's account," . £208 11 2; and, as if ashamed for once of these extravagant drains, as contrasted with a capital of £3000, part avowedly borrowed, he adds a note, which I must transcribe for your edification : — " In J. B.'s personal expenditure of this half-year is included the interest he was due at last Whitsunday, all his taxes for the past year, and a horse and chaise fur his mother, besides an old account of furniture due Trotter, of £86, settled and paid this one half-year, — these cause it so much to exceed the last." The payment of interest here recorded shows that James's demands on the concern were in part occasioned by old original personal debt ; and it seems equally need- less to go into farther proof, that from the time of their migration to Edinburgh, his parents depended both for luxuries and necessaries on the freedom with which he felt himself entitled to overdraw those profits which the Pamphleteers consider as having " lain floating at the command of Sir Walter." On the whole, between Whitsunday 1805 and Mar- tinmas 1807, it appeal's that Scott's drafts on the busi- ness came to £300 : 4 : 3 — James Ballantyne's to £3900 : 4 : 1 ! ! ! About this Martinmas 1807, Scott seems to have con- ceived some suspicions as to the real amount of the capital which his partner had put into the concern. I have not seen the letter in which he requested explanation, but the answer to it, in the handwriting of the book-keeper John, is before me. That answer had not satisfied Scott ; and John's reply to another missing letter is also in my possession. I need not trouble you with either of these performances in extenso ; but I must extract the parallel LETTER TO SIR ADAM FERGUSSON. 21 passages touching James's cash-credit with the Royal Bank, because they illustrate, among other things, the veracious consistency of Mr John. In the first letter Mr John says — " When you formed your arrangements with James (to which chiefly is owing what he now is), I understood you were aware that he was not clearly worth the .£2090 stock of which he was at that time in possession ; but that there were not only debts upon it, but other engagements which he was bound to fulfil. Nevertheless, that this property, being tangible and present, was taken as his clear stock, subject only to be reduced by such drafts of money as he should actually make on the funds of the company. A part of this stock Mas created by a cash-account which he held with the Royal Bank. " The extension of the trade and buildings rendered it necessary for you to make further advances ; and as it was needful also for him to make equal advances, in order to maintain his equality of stock, he borrowed the money requisite ; and it appears to me that there exists no other difference betwixt the loan which he has from the Bank and those he has had from individuals, than the circum- stance, that the one are lent for an indefinite period, and the other upon an open account." He proceeds to argue, that this cash-account is in the same situation with any other advance — " It is a responsibility on the monied partner certainly, but where there is so much realized property above all risk, and a proper confidence in the fidelity of statements, it is not a danger- ous one." In the second letter Mr John writes thus : — " At the commencement of the Company, James Ballantyne's personal stock was taken to credit as his share of the joint stock of the company. This consisted (as per private ledger), of house in Foulis' Close, presses, types, materials, &c. &c. ; but in it was not included the £500 due by him to the Royal Bank. His ad- ditional stock since has arisen from advances of money he procured as loan, as well as he did this £500." I doubt not Mr John found it extremely difficult to give a clear and consistent account of his brother's input stock, or to explain whence it came. In this 22 LETTER TO SIR ADAM FERGUSSON. second letter, he says, that amidst all the et cetera.* the £500 due to the Royal Bank was not included, and certainly it never ought to have been so; because a cash credit, for which both partners were equally bound, could not form a part of the stock of one of the partners. Nor was anything of the kind stipulated by the contract; in which, on the contrary, it had been settled that a separate stock account should be kept, after a " distinct valuation" of Mr Ballantyne's stock had been signed by the parties. But in the former letter, written nearer the date of the transaction, we are told that a part of the stock was created by this cash account, — that is, James Ballantyne created his stock by raising money on Scott's credit. Was this a fair and proper proceeding? and where is the proof that it ever was put in its true colours before Sir Walter ? Mr John, you see, expressly designates him as " the monied partner," and admits, that his responsibility would be very dangerous, but for " proper confidence in the fidelity of statements." Scott's confidence was indeed very considerable, when he could go on, although the book-keeper either would not or could not tell him what Mr James's original stock actually consisted of! The rest of this second letter is occupied with sundry apologies for the disagreeable condition of the concern, resulting from Mr James's drafts so largely exceeding all rule : Mr John is of opinion that nothing of this kind " can" occur again ; but a sinking fund ought by- all means to be established for the liquidation of encum- brances ; and, he says — " It is therefore my decided idea, that the company should take, from the partner willing to advance it, £1100 more at the trade allowance of fifteen per cent ; and that the sinking fund should be appropriated (if not occupied in a still farther extent of trade), towards his repayment." LETTER TO SIR ADAM FERGUSSON. 23 This proposal was agreed to. A minute was signed by Scott and James, by which it was agreed, that the whole stock should be constituted as at £6000, of which £3000 was to be held as the stock of each ; — " But in the event of either partner's placing or allowing to lie in the funds of the Company any sum exceeding their share of the capital, such partner is to receive on such advance a trade profit of 15 per cent." This was quite a fair stipulation, and was in truth nothing different from sharing the profits in a form perhaps the most dangerous to the monied partner, who would have found himself called on to increase his advances should the concern have begun to labour. Scott continued, as we shall see, his advances ; but the accounts and letters afford no evidence of his ever receiving interest upon any of them except once or twice ; — consequently he made a present to his partner of the difference on all subsequent balancings. James, it is already needless to say, never had any overrunnings of that kind. Notwithstanding all the promises of carefulness as to future expenditure by which Scott was lulled, no amendment took place. One balance State (that fol- lowing the horse and chaise one), is amissing ; but such as they were, the rest are now before me, and the result (one half-year omitted on both sides), is, that — from Whitsunday 1805, when the company commenced, to Martinmas 1809, when all attempt at making out regu- lar balances seems to have been dropt on John's removal to a wider sphere of mischief — during these four and a half years, Mr James Ballantyne's profits are recorded as £3936 9 10 His personal drafts, .... 5963 12 3 Mr Scott's profits as . . . 1968 4 11 His drafts as 1391 2 3 24 LETTER TO SIR ADAM FERGUSSON. Thus, while Scott left undrawn of his share of the profits the sum of £577 : 2 : 8, the careful and prudent tradesman, James, had overdrawn his share by no less than £2027 : 2 :5. So far as to the drafts of the partners. Now see how the money department of the business was conducted. Throughout this period accommodation-bills had been constantly increasing*, and " the monied partner" had been compelled to make repeated advances. These new advances (subsequent to the £1000 in May 1806) are summed up in November 1809 at £3000. I say they are massed tog-ether for convenience sake, as making that sum ; for it is plain that the money had been sup- plied in driblets from time to time, to meet the exigencies of the mismanaged concern, not in one or a few consider- able payments, under the temptation of a trade rate of interest. James also, during this period, had increased his nominal share of the stock, but whatever he paid in for that purpose appears to have been borrowed from private friends — Mr Creech, a Miss Bruce, &c, — repaid of course at a subsequent period from the Company funds ! We have now reached the date at which the ill-starred bookselling firm was set up, and hitherto John Ballan- tyne has appeared only as a clerk to Scott and James. Looking to the period when these alone were principals, how do the facts bear out the grandiloquent sketch of their relations, which gives the key-note to the whole of the pamphlet I am examining ? Even this fragment of the history I cannot pretend to explain completely; but I think I have shown that Scott was the only part- ner who brought any ready money into the business, and that his drafts on it were extremely moderate ; that James was in debt when it began, had no legitimate resources whatever but what it afforded, and commenced LETTER TO SIR ADAM FERGUSSON. 25 and persisted in a system of most extravagant persona! expenditure, to the grievous embarrassment of those re- sources. Scott in those days had neither bought land, nor indulged in any private habits likely to hamper his pecuniary condition. He had a handsome income, no- wise derived from commerce. He was already a highly popular author, and had received from the booksellers copy-monies of then unprecedented magnitude. With him the only speculation and the only source of embar- rassment was this printing concern ; and how, had the other partner conducted himself in reference to it as Scott did, could it have been any source of embarrass- ment at all ? He was, I cannot but think, imperfectly acquainted with James Ballantyne's pecuniary means, as well as with his habits and tastes, when the firm was set up. He was deeply injured by his partner's want of skill and care in the conduct of the concern, and not less so by that partner's irreclaimable personal extrava- vagance ; and he was systematically mystified by the States, &c. prepared by Mr John. In fact, every balance sheet that has been preserved, or made accessible to me, seems to be fallacious. They are not of the company's entire affairs, but of one particular account in their books only — viz. the expenditure on the printing work done, and the produce of that work. This delusive sys- tem appears to have continued till the end of 1823, after which date the books are not even added or ivritlcn vp. But I am anticipating. Keeping to the early period prior to the bookselling adventure, it is, I think, clear, that James was in difficulties of his own creation before the partnership of 1805 commenced; and that, if Novem- ber 1809 found him a deeply embarrassed man, this was not in the slightest degree the result of his " profits" having lain in the business at the command of Sir Wal- c 26 LETTER TO SIR ADAM FERGUSSON. ter, but chiefly, certainly very largely, of his having lived (a young bachelor, bred in a quiet family in a country village) at a scale of expense unsuitable to his station, and unjust to his partner. And, however the senior Pamphleteers may choose now to disguise the fact — however little the facts of the case may have been understood by the lad whom they place in their front — both James and John Ballantyne have left abundant testimony of their conviction, that the concern thus dealt with owed all its original chances and opportunities of success to the personal influence of Scott. It may be enough at present to quote the following passage from one of John's explanatory and deprecatory letters of Martinmas 1807. He there says : — " Allow me to add, Dear Sir, that the pecuniary sacrifices yon have made for the welfare of the business have been duly appre- ciated, and deeply felt. ... I assure you, much as you have done in a pecuniary point of view, that has been a very subordinate consideration in our estimate. The assistance rendered by you otherwise was altogether unattainable, and it is to the continuance of that upon which the business must depend for its advancement and success." The Pamphleteers are very indignant with me for having signified a suspicion that John Ballantyne's per- sonal ambition had some share in starting the book- selling house at the end of 1809 ; and they insist on tracing it wholly to Scott's disgust with the behaviour of Constable, or rather of his then partner Mr Hunter. In the Life of Scott, I told all I knew about the quarrel with Hunter, and gave full allowance for Scott's feelings. But, firstly, John Ballantyne's recipe upon every occa- sion of embarrassment was extend your adventure ; and. secondly, he was an exceedingly vain, presumptuous, LETTER TO SIR ADAM FERGUSSON. 27 and aspiring little fellow, and who that knew him can doubt that, of all the parties concerned in this new speculation, the one most zealous for starting it was he who had been for five years rilling the humble position of clerk to the printing-house, and now saw the chance of presenting himself to the world in the comparatively- elevated character of Walter Scott's publisher, and Archibald Constable's rival? Was I to forget the old rule, Cui fuit bonum? But the point is of no sort of con- sequence. The only questions I am really concerned in are, Did not John most egregiously mismanage the new business? — and, especially, Did he not harass, torment, mystify, and deceive Scott throughout the whole period of its existence ? The Pamphleteers try to kick up some dust about trivial secondary circumstances, but it appears to me that they give a reluctant assent to my view of these two questions. As to the second, indeed, it would have been rather too brazen even for them to contest distinctly the evidence of the letters between Scott and the Ballantynes, which I printed in my third volume. If ever there was clear proof of one partner's being kept systematically in the dark by another, those letters furnished it : but I shall by and by give a few more specimens ex abundantia. It appears that I had examined the legal deeds in my hands too hastily, and was wrong in saying that Scott was only a one-third partner in the bookselling affair : he had a half in the adventure, the other half being divided between the brothers. The documents show further, however, that Scott alone came down with money for the start : at all events, when he put in £1000 for himself, he lent James the £500, which was at the same time entered as that partner's share ; and he further ad- vanced to the publishing house in June 1810, £1500 in 28 LETTER TO SIR ADAM FERGUSSON. cash ; * bringing his total capital embarked in the two concerns at that date up to £9000, The Pamphleteers try to rescue their hero James from all blame in the embarrassments which soon gathered round the bookselling concern, by the bold averment, that this concern, in the management whereof James had but a subordinate part, occasioned new and unsurmount- able difficulties in the Canongate establishment, now wholly in his care, by running deep into its debt for printing. (See p. 24 of the " Refutation.") But this will not do. They are very willing to sacrifice John — but here I must defend him. As Scott alone had any money at stake in either of the concerns, it could have signified little to him eventually which of the two ran into debt with the other ; but Johnny's autobiographical fragment distinctly says: — " 1809 — already the business in Hanover Street getting into difficulty, from our igno- rance of its nature, and most extravagant and foolish advances to the printing concern. I ought to have resisted this, but I was thoughtless." In the Hanover Street company's State for 1810, I find the printing- house entered as its debtor for £928. And not to * All this distinctly appears from a memorandum in John Bal- lantyne's handwriting. " At the commencement of the publishing business Mr S. was to advance, without interest, to stock, £1000 for himself, and .£500 for James Ballantyne's capital. He did advance in cash — " 1809, " July 14 £900 "■ Aug- 10. In account, - - 100 his own £1000. " 1810, " July 11. James Ballantyne's capital, ad- vanced by Mr S. - £500 " June 18. Mr S. lent the publishing-house, in cash, - £1500." LETTER TO SIR ADAM FERGUSSON. 29 weary you, I shall add merely two or three extracts from the letters now before me. John, in the course of a very long communication to Scott, dated March 16th, 1813, says — " This business has always been more or less difficulted, by all its capital, and £3000 more, being lent the printing-office, and the necessity of keeping up this advance by discounting it from time to time. The profits of the office being nearly commensurate to the drafts made on it and the supplies of materials from year to year, this debt, once constituted, has never been reduced." On the same sheet James writes as follows : — " Dear Sir, I have read over this melancholy statement, and have in truth nothing to add to it. Amidst my vexation and ap- prehension, it is some consolation to me that I cannot charge myself with any undue negligence in my department. I have nothing to add, but my hope that I may not wholly lose your countenance and regard, which has for so many years been the pride of my life." On the 20th of the same March 1813, John thus resumes to Scott : — " I entered the business with nothing, and of course must ex- pect nothing, unless it is realized on a final balance. I think any money you choose to raise should be applied in liquidation of the printing-office's debt to this business, as it seems to me impossible that it can continue to maintain, even for any period, a loan to the office of £5000." So much for the heavy embarrassment brought on the Canongate business by its advances to the Hanover Street company ! Be it observed, that Scott had from 1811 come into the full enjoyment of an official income of £1600 per annum ; that he had produced by this time his three great poems, and received in copy-monies altogether not under £10,000 ; and that he had purchased no land except, in the course of 1811, the original farm at Abbotsford, price £4200. 30 LETTER TO SIR ADAM FERGUSSON. Now, for John's States, and mystifying mismanage- ment generally. It would be easy to fill a few, or a few dozens of pages, with figures — which very few persons would ever make even the slightest attempt to under- stand. But perhaps there are few who will not see at once the gross fallacy in the general summing up of John's very first State, June 27, 1810. This exhibits a debit of engagements to the extent of £7549 : lis; sundry credits — the valuations of most in a thorough rule -of- thumb style, — making in all £11,455 :4s. Under which John writes, — " Balance of trade in favour of John B. & Co. £3905 : 13s." Now, how is this " balance of trade in favour of John B. & Co." constituted? Read, and wonder. " Original Stock, . £2000 " Loan from Mr Scott, 1500 " Profit (besides support- ing the establishment), 405 13 0=£3905 13 0" Both the " £2000 original stock," and the " loan of £1500," ought, as everybody sees, to have figured on the debit side of the page ; and the £405 : 13s. and no more, should have stood as " balance of trade." I am sorry to bother you so much with figures — but it is really necessary to pause a moment on this audacity. This book-keeper wishes to persuade Scott that the Company is flourishing, and he bravely claims for the credit side of his sheet, first the original stock of L.2000, and then Mr Scott's loan of L.1500. Why. according to this mode of computing, the more the Com- pany borrowed, the more was the balanee of trade in its favour! If any other body had lent the L.1500, which is here taken as stock, surely John must have had perspi- cacity enough to see that this was not money belonging- LETTER TO SIR ADAM FERGUSSON. 31 to, but a debt due by the Company. So it would have gone against the balance of trade, and not in favour of it. But in stating the Company accounts, what difference did it make that Mr Scott was the person who had advanced the money — except upon the principle that lie was fair game for plundering? The Company was bound to repay him. It was still a debt, and not an asset — it was money to be repaid, and not a fund acquired. How Sir Walter could have shut his eyes to anything so plain — or seeing it, why he did not draw back from the despe- rate hazard in which he had already invested so much of his capital with such managers, — may be matter of wonder, and of deep regret. But what is to be said of the prudence — (I say nothing as to the candour) —of those who, under the pretence of defending the repu- tation of their deceased connexions, have ventured upon such a subject as this, and presumed to represent these Ballantynes as the dupes or the victims of their too easy benefactor ? A balance of trade of £3900 ought to have made a comfortable concern. John's own memorandum proves the reverse: — " 1810 — bills increasing — the accursed system of accommodations adopted." — And observe, this State refers to the half-year when the Lady of the Lake — the most popular and lucrative of all Scott's poems — was published ! This was John's formal State in June 1810. Before Martinmas came, Scott appears to have had considerable misgivings; and no wonder, after what we have just seen. On the 23d October, he writes to James from Ashestiel : — " I wish John to take an exact account of his quire stock, and compare it with his catalogue. This should be done every quarter at least. His last accounts 32 LETTER TO SIR ADAM FERGUSSON". state the stock roughly at ' from £7 to £10, 000.' Upon your part, my dear James, if you are not able to put the [printing] establishment on a more productive footing, the necessary, though unpleasant consequence must be, an abatement of the dividends to the partners for next Martinmas." A delicate hint — alas ! his hints to these gentlemen were all too delicate. To any practised eye that glances over Mr John's next State, Whitsunday 1811, it is plain that the con- cern in Hanover Street was already bankrupt. Before he received it, Scott seems again to have become appre- hensive and suspicious ; and had he handed the document to any experienced and honest brother of the trade, these feelings would not have been soothed by the grand items, — viz. engagements, £10,453 ; actual means inhand, £379 ; book debts, £4718; and stock, £9720. The amount of the debts due to the concern — (some bad, of course, some doubtful, none immediately recoverable) — being- only about £4700, while the funds on hand were under £400, any man of ordinary prudence would have looked with scrupulous anxiety to the manner in which the stock was estimated. It would have been rash to have taken it even tit prime cost, as although some of it might have brought more than that, much of it must have brought less; and plainly the only just method, even for imme- diate winding up, but much more so with a view to a division of profits, would have been to estimate the whole at what it would fetch. John could have been at no loss to make such a valuation. But how was the stock estimated ? I have not been furnished with the valuation of the particular year 1811, but I have no doubt it was made up, like that of 1812 and till that followed, at sale prices, or 10 per cent, on- LETTER TO SIR ADAM FERGUSSON. 33 der. In the balance now under consideration, it is put down, - - - £10,800 10 per cent, off, 1,080 £9720. It would have been very absurd to apply this sort of rule to any book-stock, even such as was likely to continue to sell well — for at best sales are but progressive; and be it observed, if this principle were once adopted in fixing the partnership stock, and dividing profits from year to year, it had the effect not merely of exaggerating the present value, but of putting every subsequent settlement on a wrong basis. In this concern, however, what sort of stock was thus estimated ? Any one in the trade who reads the names of the books will be satisfied of the gross fallacy which Mr John's reckoning exhibited. For instance, The Edinburgh Annual Register — on which from first to last there was a heavy annual loss — was taken into account as if every copy on hand were sold off immediately. For 8300 volumes of this unsale- able book, John coolly sets down in one of his valuations " £6640 ! " Then come large numbers of Hume's Eng- land, with Smollett's continuation, l6vols.8vo.,withroyal copies to boot; Miss Seward's Poems, 3 vols. ; Jamieson's Culdees, 4to.; Kerr's Voyages, 17 vols. 8vo.; Life of Lord Herbert, 8vo. ; Castle of Otranto, 4to. ; Northern Antiquities, 4to. ; Grahame's British Georgics, 4to. ; Tales of the East, 3 vols, royal 8vo. ; Popular Ro- mances, royal 8vo. ; Beaumont and Fletcher, by Weber y 14 vols. 8vo. ; and so on. We know from James Bal~ lantyne (see Life of Scott, vol. ii. p. 332,) that before the end of 1810 the advance on the lumbering quarto entitled " Tixall Poetry," had reached to £2500 ; and there can be no doubt that the work was a miserable failure, and abnost a total loss : Yet we have Mr 34 LETTER TO SIR ADAM FERGUSSON. John estimating the stock of this work at 42s. per volume the royal, and 30s. the smaller size. Ever}- journeyman in Paternoster Row who looks at such a catalogue will see that the whole stock of May 1811 was not worth one -half, scarcely one-third, of John's valuation. The capital was already altogether swallowed up, and more than £10,000 of debt incurred besides. Well then might James, in his memoranda (Life, vol. iii. p. 56), lament over the recollection that " the large sums received formed no addition to stock — that they were all expended by the partners, then young and sanguine men, who not unwillingly adopted his brother's hasty results :" in other words, spent pro/its which had no existence except in these humbugging States. I may truly call them so, when I look at the results they present. The debts were upwards of £ 1 0,000. The stock, if truly valued, could not be worth £5000, or anything like it. The whole book debts were stated at £4700, and could not be worth above two- thirds of that money. The means on hand were £379 sterling. The whole input stock was gone. Sir Wal- ter's £9000, put into this and the printing concern, was spent; and how spent we have seen. Such was the true state of the matter which ought to have been laid before him in 1811. John must have known this. But in place of telling him fairly — " We have computed our stock at the sale prices, — we have represented it at double its value, and in some instances stated our lumber at three times more than its worth, — our book debts are many of them bad, — our engagements exceed £10,000, — we have not £400 on hand, — will you go on deeper with this game, or will you stop now?" — I say, in place of telling the unhappy truth of the case — John indites a private note, accompanying the above-mentioned LETTER TO SIR ADAM FERGUSSON. 35 precious State-Paper of May 1811, in the following- terms : — To Walter Scott, Esq. " Hanover Street, May 23, 1811. " Dear Sir, " I beg to enclose documents to which I request your perusal and attention, as I think they are so plain that a little notice paid them will obviate the darkling sensations you have sometimes expressed yourself as entertaining respecting our affairs. I think it matter of great congratulation the first balance on the two years' trade, from which you will observe that your £1000 capital has grown £2064, being a clear profit of =£50 per cent, per annum. — I am, &c. &c. John Ballantyne," How could Sir Walter Scott understand the volumi- nous multiplications of figures set before him from term to term by such an accountant as this? There is no uni- formity in the construction of them : — the calculations of the value of stock are made in one instance at sale prices, without deduction of any per centage, sometimes on ten per cent, under sale price ; — but the fallacious principle runs through the whole — the same things that are estimated in the one way at Whitsunday, assume the other shape at Martinmas, but in the true and right shape — (what they would fetch if sold off) — they never once make their appearance. Totally different modes and forms are adopted and jumbled together, and the letters are constantly at variance even with these absurd balances in the States. No one who looks at these documents with the expe- rience of a man of business, can doubt that they w r ere drawn up by a most unscrupulous hand. The first State puts the stock of £2000 and the loan of £1500 to the credit of the balance of trade. The second does not 36 LETTER TO SIR ADAM FERGUSSON. repeat this error, but it rates the book debts at their pre- cise amount, making no deduction for eventual loss, ■ — estimates the stock in trade at prices at least a half, and in some instances greatly more than a half beyond its actual value ; and thus, while the concern was truly insolvent, and Scott's capital was gone, he is assured that his £1000 has more than doubled, and that he is deriving a clear profit of fifty per cent. ! Will any honest man stand by this conspectus of this Company's affairs during the first two years ? And, if not, who is to blame for the misrepresentation ? Is it Sir Walter, the sufferer by the loss, the only monied partner, but who had no knowledge of the details? — or is it James, who continued to draw out of the concern largely, and who at least ought have known, that according to the rules of trade these estimates were fallacious ? — or, finally, is it John, and John alone, who was certainly a sharp clever fellow — and not likely prima facie to be entirely incapable of distinguishing between a business gasping for existence, and one flourishing in the vigorous health of 50 per cent, profits ? One word more as to Johns accounts. In my nar- rative I stated that he owed his dexterity in the mani- pulation of figures to having passed part of his early career in London, under the roof of a banking-house. On this head, the " Refutation" gives me a flat contradic- tion (p. 14.) It would, I suppose, be considered as (in the words of Johnny's own old Scotch lady), " no material to the story" whether he had acquired his accomplish- ments in that way, at a city banker's, or at Mr Willis, the west end tailor's. But I confess I was rash in as- serting that he had been in a banking establishment at all — for I find, on examining my authority for the statement, that it was only his own word. According LETTER TO SIR ADAM FERGUSSON. 37 to Mr Cadell, my publisher, who was far more intimately acquainted with him in business than any other individual now living, " when complimented on his skill in draw- ing accounts, he used to brag that he had not spent his time at Messrs Curries' for nothing." I trusted to this — and perhaps I was too hasty in doing so ; but I can at least show that Mr Cadell was not the only person to whom he was in the habit of bragging that he had been Messrs Curries' disciple. The writer of the fol- lowing note is well known to have been an intimate friend of John Bailantyne's : — To Robert Cadell, Esq., St Andrew's Square, Edinburgh. " Gullane House, 6th December 1S38. - 1 - My Dear Sir, " I have just received your note. I cannot of my own know- ledge say whether or not John Ballantyne ever was in Curries' banking-house, but from what I have often heard him say, I am led to believe that he was in the house for a short time. I am, my Dear Sir, yours very truly, J M " Enough of the Hanover Street figures. What James thought of Johnny's book-keeping generally may be in- ferred from the conclusion of one of his epistles to Scott, penned soon after his brother's establishment as an auc- tioneer, when he (Rigdum) was on the Continent in quest of nicknacks for his sale-room. In this letter (September 19th, 1816) the printer bewails the embar- rassment he had been put to by the appearance of a bill against the Hanover Street Company, which Rigdum had neglected to enter or provide for — and proceeds thus — " It is not possible I can be responsible for what he did or did not do, when by general approbation he managed the pecuniary concerns of the business. No man can love, or for many reasons 38 LETTER TO SIR ADAM FERGUSSON respect another, more than I do John ; but, with the black man in the play — ' Cassio, I love thee, but never more be cash-keeper of mine.' " But I must return to the course of events. In a letter from John to Scott, dated the 16th of March 1813, he gives a very gloomy picture of the state of the trade generally, and of the necessity, in so far as they were concerned, of coming to some resolution. He says, that all the capital, and £3000 more, had been lent to the printing-office : that there had been great difficulty in keeping the concern agoing, with its " num- berless bills, and a great charge for discount. — However," he adds, " it has hitherto been accomplished, and greatly by your aid, as the statements furnished from time to time, with prospective views of demands, and means of liquidation, have shown ; but we were also largely as- sisted by Gale and Curtis in September, and have since then been paying off their loan of bills. The result of our affairs is much the same as in May, but the diffi- culties now are very different." Mr John therefore suggests the necessity of either narrowing the concern, or winding it up altogether. Mr James adds a post- script, in which he says, he could not charge himself with any undue negligence in his department, plainly throwing the blame on Mr John. John writes again, on the 18th and on the 20th, and as usual goes into a long detail of his States and Calenders, as perplexing as any of the preceding. Great indeed was Mr John's faith in the credulity of his correspondent. Perhaps the most audacious specimen occurs in this last letter, where our gay fox-hunter (the true original of Jack Brag) assures Scott that he had, since the bookselling affair began, kept under the allowance to which the contract had restricted his personal drafts. His words LETTER TO SIR ADAM FERGUSSON. 39 are — " I know for my own part that I have lived upon the £300 per annum allotted, and can live, under other circumstances and in an inferior situation, on much less. I entered the business with nothing, and of course must expect nothing, unless it is realized on a final balance." It was quite true that he had brought nothing into the business ; but as to his having kept within £300 a-year, he might as well have said under £30. All this while, according to the lowest estimate of those who remember the man and the time, he must have spent at least £1200 per annum: — it is needless to ask at whose cost. Sir Walter does appear at this period to have seen, at least to some extent, into the grand mistake, and its probable consequences. In the Life, about the period to which I am now referring, you will find more than one instance of his desire to rid himself altogether of his commercial adventures. Pray turn to p. 72 of Vol. Ill, where you will find him saying to John Bal- lantyne, on 1 0th August 1813 — " I cannot observe hitherto that the printing-office is paving off, but rather adding to its embarrassments, — and it cannot be thought that I have either means or inclination to support a losing concern at the rate of £200 a-month. If James could find a mo- nied partner, an active man, who understood the commercial part of the business, and would superintend the conduct of the cash, it might be the best for all parties ; for I really am not adequate to the fatigue of mind which these affairs occasion me." Again, on the 16th of the same month, he says (Life, vol. iii. p. 73) to John — " With regard to the printing, it is my intention to retire from that also so soon as I can possibly do so with safety to myself, and with the regard I shall always entertain for James's interest." And a few pages farther on, you will find him, in a 40 LETTER TO SIR ADAM FERGUSSON. letter to James, pointing to a winding up, stating that he had no debts bat those arising from these affairs, and making up his mind to lose all he had advanced. Alas ! this would have been a small sum compared to what the rolling stone at last accumulated on his head; but it was no part of the Ballantyne policy to lose hold of such a partner. It was said in the Life, vol. iii. p. 74, that a volume might be filled with evidence, from Sir Walter's corre- spondence, of the anxious perplexity in which he was kept by the blind unbusiness-like proceedings of both John and James during 1813 and 1814. I repeat the statement — I think I have already sufficiently established it — but I shall now exemplify its justice by a few more quotations. In a letter, dated the 22d of March 1813, when the first crisis had occurred, James gives Sir Walter a long account of the state of their affairs. It would be too cruel to trouble you with the whole of it, but among other passages, it contains the following: — " It is thus evident that the bookselling could be supported only by credit ; and the best mode would have been for us to have limited it as much as possible. But unfortunately, as it now ap- pears, we did not. We embarked upon various specidations, some of which — those in which you were concerned as author or editor — had great success — others the fair average the bookseller expects; but a third class, and that class \inluckily the largest in amount, though not the most numerous, with no success at all corre- sponding to the expense laid out upon them. Of those, Beaumont and Fletcher, and the Register, have been the heaviest hitherto. By these adventures nearly £15000 (perhaps more) of stock has been created without any capital whatever; and therefore that sum must be due by lis to sundries. ,, Mr James talks in the same letter of his own " frugal subsistence," — of the misery he had " long seen" in John — and finishes thus : — LETTER TO SIR ADAM FERGUSSON. 41 " Having said all that occurs, I shall conclude with assuring you, that you will find in John and me the most implicit compliance with whatever you shall propose, either for the general welfare of the business, or your own security. Whatever you propose I am confident it will be proper for us to agree to." Scott to John Ballantyne. " 20th August 1813. '•' The evil of this business is having carried on the concern so very long — until its credit was wholly ruined — before having re- course to my assistance ; for what I have done ought to have cleared it, if the business had been in a situation to do anything for itself. But 1 will not do in my own case what I have condemned in others — that is, attempt to support a falling business beyond the moment that it appears rational to hope for its being retrieved. I have no debts of my own of any consequence, excepting such as have been incurred in this unlucky business." The Same to the Same. « August 22, 1813. " I have every wish to support the credit of the house — but if we are to fall behind ,£1000 every month, over and above what had been calculated and provided for, who can stand it?" The Same to the Same. " August 27, 1813. " I blush to think of the straits I am reduced to — I who could have a thousand or two on my own credit in any previous period of my life. As for sending me States, they only confuse me. If the calendar be really perfect, it is the best State for me. I am afraid that all the acceptances you counted: for October and No- vember are thrown back, as well as those for September. I must know how this is before I engage farther. It would be a fine thing if, after getting this credit, if it can be got, you should (that is t the business should) a third time leave me in the hole to struggle for myself. For you must be sensible that by degrees I have been left wholly alone, and to tell you a secret, I would rather the business stood on your acceptances than mine." D 42 LETTER TO SIR ADAM FERGL'SSOtf, The Same to the Same. " 5th September 1813, " For God's sake look forward — how your own funds, and those provided in London, will come in to extinguish debts ; and remem- ber mine must be paid as well as yours. You know I cannot calcu- late how or when your bills will be discounted, though you can by taking the worst view. It is comparatively easy to provide for a difficulty seen at the distance of months, but who can trust to doing ho at the warning of days and hours ? Do take a well-digested view of this matter, upon a broad and extensive plan." The Same to the Same. «'28th April 18H. " I have made up my mind, and arranged all my affairs, upon our last examination of the calendar, and I promise you I shall like very ill to be driven out to sea again. Why does not James hurry through the Lady of the Lake? but he is a true Spaniard, who will not mend his pace though the house were on fire. Jamie- son's copy-money should have been entered in the calendar. No- thing has tended so much to cause and jirolong the confusion of these affairs, as leaving out of view claims which ought to he paid, and are certain to be made.'" The Same to the Same. " 17th October 1814. 11 Dear John, " I received your letter with the astonishing news of James's utter disregard to his own credit. He promised to let me have accounts of his prospects, and consult me upon the management of his cash affairs, but he has kept his word but lame/y. He is even worse than you, for you generally give a day or two's notice at least of the chance of dishonour, and this poinding* is little better. His Kelso expedition has proved a fine one." James Ballantyne to Scott. " October 23, 1814. " Dear Sir, " I have received your packet containing the preface to Wa- * Poinding is Anglice Distraint. LETTER TO SIR ADAM FERGUSSON. 43 verley, and copy for the poem. It is quite needless to say anything more of the poinding. It is one of fifty things which happen to sour the temper, and I by no means wonder that you see the mat- ter under an aspect different from that in which I regard it, and apply to it epithets which do not strike me as justly belonging to it. Meantime, I trust the printing will cease to be that burthen which hitherto it has been. As to my own expenditure, I have not yet been able to take the funds for it with any thing like regu- larity. On the contrary, often when I had appropriated a sum to pay my own little accounts, have I been forced to turn it into the channel of wages or bills. To this irritation I have no other hope than to be long subject. One glance will show that it cannot be otherwise. But as to despondency, I once more say I know no- thing about it ; and as to these taxes, they figured in my mind as no more than fifty other equal difficulties that at this moment press upon it equally. Had I ever had it in my power (I mean since I took up these affairs) to have a little before me, the case would have been different. In the way of retrenchment I do whatever I can. There are some objects which I do not retrench, simply because it is likely my mother has not long to live, and because I have not the fortitude to make her last days less happy than they have been. This, I must confess, compels me to one or two extravagancies, particularly my gig and my horse There is another claim for £25, made up of old taxes due four years back on a place I had at Newhaven. I could just as soon pay the national debt at present, poind where they will. ' A poor thing, Sir — Poor, miserable poor.' As to borrowing, I have pretty well got the better of shame, but really I don't know any- body that would trust me. The cause of all this is to myself at least, perfectly clear and sufficient — beginning in debt, without ca- pital, and always heavily in advance.'" N. B These last italics are James's own — and the advance he adverts to was the outlay on wages, &c, absolutely necessary to carry on the printing business. The extracts I have now given, illustrate sundry points besides the one I had mainly in view, — among others, the activity and frugality of the careful James. But before I leave the years 1813 and 1814, pause a little, I pray you, to peruse the picture which these let- 44 LETTER TO SIR ADAM FERGUSSON. ters present of this disastrous crisis, and of its causes. James admits, in his letter of 22d March 1813, that all the speculations in which Sir Walter had been en- gaged as author or editor were crowned with success — but he states, that the result of various others, notwith- standing of his own " frugal subsistence " — of which we shall see more by and by — had been to incur an out- lay of £15,000 on bad stock without any capital ; and he promises, that if Sir Walter would still extend his confidence, " everything should be done for his secu- rity." Scott, on the other hand, in his letters of Au- gust and September complains — and most justly com- plains, — that the business had been carried on until its credit was ruined — without his being put in possession of the circumstances which, as a partner, and the only monied partner, he was entitled from time to time to have known — and that it was extremely hard that he who had no debt of his own should thus be involved in diffi- culties, for which, although legally, he was in no degree morally, responsible. He again complains, in April 1814, of the confusion which had been prolonged in these affairs by the concealments of the managers, and says that he should like very ill " to be driven out to sea again." God knows he had been long enough upon these troubled waters under such pilots ! He saw, in Octo- ber of the same year, that James had " kept his word but lamely," and that he had utterly disregarded his own credit. Yet, alas ! he was overpersuaded again to put to sea with the same comrades, and that upon ex- peditions of still greater peril. James in reply states, with great naivete, that as far as he himself was con- cerned, the source of misfortune was clear enough — he had begun in debt and without capital ; — but, he adds, that he had never got (or taken) funds for his own ex- LETTER TO SIR ADAM FERGUSSON. 45 penditure with " anything- like regularity," and pro- mises to retrench in every particular, excepting that he could not think of laying- down the gig in which his old mother was accustomed to take her airings. Scott is over- come by all these frank and amiable protestations, and continues the voyage in the hopes of fairer weather, and steadier steering. Thus far I think we have fol- lowed pretty satisfactorily the commercial history of the literary adventurer who lured the Ballantynes from their native hills " with private views of his own," — to wit, views of speculating upon their capital and credit ! It is unnecessary to trace this painful history from year to year. But there is one event — I mean the marriage of James Ballantyne — the pecuniary arrange- ments connected with which bring out in the clearest point of view the relative position of the parties, and falsify beyond a doubt the charges of these Trustees. I had mentioned this matter in the Life of Scott very briefly, having no sort of wish to go into disagreeable particulars. One of the most shameless passages, how- ever, in the " Refutation," compels me to do what I then abstained from. The authors of this pamphlet, among their other marvels, choose to hazard the asser- tion, that James's family were ultimately injured to a very grievous extent, in consequence of his having left, besides all his " floating profits," his wife's fortune also, " at the command of Sir Walter." This makes it necessary that I should show distinctly in what pe- cuniary relations Scott and James Ballantyne stood to each other at the time when the latter entered on his matrimonial engagement. It will appear that the true nature of their connexion, and its results clown to that period, were made known by Mr Scott's desire to the lady's family, before they gave their sanction to the 46 LETTER TO SIR ADAM FERGUSSON. alliance, and they therefore should have ordered the man- ner of her provision, and secured it as they judged best, with reference to the actual circumstances of the bride- groom. It is not my fault that Scott's letters to James on this occasion are not produced- — I believe those I have all along had in my possession would be sufficient to ex- plain the business pretty fully. Nor is it my fault if any respectable persons shall now have their feelings wounded by the disclosure of matters, which nothing but this unwarrantable charge could have led me to lay before the public. I omit everything not immediately necessary to my purpose. James opens his romance in the follow- ing letter : — Mr James Ballantyne to Walter Scott, Esq. << Edinburgh, 15th October 1815. " Dear Sir, " Whether am I to discuss Paul first or something nearer to my feelings ? The something nearer certainly ; and then I shall discuss Paul with more patience. " Ecce iterum! — marriage again. But this will most assured- ly, in any possible result, be the last time I shall trouble you upon the subject; for if a man is disappointed at the sober age which I have attained, he is little likely to try at it again, unless he lives to come to his dotage, and then, to be sure, he maybe a fool. Now, to try how short I can make my tale " I have oftener than once told you of a certain lady, d'une cer- taine age, whom I had in my eye, though I never placed myself wittingly in her's. Well, it is not her. I found that mere ap- probation and civil regard were not sufficient stimuli, and I ac- cordingly remained motionless in the pursuit. But — " There is a certain gentleman-farmer, Robert Hogarth by name, who has two stout sons and four comely daughters, whom he loveth passing well, and amongst whom, as a solid pledge of affection, he purposes to divide his fortune, which is understood to be very considerable. * * LETTER TO SIR ADAM FERGUSSON. " Now for the reasons why I trouble Cato with a love tale. In the first place, I am fully convinced of the interest you would take in a step so important to me, independently of any other motive than the kind regard with which you have honoured me for so many years ; but I have other, and in truth imperious reasons for this early disclosure to you. Were the young lady portionless — mean- ing by that phrase, without certain views of a handsome fortune sooner or later — why no more would need be said than, You see how I live, my dear ; will you have me ? But the case is other- wise ; and I think it right to be very explicit respecting my causa scientice. ***** 48 LETTER TO SIR ADAM FERGUSSON. " Supposing, therefore, all this to be correct, he will naturally enough enquire particularly into my property and prospects. Looking at me, as a stranger will naturally look, he will hold me at least to be unembarrassed and independent, if not rich ; and if he found that I was the former, I am satisfied he would be con- tent, and willingly leave his daughter to decide for herself. * * * * Now, I fear, J am in debt, for more than all I possess — to a lenient creditor, no doubt ; but still the debt exists. I am singularly and almost hope- lessly ignorant in these matters ; but I fancy the truth is, that owing to the bad success of the bookselling speculation, and the injudicious drafts so long made on the business which throve, I am de jure et de facto wholly dependent on you. All, and more than all, belonging ostensibly to me, is, I presume, yours. If I am right in this, may I solicit you, my dear Sir, to put yourself in my situa- tion, and give me your opinion and advice. I will implicitly rely upon it, for I know no man so wise, and none more honourable. It will be hard, very hard, if from contingencies attaching no great portion of blame to me, I must resign this last hope; but I must never drag a kind and confiding woman into a pit after me. " In a particular manner, I wish to know how you desire that I should act respecting your own concern in my affairs? My own opinion is, that a full confidential disclosure (limited to the father and eldest son) would be not only honourable to me. but useful to you. ***** LETTER TO SIR ADAM FERGUSSON. 4'! I " I think I have nothing to add except this — that if I marry, it will make no permanent addition to my expenditure. The first year, perhaps, might compel me to trespass for an additional hun- dred or two, though that is even questionable; for to the third daughter, who is on the eve of being respectably and opulently married, the old gentleman has been singularly liberal. * " If Saturday next passes as I hope, I shall do myself the plea- sure of passing a day with you, according to your kind and flatter- ing invitation, about the 24th or 25th curt. God be praised, on your account, almost more than on my own, that we shall have no longer disagreeables to talk of; and that after all your cruel vexa- tions you know the extent of your loss. It has been great; but few men have such resources. Peace and tranquillity are once more, I think, restored to you ; and hope is still mine. " I shall write about the printing-office when my mind is more at ease. Meanwhile the states are regularly kept up. I have had a sum of £100 to pay for my poor father, being the very last, but still I have very little exceeded my allowance, not, I believe, at all, taking into it my salary for the Register, of which two years are due me. I am, &c. James Ballantyne." I fancy I have pretty well satisfied you that the book- selling concern was throughout on Scott's broad shoulders ; and there can be no doubt that so was also the printing- one, down to October 1815, when James Ballantyne thus threw himself at Scott's feet for permission to pro- pose himself in form to Miss Hogarth. I have already said, that from the time of Johnny's removal to Hanover Street in 1809, no regular balances of the printing-house's E 50 LETTER TO SIR ADAM FERGUSSON. affairs were made up. The losses in Hanover Street have been pointed out, and also the diligence with which the "young and sanguine" Ballantynes spent the " gains" of that business, — which " gains" had no existence ex- cept in Mr. Rigdum's " hasty results," alias deceptive States. It now appears plain enough, that from 1809 to the close of 1815, no amendment in the conduct of the printing establishment had taken place. James, at all events, had persisted in his slashing encroachments upon the funds of that company : — " the injudicious drafts so long made on the business which throve" — the same business, nevertheless, which had been "a heavy burden !" James confesses that his capital (whatever he ever really had possessed of capital) was gone — that his " profits," instead of " lying at the command of Scott," and being devoured by Scott's " all-engrossing" operations, had been entirely swallowed up by his own " frugal" expen- diture ; and that, over and above all this, he was so much in debt to Scott, that he could not stir an inch in the most important movement of his own life, without the gracious permission and generous aid of his " lenient creditor." Can anything be figured more conclusive than this letter ? James, in October 1815, though he is courageous enough to deny that any great share of the blame lay with himself, does not presume to throw any blame whatever on Sir Walter. He admits that Sir Walter's losses had been great, and his vexations cruel. He himself had nothing to lose. He was so situated with his benefactor, to whom he owed more than all he possessed, that to marry without his consent was impos- sible. However, if that step be taken, it shall make no permanent addition to his expenditure — at most an additional hundred or two might be required for the first year. Sir Walter, as usual, gave way to the humble LETTER TO SIR ADAM FERGUSSON. 5 J lover's entreaties ; and Mr James Ballantyne's pledges, on the other hand, were, as usual, " kept but lamely." The three pieces following are without date of month or year — but I present them in the order in which I found them ; and I presume the two first were written in Oc- tober 1815 ; the third, James's renewed supplication, about the 20th of December, the beginning of Scott's Christmas vacation. Scott to John Ballantyne. " I have written to James fully upon our affairs; he will of course show you the letter, and I think you will be of opinion, that although / cannot give up debts which are in a fair way of being paid by a thriving concern, and which owes its subsistence and pro- sperity in a particular manner to my advances, influence, and exer- tions, yet I have placed him in the situation of a free unencumbered man, with a decent present subsistence, and very fair prospects. I shall be anxious to hear the result of his wooing." The Same to the Same. " I trust James will act well and prudently; he seems quite pleased with the arrangements I have made for him, and I am very glad he is not suffering the view to cool." I shall have to return to these two notes by and by. Observe, meantime, that they prove two things — first, that Scott never dreamt of relieving the Ballantyne establishments which owed every thing to his own pa- tronage, capital, and zeal, of the debts accumulated upon their books — which debts must at this time have amounted to many thousands : second, that, in his anxiety to promote James's personal happiness, he pre- pared to make some arrangements respecting those debts, which would relieve James individually from their im- 52 LETTER TO SlR ADAM FERGUSSON. mediate pressure. The next letter indicates that these proposed arrangements had been pondered over very de- liberately by the Hogarth circle. Mr James Ballantyne to Walter Scott. Esq. " Sunday Evening. " Dear Sir, " Since I left } T ou in the morning I have had a conversation with Geo. Hogarth, which has thrown more light than I could altogether wish upon my future prospects, in regard to my con- nexion with his family. And yet things are not bad neither, I trust: — At least I am now sure of his good will, which I doubted before. " The marriage-day was fixed for the 1st of February, at least by the consent of Miss Hogarth, and the tacit approbation of the parents. But Geo. Hogarth now gives it pretty clearly as his opinion, that the marriage should not take place until the mutual discharge is executed in regard to the bookselling business, with- out which h« argues, quite fairly, that his sister is not safe. His language was candid and respectful, and his whole manner kind ; but it was not the less apparent, that his own sentiments with respect to the propriety of the measure were decided ; and his sentiments, I have no doubt, will regulate those of his family. A demur respecting a pecuniary difficulty is firecisely that which -a wooer cannot remove by supplication or entreaty; and this, therefore, must stand until removed by other means. Until this dis- charge be executed, I see clearly the marriage will not take place; and if it be long unexecuted, I fear it will never take place at all. That the father should agree to the advance of his daughter's fortune, or any part of it, till this rub is removed, Hogarth plainly told me was not to be expected. There then we now stand. The wedding-day fixed, every thing prepared, the public (the few indi- viduals that we call the public) having their eyes fixed on our pro- ceedings, and this mid impediment starts up. Not even my anxious feelings upon the subject would lead me to ask you to remove this bar, did I see any additional injury or inconvenience which could reach you from doing so. But I see none. I therefore frankly beg leave to remind you, that you will, so far as I can discover, run no additional risk and suffer no additional loss by agreeing to execute LETTER TO SIR ADAM FERGUSSON. 53 this mutual discharge immediately. You will have still the same hold over the whole proceeds of the P. office, reserving only my own livelihood, as you have now ; nor does it appear necessary that the public should know anything whatever of the transaction. You best know how a deed should be worded, to have the effect of making you as secure at present as you could be afterwards, and any such deed I shall willingly sign. It will be severe upon me. I speak of the fact, not of your motives or actions, which have always been most generous and kind to me and mine, but it will be dread- fully severe if this important measure be killed by the delay of winding up a business, of which the general principle is completely understood, and which seems as ready to be finished now as at any future period — I mean with respect to the mutual interests of the partners. " I am, I confess, very anxious ; for I have a sure conviction, that if the marriage be delayed from the 1st of February until some future and necessarily indefinite period, it will be delayed for ever. The thing, I need not tell you, would become ridiculous ; the public would titter and sneer ; a young woman with ,£4000 or .£5000 would begin to be laughed into the belief that she might do better than wait for a middle-aged man of embarrased fortunes ; the affair would blow up, and I should be completely discomfited. ****** ***** " Until I receive your determination upon the subject, I must remain silent : and all must remain stationary. My future welfare hangs upon it. In fact, it is you who have the fixing of the mar- riage-day, or whether there is to be a marriage at all. To any- body else, this should be the text of a pathetic sermon ; but it is needless to you. I only wish you felt my pulse. " I have written, because it is far too late to trouble you with a visit. But my letter will reach you before you go to bed probably, and you will answer it the earlier, that you receive it before you leave town. — I am, &c. J. Ballantyne." I regret that I cannot produce Sir Walter's letters upon this occasion ; but there is quite enough without them. It is now clear that Miss Hogarth's brother was informed of James's difficulties, and objected stoutly to let the negociation go on unless his affairs were put on a :>4 LETTER TO SIR ADAM FERGUSSON. satisfactory footing, which could not be done but by Scott's generosity. Something that satisfied Mr George Hogarth was done, and the marriage took place in Fe- bruary 1816. What that something was I will show you presently by irrefragable evidence — as also that, when that something was done, James Ballantyne, indepen- dent of all other matters, was Scott's personal debtor in the sum of £3000. Meantime, I have no very cer- tain information as to the amount of Mrs Ballantyne's marriage-portion ; but I have reason to think that it did not exceed £1500. Nor do I know how any of it was invested, except, perhaps, £1000, which James paid in 1821 for a house in Heriot Row, being half of the price of the said house, the other half whereof he borrowed. The propriety of buying and removing to a new house in a fashionable part of Edinburgh, quite away from the seat of the printing business, when we come to consider the pecuniary status of James in 1821, may perhaps admit of some question ; but there is no question that the lady's legal brother was acquainted with the whole condition of things in January 1816 ; and that if James " left" any of the tocher " at Scott's command," he did not do so by paying off therewith the debt he had long owed Scott individually. I have thus placed beyond all possibility of cavil the baseless absurdity of the charge which these Pamphleteers had dared to raise against Sir Walter with reference to the affairs of Mrs Ballantyne. I have proved distinctly, that the Hogarth family were made fully aware of the relative position of Scott and James, when the marriage was arranged ; and there can be no doubt, that if the lady's portion was improperly bestowed, the responsi- bility lay, not with Scott, but with Ballantyne and witli them. LETTER TO SIR ADAM FERGUSSON. 55 With respect to the debts of the two Ballantyne Com- panies, the arrangement proposed by Scott at this time, which called forth Mr James's grateful acknowledg- ments, and finally removed all the scruples of the Hogarths, was simply as follows : — Johnny's separate business as an auctioneer was now in a promising state, and all concerned were equally desirous of finally closing the bookselling and publishing adventure. The obli- gations of that firm and those of the printing-house were, however, by this time inextricably mixed up to- gether ; and as John had never embarked one shilling of capital in the former, which per se was utterly bank- rupt — its unsold book stock little better than dead-weight — the only commercial resources available for clearing off the encumbrances, were those of the latter business. It was proposed that the whole Ballantyne debt, there- fore, should be assumed by the printing-house, though, to avoid sudden alarm, a considerable proportion of the accommodation-bills hanging over Hanover Street, should still be kept afloat under the name of John, primarily. The printing establishment, then, was to take on itself the whole burden of both the mismanaged concerns ; and Sir Walter being now at the height of his career as a novelist, the employment of the presses was so vast, that there seemed to be nothing irrational in expecting that the profits of that establishment, if devoted strictly to the liquidation of the debt during a limited sequence of years, would suffice to clear off the whole. Sir Walter, in his large faith and easy nature, believed that Mr John had limited his personal expenditure to the sum allowed him as manager, and was willing, as he had ad- vanced no capital, to hold him free of the ultimate loss in the publishing concern. He therefore says to James — " the burthen must be upon you and me — that is ■','} LETTER TO SIR ADAM FERGUSSON". mi the printing-office. If you will agree to conduct this business henceforth with steadiness and care, and to content yourself with £400 a-year from it for your pri- vate purposes, its profits will ultimately set us free. I agree that we should grant mutual discharges as book- sellers, and consider the whole debt as attaching to you and me as printers. I agree, farther, that the respon- sibility of the whole debt should be assumed by myself alone for the present — provided you, on your part, never interfere with the printing profits, beyond your allowance, until the debt has been obliterated, or put into such a train of liquidation that you see your way clear, and voluntarily reassume your station as my part- ner, instead of continuing to be, as you now must con- sider yourself, merely my steward, book-keeper, and manager in the Canongate." James eagerly acceded to this proposition, and from January 1816, he was Scott's salaried servant, down to June 1821, when he took such a view of the business, its condition and its prospects, that he requested to be again admitted into it as a real, not a nominal partner — which he accordingly was, by a new contract signed at Whitsunday 1822. All this I shall establish presently by documentary proof. Meanwhile, let us return to the order of time. James accepts the arrangement, and commences a double course of new existence — a married man, and the ma- nager of a printing-office, the whole of whose debts had been for the present assumed by Scott, while the whole of its profits (with the deduction of the manager's stipend) were to be applied for Scott's purposes — that is to say, after a fair remuneration to Scott for his advances, in carrying on the concern, for the gradual obliteration of the old Ballantyne debts. It is clear that so long as the LETTER TO SIR ADAM FERGUSSON. 5» arrangement should continue, James could have no right to use the firm resources, or the firm signature, except for the purposes expressly sanctioned by Sir Walter. If he were to draw a bill, for instance, in order to raise money for any purpose of his own, and sign it, not " James Ballantyne," but " James Ballantyne & Co." he would really be guilty of what I can hardly bring myself to name. You do not suspect James of such trespasses as these — and I at this moment believe that he was incapable of doing such a thing deliberately, and with a full sense of what so doing involved. However, not from any de- sire to press hard on James's character, but for a reason which you will by and bye admit to be conclusive, I must now proceed to a painful incident of October 1816 — a few months after the stewardship commenced. On the 25th of this October, James, the salaried manager, thus writes to Scott - - " It is needless for me to dwell on my deep regret at the dis- creditable incident which has taken place. I shall bind myself to a naked statement (and a short one) of the circumstances that led to it. Several months since, my brother Alexander told me, that owing to the impoverished state of the country he could not recover above 40 per cent, upon his accounts, and that in order to keep his own credit he was compelled to desire me to repay him ■£500 of the cash for which he held the Company's acknowledg- ment. This embarrassed me greatly ; for I knew that the diffi- culties of our business were at least equal to kis, and was at the same time aware that his demand would not have been made, had the necessity for it not been compulsory ; I therefore judged it advisable to try my own means of raising this money, resolving not to trouble you upon the subject till circumstances should become more favourable. The £200 bill lately dishonoured was given by vie to John for an equal sum advanced by him, and paid by me to Alex- ander ! ! The remainder of the sum was made up in the same manner, and I have the absolute promise of the persons through 58 LETTER TO SIR ADAM FERGUSSON. whom I raised it (Manners and Miller) that they will aid me in retiring the bills granted to them till it shall be convenient for me to retire them finally. By my strict economy and the aid of a pru- dent wife, together with a small sum which I got from her father, I had prepared myself for the payment of this £200, and I am now to tell you, light the blame where it will, the exact means by which the bill was dishonoured. I was aware that the bill was due on Monday last. I had a letter from John on the morning of Friday, saying he was to be at Abbotsford on that day on his way home, and that he would be in Edinburgh on Saturday. I left Edinburgh for Carfrae on Saturday morning, leaving £200 inclosed in a letter for John to pay this bill, in the event of his failing to procure the cash in another quarter. In place of ar- riving on Saturday, John staid till Wednesday — a circumstance wholly out of my contemplation. The bill, of course, was dis- honoured, to my unspeakable vexation and sorrow. John's man, however, got scent of this money which I left, and proffered it at the Bank just too late to save noting." Note well, I beseech you, the terms of this letter, and the particulars of the disclosure of this " discreditable incident." Mr Alexander Ballantyne, a younger brother at Kelso, was, it appears, pressed for money, and called on James to pay up a debt of £500, not a Company, but a private debt. The concern in the Canongate was labouring under difficulties ; and in order to pay Alex- ander, a bill by the Company was discounted. James did not communicate the transaction to Scott. He sent the money to John, the auctioneer, get the bill to retired ; but by some accident the money was not re- ceived in due time, and the bill being dishonoured, was noted. Had it not been for this accidental circumstance, Sir Walter would never have heard of the bill at all. But what was discreditable in the incident, was not the accidental noting of the bill — it was the granting of it. Sir Walter seems to have been ill pleased, as he had good reason to be, with the transaction. On the 28th LETTER TO SIR ADAM FERGUSSON. 5f> James again writes, protesting, as usual, that lie had followed the strictest economy — " There was a time," says he, " certainly, when from heing constantly kept from hand to mouth by John, and therefore in com- plete darkness, I far exceeded my income, without either credit or comfort, or any kind of satisfaction. Bct since I myself had the management, I can conscientiously say this has never been the case. The claims of the business have never, not for a day, been postponed to my personal exigencies ; and your wants, in so far as I could influence them, would be more sacred still. At this moment I am stripped of every farthing in the shape of personal funds, to supply the deficiencies arising from John's total miscalculation of Allan's matters; and at this moment I am called upon to say, that I have not one shilling before me ; neither has mine been a bed of roses. I was not aware of the terrible consequences arising from one acting partner's using the copartnery signature for his personal pur- poses. I assure you, Sir, I should very nearly as soon forge your own signature as use one which implicated your credit and property for what belonged to me personally . I respectfully beg leave to call to vour recollection a very long and not very pleasant correspon- dence two years ago, on the subject of the debts due to my brother Alexander, and I may now shortly re-state, that the money ad- vanced by him went into the funds of the business, and at periods when it was imperiously wanted. No doubt it went in in my name, to help up my share of stock equal to yours ; but I honestly confess to you, that this consideration never went into my calculation, and that when I agreed that the name of James B. & Co. should be given to the bills for that money, I had no other idea than that it was an easy mode of procuring money, at a very serious crisis, when money was greatly wanted ; nor did I see that I should refuse it because the lender was my brother. His cash was as good as another's. Personally I never received a sixpence of it ! ! ! When my brother called up the money, he had the Company's obliga- tion therefor; and I thought myself warranted to pay him by means which did not increase the Company's responsibility, nor pledge their credit one guinea farther. Had either of us died, this would have been apparent. There is £260 due in November in two sums, the 23d and 27th, which I have no means of satisfying but by a renewal with the Company's obligation. I have nothing of GO LETTER TO SIR ADAM FERGUSSON. my own, and of course nobody will take my individual security. Sooner than pledge the Company s security again, I would go to jail — but in this instance, my going to jail would do no good, for the Company are already pledged.''' This trespass was too glaring to admit of excuse. James Ballantyne had no more right to grant the Com- pany's acceptance for personal advances to himself not connected with the affairs of the Company — or only in so far connected with them that they were applied to keeping up James's stock to what the contract required — he had no more right to do this, and thereby to bind Scott, without his knowledge and consent, for his (Bal- lantyne's) private debts, than, as he most justly observes, he had a right to forge Sir Walter's name. Accord- ingly it appears, by a letter dated the 8th of Novem- ber, that in consequence of Sir Walter's remonstrances, at a visit at Abbotsford, James had prevailed on his brother Alexander to give up one of the Company ac- ceptances for £500, and to take his (James's) own per- sonal acceptance in lieu of it. He continues — ' l The other £500 paid to him from funds raised by pledging the Company's security in other quarters, I cannot get quit of in the same way. That sum must be carried on, because I have no funds of my own to retire it, and because I cannot ask others to take my personal security, although my brother has done so. But I trust the following short statement will considerably abate the strength of your displeasure on that score. The grounds of your displeasure are, that I, a partner of the firm, have used the security of the firm for a sum borrowed by me for my own personal purposes. This, you remarked, was a measure which, in the event of your death, would be most harshly represented, and might even be con- strued into wilful fraud on my part — " The justification that ensues is perhaps as extraor- dinary as any thing else in James's conduct. He says, that part of the sums over-advanced by Sir Walter, and LETTER TO SIR ADAM FERGUSSON. (J 1 for which he was entitled to draw the trade profit of 15 per cent, under the agreement of 1807, had been bor- rowed by him from his brother Major Scott ; and the security of the Company having been pledged for this advance, James attempts to liken the two transactions: ^hat does Johnny say? — His words " I was as completely unaware of the impropriety of James's ac- cepting in the firm as himself, or I should not have suggested it. In truth, his own name luould have done as ivell, for this bill was paid to Cadell, not for value received, but as additional security over other assets, under which he took on himself the payment of claims on me while I was absent. Of course, the circumstance will never occur again. I am sure the Bank are entirely satisfied that the money lay for payment from the Saturday preceding." James, having stated, in direct opposition to John, that his own name would not do, tries to justify his pledging the Company'screditjandgrantingthe draft, by referring to the source of part of Sir Walter's early over' advances to the Company. But it is impossible to figure two transactions more completely the reverse of each other in every particular, than those which James Bal- lantyne thus attempts to assimilate. An advance made to the Company, with the knowledge and consent of both the partners, and on which a trade profit was to be allowed under the contract, has no resemblance on earth to the using of the Company firm in a transaction with which the Company had no concern, and for the relief of the brother of one of the partners, without the knowledge of the other. Even supposing that x\lexander Ballan- tyne had lent £500 to his brother James, who again had advanced it to the Company beyond the amount of his share, and for which, in that case, he would have been entitled to 15 per cent, profit — even assuming this 62 LETTER TO SIR ADAM FERGUSSON. to have been the res gesla — which, however, James's own words utterly negative — it would hardly, in reality, have made the " incident " in question one whit less " discreditable." Before James, even in that case, could properly have proceeded one step in granting such a draft, he ought to have communicated the whole matter to Sir Walter. In place of this, however, the true nature of the transaction is, that Alexander, who had made an advance to James " to help up" his share of stock " equal 11 to Scott's, being in want of money, as he could not recover above 40 per cent, on his out- standing debts, applies to James for repayment of his personal loan. James complied by pledging the Com- pany^ name. John says that James could have got the money upon his own credit just as easily. James tells a different tale, and admits he could not get it at all. The whole transaction is concealed from the only partner who from the beginning had any capital, — until it is accidentally discovered by the painful circum- stance of the Company's draft being noted. The pre- posterous apology offered is, that because Major Scott had enabled Sir Walter to make an advance to the Company over and above his stock, of which the part- ners were aware and had urgently desired, and which the Company were bound to repay — who the creditor was being a matter of no earthly consequence — James was entitled, without the knowledge of his partner, to pledge without value the Company's credit to his bro- ther Alexander. This episode, however, has not been introduced for the mere purpose of showing how Scott was used by James and John in the transaction itself, which they admit to have been " discreditable." No : It bears most directly on the main question which our Pamphleteers LETTER TO SIR ADAM FERGUSSON. 63 have thought fit to raise. We see that Sir Walter strongly resented the use of the Company's name and credit, by Mr James Ballantyne, for a private purpose — and that both James and John were driven to their wits' end for anything like an apology. The grand charge in the pamphlet is, that the Company's credit had been used by Sir Walter throughout for his own private ac- commodation. And I now ask whether the letters which I have been quoting do not form a conclusive contradiction by the Ballantynes of the whole charge as regards the period prior to October 1816 — not, to be sure, a contradiction in words, but what is far better, a contradiction in substance, and exemplified by conduct ? Sir Walter complains of this abuse of the Company's credit — this perversion of it to private purposes by the Ballantynes — and what is their answer? Is it to this effect: — "With what face do you complain of our having advanced a trifle of £200 to our brother, which we admit was a private transaction, unconnected with the concerns of the Company ? Be pleased to remember how your own private purposes have been served by the Company's credit, which you have used to the extent of many thousands, and blush for censuring us about a solitary violation of that contract, which you yourself have so systematically outraged." — They made no such answer, but on the contrary, knowing that Scott had not used the Company's firm for his own purposes, they attempt to palliate their conduct bv contradictory accounts of their own necessities, and by referring to the matter of Major Scott, which had no bearing on the subject. These culprits take to this most irrelevant defence, while, if the theory of the pamphlet were founded in truth, they might at once have overwhelmed the accuser with an unanswerable 04 LETTER TO SIR ADAM FERGUSSON. Tu Quoque — with what Alderman Wood, or Joseph Hume (I forget which), called " a Tu Quoquissime" ! I shall not inflict upon you proofs in detail of the less culpable sort of mismanagement which ran through all the period of Jameses stewardship. His letters are full of apologies for neglects, and promises of amendment — but he maintains a comfortable aspect, on the whole, and repeatedly disclaims " despondency." Scott, on his part, continued, as of old, too much occupied with his own romantic creations to have time for minute scru- tiny of his commercial affairs — he continued to pardon, to trust, and to hope. " No Despondency," was the word. In June 1821, John died.* The bills which had hitherto floated and expanded under his inspection, were now to be assumed directly by the Printing Com- pany — and James took this opportunity of renewing hints that he was weary of the Stewardship arrange- ment, and wished to have a new contract of partnership drawn up between Sir Walter and himself. It is neces- sary that I should lay before you several documents connected with this epoch of the history. Inter alia, they will establish the accuracy of the statement which I have given respecting the propositions on which the * I stated in the Life of Scott, that John, inter alia, left Sir Walter a legacy of £2000 to build a library at Abbotsford. The pamphlet coolly says that this legacy was not paid " for want of funds." The truth is, that over and above all commercial debts, Scott ultimately paid a round sum of personal debt of John Bal- lantyne's. In how far John had deceived himself as to his pecu- niary status, I cannot undertake to guess. That situated as he really was, death should have arrested him in the midst of con- structing a splendid villa on the Tweed, and that he should have penned legacies when he could leave nothing but debt to be dis- charged by his friends — even these circumstances are sufficiently in keeping with the whole of this person's history. LETTER TO SIR ADAM FERGUSSON. G~) marriage of 18 16 was agreed to by the Hogarth family. In fact, they supply as much as anybody would care to know as to the whole period between 1816 and 1822. In the 5th volume of the Life, p. 74, I gave an extract from a letter of James, in which he announced to Scott the appearance of very alarming symptoms in his brother John's bodily state. I did not then think it necessary to quote the sequel of that letter, dated Edin- burgh, Sunday, 3d June 1821 ; but I must now do so, and pray mark well the admissions in this letter. After saying, in reference to John's condition, " My heart and soul are heavy within me," the printer proceeds as follows — (the italics and capitals represent his own single and double under-linings of emphasis) : — " With some unwilling foreboding that this might happen, and that John might be unable to assist us in our approaching arrange- ment, I have been studying the whole affairs of the concern with all the attention I could exert ; and as generally happens to per- sons of good sense, I have found that what others can accomplish I can accomplish too. I am very sure that in one week I shall be able to produce a statement, which, subject to your amendments, may prove a very sufficient foundation for a new contract betwixt Us. I do not pretend to think that I can make out a balanced iaccount which would brook an accountant's examination; but that happily you do not exact; and have kindly allowed for the former negligence, which renders that altogether impracticable. But I am pretty confident that I can show how the concern stands with the world — what it owes, and what is owing to it; I can show what is the actual value of its present stock ; I am quite ready to agree to any terms you can propose for me ; and most zealously trust (and you will see I will nut fail) to keep everything betwixt us, in future, as regularly as the affairs of the Weekly Journal. Still, therefore, I look forward with hope and confidence to be useful both to myself, my family, and you. I am sure this is yet in my power, and I think you will believe it is. I may venture to say that I have never been idle, but, on the contrary, most active and assiduous in those parts of my business which I liked, — F G'G LETTER TO SIR ADAM FERGUSSON. trusting most absurdly to others to attend to the most important departments which I did not like. Henceforward I shall trust to myself alone ; and I really have no doubt that I shall manage everything as correctly as is my duty. With the deepest respect and gratitude — J. B." Hitherto I have quoted no document that was not in my possession when the life of Sir Walter was prepared for the press. I am now to lay before you one which came into my hands very lately, through the kindness of Mr Andrew Shortrede of Edinburgh, a son of Scott's old friend the Sheriff-substitute of Roxburghshire, the companion of the early Liddisdale expeditions. I might, indeed, have attained much the same end by inserting here the final contract of partnership between Scott and James Ballantyne; but the following letter missive of 1821, though its substance is repeated in the deed of 1822, has a certain interest of its own as being in the handwriting of Sir Walter. It is shorter, too, than the formal contract that ensued. " Missive Letter from Sir Walter Scott to Mr James Ballantyne, Printer in Edinburgh. " Edinburgh, loth June 1821. ;t Dear James, " It appears to me that the contract betwixt us may be much shortened, by an exchange of missive letters, distinctly expressing the grounds on which we proceed ; and if I am so fortunate as to make these grounds distinct, intelligible, and perfectly satisfactory in this letter, you will have only to copy it with your own hand, and return me the copy, with your answer, expressing your acqui- escence in what I have said, and your sense of the justice and propriety of what I have to propose as the result of our investi- gations and conferences. " It is proper to set out by reminding you, that upon the affairs of the printing-house being in difficulties about the term of Whit- sunday 1816, I assumed the total responsibility for its expenditure LETTER TO SIR ADAM FERGUSSON. Ui and its debts, including a salary of £400 to you as manager ; and on condition of my doing so, you agreed that I should draw the full profits. Under this management, the business is to continue down to the term of Whitsunday next, being 1822, when I, considering myself as fully indemnified for my risk and my advances, am willing and desirous that this management shall terminate, and that you shall be admitted to a just participation of the profits which shall arise after that period. It is with a view to explain and ascertain the terms of this new contract, and the relative rights of the parties to each other, that these missives are exchanged. " First, then, It appears from the transactions on our former copartnery, that you were personally indebted to me in the year 1816 in the sum of £3000, of which you have already paid me £1200, by assigning to me your share in the profits of certain novels ; and as there still remains due at this term of Whitsunday the sum of £1800, I am content to receive in payment thereof the profits of three novels, now contracted for, to be published after this date of Whitsunday 1821. It may be proper to mention, that no interest is imputed on this principal sum f £3000 ; be- cause I account it compensated by the profits of the printing-office, which I have drawn for my exclusive use since 1816 ; and, for the same reason, such part of the balance as may remain due at Whit- sunday 1822, when these profits are liable to division under our new contract, will bear interest from that period. " Secundo, During the space betwixt Whitsunday 1816 to Whitsunday 1822, I have been, lmo, At the sole expense of re- newing the whole stock of the printing-office, valued at £170U ; 2do, I have paid up a cash-credit due at the Bank of Scotland, amounting to £500 ; and 3tio, I have acquired by purchase cer- tain feus affecting the printing-office property, for the sum of £375 ; — which three sums form together a capital sum of £2575, for one half of which sum, being £1287 : 10s. sterling, you are to give me a bill or bond, with security if required, bearing interest at 5 per cent, from the term of Whitsunday 1822. " Tertio, There is a cash-credit in your name as an individual with the Royal Bank for £500, and which is your proper debt, no part of the advances having been made to James Ballantyne & Co. I wish my name withdrawn from this obligation, where I stand as a cautioner, and that you would either pay up the account, or find the Bank other caution. 68 LETTER TO SIR ADAM FERGUSSON. " The above arrangements being made and completed, it re- mains to point out to you how matters will stand betwixt us at Whitsunday 1822, and on what principle the business is after that period to be conducted. " Primo, At that period, as I will remain liable personally for such bills of the Company as are then current (exclusive of those granted for additions to stock, if any are made subsequent to this date, for which we are mutually liable, and exclusive also of suck debts as were contracted before 1S16, for which lee are also mutually liable.) I shall retain my exclusive right of property to all the several funds of the Company, book debts, money, bills, or balances of money, and bills in bankers' hands, for retiring the said current bills, and indemnifying me for my advances; and we are upon these terms to grant each other a] mutual and effectual discharge of all claims whatsoever arising out of our former contract, or out of any of the transactions which have followed thereupon, excepting as to the two sums of £1800 and £1287 : 10s. due by you to me as above mentioned. " Secundo, The printing-office, the house in Foulis Close, and all the stock in trade, shall from and after the term of Whitsun- day 1822 be held as joint jiroperty, and managed for our common behoof, and at our joint expense ; and on dissolution of the part- nership, the parties shall make an equal division of all balance ivhich may arise upon payment of the copartnery debts affecting the same. " Tertio, In order to secure a proper fund for carrying on the business, each of us shall place in bank at the aforesaid term of 1822 Whitsunday, the sum of £1000 (to form a fund for carrying on the business, until returns shall come in for that purpose), — I say the input to be £1000 each. u Quarto, The profits of every kind after Whitsunday 1822 (excepting works in progress before that period, and going on in the office) shall be equally divided, it being now found from expe- rience that the influence and patronage which it is in my power to afford the concern is of nearly the same advantage as your direct and immediate exertion of skill and superintendence. l ' 5to, Respecting books which have been begun before the term of Whitsunday 1822, but not finished till afterwards, I pro- pose, after some consideration, the following equitable distinction. Of all such works as, having been commenced and in progress be- LETTER TO SIR ADAM FERGUSSON. CO fore Whitsunday 1822, shall be published or sent out of the office- previous to Lammas in the same year, I shall draw the profit ; repaying the concern one half of the calculated wages expended per sheet or otherwise on the said works, subsequent to the term of Whitsunday. On the other band, the profit of all such works as, having been commenced before Whitsunday 1822, shall not be published or delivered till after Lammas in the said year, shall be divisible betwixt us in terms of the new copartnery ; you in that case repaying me the moiety of such wages and expenditure as shall have been expended upon such sheets or volumes previous to Whitsunday 1822. " Qto, I think it would be highly advisable that our drafts on the business (now so flourishing) should be limited to £500 per annum, suffering the balance to go to discharge debt, reinforce our cash-accounts, add to stock in case it is thought advisable, until circumstance shall authorise in prudence a further dividend. " It is almost unnecessary to add, that there must be the usual articles about the use of a firm, &c. But the above are the pecu- liar principles of the copartnery, and I should be desirous that our mutual friend Mr Hogarth, your brother-in-law, and a man of business and honour, should draw up the new copartnery, coupling it with a mutual discharge. He will be abetter judge than either you or I, of the terms in which they should be couched to be le- gally binding ; and being your connexion and relative, his inter- vention will give to all who may hereafter look into these affairs the assurance that we have acted toward each other on terms which we mutually considered as fair, just, and honourable. " The letter which I wrote to you at the time of your marriage in 1816, or about that time, explained completely the conditions on which I then undertook the management of the printing-office, so far as cash matters were concerned; and as they were communicated to Mr Hogarth, he will recollect their tenor. In case they are preserved, I think you will find that they accord with what I now propose, and are in the same spirit of regard and friendship, with which you have been always considered by, Dear James, yours very truly, (Signed) Walter Scott. " Mr Hogarth will understand, that though the mutual dis- charge of our accounts respectively cannot be perhaps effectually executed till Whitsunday 1822, yet it is not our purpose to go 70 LETTER TO SIR ADAM FERGUSSON. back on these complicated transactions, being perfectly satisfied with the principles of arranginent above expressed. So that if it should please God that either of us were removed before the term of Whitsunday 1822, the survivors shall not be called to account upon any other principles than those which we have above ex- pressed, and which I, by the writing hereof, and you by your ac- ceptance, declare are those by which we intend these affairs shall be settled ; and that after full consideration, and being well ad- vised, we hereby for ourselves and our heirs renounce and disclaim all other modes of accounting whatsoever. (Signed) Walter Scott." " Edinburgh, 22d June 1821. " I hereby agree to the propositions contained in the prefixed letter, and am ready to enter into a regular deed founded upon them, when it shall be thought necessary. (Signed) James Ballantyne." This last paper is so pregnant with clear, broad facts, attested by both Scott and James, that I may spare myself the trouble of accumulating; any supplementary evidence (as I could easily do) with respect to the rela- tive history of the men down to the month of May 1822, when their final deed of copartnery was framed. You will at once allow that it has justified every jot that I said a few pages back about James Ballantyne's wedding — but as this affair is really the kernel of the whole controversy stirred by his representatives, you will pardon me for dwelling a little longer on the stipu- lations of the document. It proves, you see, the exist- ence of a heavy Company debt in January 1816 — and you have already had sufficient proof from the details of the "discreditable incident" of October 1816 — that of this Company debt no part had been created by Sir Walter Scott's employing the credit of the firm to raise money for " private objects of his own." Accordingly, the Stewardship period being about to expire, the mu- LETTER TO SIR ADAM FERGUSSON. 1 1 tual liability of the partners under the approaching new contract, is expressly reserved in these letters-missive, as respects the debt of the period prior to 1816. For obli- gations contracted between 1816 and 1822, Sir Walter was to be exclusively responsible, because the profits of that period ought to have been exclusively his — minus a Steward's salary. As to all the rest, the partners are to stand precisely on the same footing. The arrange- ment which Scott proposed in 1816 was exceedingly handsome — but it was not absurd. For the preparation of the formal contract of 1822, Sir Walter selected Mrs James Ballantyne's brother. We have seen that this Mr George Hogarth, a man of business, a writer to the signet, a gentleman whose ability and intelligence no one can dispute, was privy to all the transactions between Scott and James, where- upon the matrimonial negociation proceeded to its close ; — and that Mr Hogarth approved of, and Mr Bal- tyne expressed deep gratitude for, the arrangements then dictated by Sir Walter Scott. Must not these Trus- tees themselves, when confronted with the evidence now given, admit that those arrangements were most liberal and generous ? Scott, " the business being in difficul- ties," takes the whole of those difficulties upon himself. He assumes, for a prospective series of five or six years, the whole responsibility of its debts and its expenditure, including a liberal salary to James as manager. In order to provide him with the means of paying a per- sonal debt of £3000 due to himself — and wholly dis- tinct from copartnery debts — Scott agrees to secure for him a certain part of the proceeds of every novel that shall be written during the continuance of this arrange- ment. With the publishing of these novels James was to have no trouble — there was no risk about them — the gain < 2 LETTER TO SIR ADAM FERGUSSON. on each was clear and certain, — and of every sum thus produced by the exertion of Scott's genius and industry, James Ballanty ne was to have a sixth, as a mere bonus to help him in paying- off his debt of £3000, upon which debt, moreover, no interest was to be charged. In what respect did this differ from drawing the pen, every four or six months, through a very considerable portion of the debt? Scott was undertaking neither more nor less than to take the money out of his own pocket, and pay it regularly into James's, who had no more risk or trouble in the publication of those immortal works than any printer in Westminster. The Pamphleteers must admit that James, pending this arrangement, was not the partner, but literally the paid servant of his bene- factor, and that while " the total responsibility of the debts and expenditure of the business" lay on Scott, Scott had the perfect right to make any use he pleased of its profits and credit. They must admit, that after the arrangement had continued for five years, James exa- mined the state of the concern, and petitioned Scott to replace him as a partner ; that so far from finding any reason to complain of what Scott had done with the busi- ness while it was solely his, without one word of com- plaint as to the large amount of floating bills so boldly averred in this Pamphlet to have been drawn for Scott's personal accommodation, James, in praying for readmis- sion, acknowledged that down to the close of that period (June 1821) he had grossly neglected the most impor- tant parts of the business whereof he had had charge as Scott's stipendiary servant ; — acknowledged, that not- withstanding his salary as manager of the printing-office, another salary of £200 a-year as editor of a newspaper, and the large sums he derived from Novel-copyrights given to him ex merd gratia, — he had so miscon- LETTER TO SIR ADAM EERGUSSON. to ducted his own private affairs, that having begun his Stewardship as debtor to Scott for £3000, he, when he wished the Stewardship to terminate, owed Scott much more than £3000 ; but that, acknowledging all this, he made at the same time such solemn promises of amendment for the future, that Scott consented to do as he prayed ; only stipulating, that until the whole af- fairs of the printing business should be reduced to per- fect order, debts discharged, its stock and disposable funds increased, each partner should limit himself to drawing £500 per annum for his personal use. They must admit that James made all these acknowledgments and promises; that Scott accepted them graciously; and that the moment before the final copartnership was signed, James Ballantyne was Sir Walter Scott's debtor, entirely at his mercy; that down to that moment, by James's own clear confession, Scott, as connected with this printing establishment, had been sinned against, not sinning. The contract prepared and written by Mr. Hogarth, was signed on the 1st of April 1822. It bears ex- press reference to the " missive letter dated the 15th and 22d of June last, 11 by which the parties had " con- cluded an agreement for the settlement of the accounts and transactions subsisting between them, and also for the terms of the said new copartnery, and agreed to execute a regular deed in implement of said agree- ment ;" and " therefore, and for the reasons more parti- cularly specified in the said missive letters, which are here specially referred to, and held as repeated, they have agreed, and hereby agree to the following ar- ticles." Then follow the articles of agreement em- bodying the substance of the missive. Scott is to draw 74 LETTER TO SIR ADAM FERGUSSON. the whole profits of the business prior to Whitsunday 1822, in respect of the responsibility he had under- taken. Ballantyne acknowledges a personal debt of £1800 as at Whitsunday 1821, which was to be paid out of the funds specified in the missives, no interest be- ing due until after Whitsunday 1822. Sir Walter having advanced .02575 for buildings in the Canongate, new types, &c, James is to grant a bond for the half of that sum. It further appears by the only cash-book exhibited to me, that James, notwithstanding his frugal mode of living, had quietly drawn £1629 more than his allow- ance between 1816 and 1822 ; but of this, as it is stated as a balance of cash, due by James at Whitsunday 1822, Scott could not have been aware when with his own hand he wrote the missive letter. Sir Walter, I have said, was to be liable for all the debts contracted be- tween 1816 and 1822, but to have the exclusive right of property in all the current funds, to enable him to pay off these debts, and as the deed bears, " to indemnify him for his advances on account of the copartnery" — i. e. from 1816 to 1822. Finally, James becomes bound to KEEP REGULAR AND DISTINCT BOOKS, WHICH ARE TO be balanced annually. Now, on looking at the import of this legal instrument, as well as the missive which it corroborated, and the prior communications between the parties, whom would an unbiassed reader suppose to have been the partner most benefited by this concern in time past, — whom to be the person most likely to have trespassed upon its credit, and embar- rassed its resources ? According to the pamphleteers, this person was not Mr. James Ballantyne, — but Sir Walter Scott ! " In the year 1822," they say, " James Ballantyne & Co. LETTER TO SIR ADAM FERGUSSON. i.> thought proper to balance their affairs, and under some new ar- rangements, to enter into a new contract of copartnership. This instrument was executed on the 1st April of that year. The Vidimus, then made up by an agent mutually employed by the parties, is now before vis; and it shows that the bills then current, in the name of James B. & Co., but for Sir Walter Scott's private accommodation alone, amounted to £26,896 : 5 : 1 1 ; while neither at that time nor subsequently ivas there a single accommodation bill current on account of the Company itself." p. 28. This truly is a bold paragraph. First of all, let me respectfully ask of you whether these gentlemen's phraseology would have conveyed to your mind the slightest notion of the actual res gestce, either of January 1816— or of June 1821— or of May 1822 ? Would you have gathered any suspicion that, from 1816 to 1822, Sir Walter Scott was to all intents and purposes " James Ballantyne & Co.?" I apprehend you could not. I am very sure you could never have guessed that the only document to which this passage refers, was drawn up by the same Mr George Hogarth, who had been con- sulted as to the Letters Missive of 1821, and who penned with his own hand the contract of 1822 ! I am very sure that Mr George Hogarth was not consulted by the manufacturers of this pamphlet ! His memory would have furnished, and his honour would have dictated, a very different tale. That gentleman knew well, what I have now made known to you, that when Scott made those " arrangements" for which Ballantyne was so grateful in January 1816, though he (Scott) assumed for a time the whole responsibility of the debts of the old Company, he did not do so because those debts were virtually and personally his own; — else why the deep gratitude of Miss Hogarth's admirer ? No — Scott generously took the burthen on himself, at the moment 70 LETTER TO SIR ADAM FERGUSSON. when but for liim it must have crushed James Ballan- tyne to the dust : he was of a noble spirit, but he was not mad. Only turn back, I beg- of you, to the closing para- graph of the missive of 1821. Scott, after having filled several pages with minute stipulations and provi- sions about old debts and new debts, &c. &c. &c. says to James Ballantyne, that in case a certain letter of 1816 had not been preserved, Mr George Hogarth's me- mory would confirm his own impression as to its lan- guage upon the various points in question. Now I ask a very simple question, Could there have been any occa- sion for reference to the memory of any third person, had the fact been — in one word — that in January 1816 James Ballantyne ceased to have any debts at all ? Again — between 1816 and 1822, Sir Walter was enti- tled to all the profits of the Company, deducting James's stipend as manager — viz. £400, afterwards, it would ap- pear, raised to £500 per annum. But after this deduc- tion, and allowing for fair interest on the capital by which alone the printing business was kept going, how could the profits during the stipendiary period have sufficed for extinguishing the accumulated debts of the two Ballantyne Companies, — debts the existence of which has been traced so plainly to the mismanagement and extravagance of the two Messrs Ballantyne ? The language of the contract of 1822 is, however, so clear, that I need not look beyond the letter of the record. Surely it would have been very strange if there had been a sum of upwards of £26,000 outstanding under accom- modation-bills for Sir Walter Scott's behoof alone, that the contract should have been silent upon this subject, and that all the acknowledgments between the partners LETTER TO SIR ADAM FERGUSSON. 77 should have been for advances made by, not obligations current for behoof of, Scott. Observe, again, the dis- tinct provision, that henceforth each partner shall limit the sums to be drawn by him annually out of the profits of the business to £500, " the remainder of the profits being to be applied in discharging debts, en creasing the stock, and such other purposes as may be found necessary or beneficial to the Company, until such time as the partners shall find it prudent to agree to draw from the profits to a greater amount." Pray, what debts could have been in contemplation under this pro- viso, if Sir Walter had taken upon himself not the re- sponsibility merely for the whole of the old debts, but an explicit obligation for the payment of them out of his own proper funds without relief? The new Com- pany was to start, with buildings, presses, types, &c. all ready, and with a fresh capital of £2000 — (though I believe the Company books prove that James' share of this capital was all borrowed, and that its amount only swelled the Company debt at the catastrophe.) According to the hypothesis of these Pamphleteers, the concern to which this contract refers could have had no debts de facto, and ought to have had none in pro- spectu. And I wish you, finally, to try to guess why, if James was at this time responsible for no Company debts at all, he should have been so very eager to re- enter as partner into a " new flourishing" business, under express stipulation to draw only £500 per annum of its proceeds, until its debts should be cleared ? I must, however, come back once more to the terms of the paragraph quoted from p. 28 of this pamphlet. After a reference to the contract of 1st April 1822, it says — " The Vidimus then made up by an agent mutually employed by 78 LETTER TO SIR ADAM FERGUSSON. the parties is now before us ; and it shows that the bills then cur- rent in the name of James Ballantyne & Co., but for Sir Walter Scott's private accommodation alone, amounted to £26,896 :5 : 11 ; whilst neither at that time, nor subsequently, was there a single accommodation-bill current on account of the Company itself." On the immediately preceding page, they say — " By a document before us, dated the 17th of April 1823, en- titled ' Memorandum as to James Ballantyne & Co.'s accounts,' it appears that the ' amount of discounts paid on Sir Walter Scott's account, from 15th May 1822 to 17th April 1823, being eleven months, was £1146:19:3!' — in other words, at 'the rate of more than £1200 a-year, exclusive of exchanges on re- mittances and bill stamps. Two thirds of the entire profits of the business were thus expended in raising money solely for the ac- commodation of Sir Walter Scott.' " P. 29. Now, who could suppose that the Memorandum or Vidimus of 17th April 1823, quoted in page 29, is the same with that stated by the Pamphleteers, on p. 28, to have been made up in April 1822? Such, however, is the fact. There is only one Vidimus referred to throughout, and it is on the faith of this document that the charge is rested of upwards of £26,000 having been raised previous to 1822 for Sir Walter Scott's pri- vate accommodation. But a Vidimus of April 1823 cannot be the Vidimus referred to in a contract of 1822. And, moreover, I beg to observe, that the Vidimus of 1823 is not signed by either Scott or Ballantyne. I would therefore be entitled at once to throw it entirely overboard, as in noway binding upon Scott. It is said to be in the hand-writing of Mr Hogarth, and very pro- bably was some draft or rough sketch made up by him. But unauthenticated as it is, it is worth literally nothing.* * No copy was found among Sir Walter Scott's papers, and the one I am now remarking upon was produced by James Bal- lantyne's Trustees on my requisition. LETTER TO SIR ADAM FERGUSSON. 79 III the next place, however, assuming it to be a docu- ment made up in terms of the contract, it does not prove that one shilling of the bills was for Sir Walter's private accommodation. The words " private accommodation,*''' which the Pamphleteers take the liberty of using, are not to be found in it. The bills which it refers to as Sir Walter's, represent not personal debts of his, but the original sin of the two old Companies, increased con- siderably, it is probable, since 1816, by the expense of discounts — more largely, however, by the bills current at the death of John in 1821 — and named as Scott's simply because they were the same that he had under- taken the responsibility of, under the circumstances and stipulations so often explained already, at the time of Mr Ballantyne's marriage. I repeat, that the word " accommodation'" is never once used in either missive, contract, or Vidimus, and in none could the origin of the debt have been a material thing to settle, although, no doubt, like everything else belonging to both Com- panies, the advances had been obtained on Sir Walter's credit as the " monied partner. 1 ' The right understanding of this Vidimus, which is the foundation of the whole calumny, will refute that calumny beyond the possibility of answer, knock the bottom out of the whole of these gentlemen's pecuniary charge against Sir Walter, and demolish their precious Abstract, which they say (p. 61) " has been most care- fully prepared," and which, if that assertion be true — I say has been most improperly prepared. I use the word advisedly, and I will make my assertion good. Look then at the entry in the Vidhnus. It stands thus: — 80 'letteiTto sir adaji ferguss-o.v, " State of Debts due by and to Sir Walter Scott, The amount of bills payable, now current, and to be provided fur by him, is . . £33,954 ] 1 3 Amount of bills receivable is £6097 18 1 Outstanding printing accounts, 4S8 9 9 Balance on Sir Walter Scott's account, 2 052 14 •>' £6586 7 10 £36,677 5 Sum due by J. JB. for which he has granted an assignation of his life policy of insurance ! ! ! 2524 1 1 8 9,110 11 IS Balance £26,896 5 1! " There is also Sir Walter's proportion of profits on printing to be placed to his credit in account with the Company, and one half of the stock of the Company. " The amount of discounts paid on Sir Walter's account, from 15th May 1822 to 17th April, being eleven months, is £1146: 19: a. Besides which there is the expense of exchanges, and stamps on remittances to Messrs. Curries, and bill stamps." I must pause for a moment to point your attention to the candid " accuracy" of this Vidimus. The framer of it, whoever he was, carefully culls out the discounts paid on what he calls Sir Walter's bills in eleven months — but no hint, you sec, that the *' frugal" James had, within these same eleven months, squandered £2000 of the means wherewith the bills in question were to be paid. More of this presently. To follow the particulars of the State : it shows the amount of current bills to be upwards of £33,1)00. But it does not establish that one single farthing- of these bills had been discounted for Sir Walter's accommodation. It is wholly silent on that subject. It shows that the amount LETTER TO SIR ADAM FERGUSSON. 81 of discounts paid betwixt May 1822 and April 1823, being eleven months, was upwards of £1100, and these are no doubt stated to have been discounts on Sir Walter's account — that is to say, they were dis- counts for the bills which had been transferred to Sir Walter — but the amount did not include one sixpence of discount for private accommodation of his, or uncon- nected with the renewal of Company bills so assumed by him. Nothing of the kind. This was never dreamt of anywhere till these accurate Pamphleteers were pleased to invent the fable, that the debt assumed by Sir Walter in 1816, was a debt of his own private con- tracting. The State shows, on the other hand, that lie was entitled to receive of bills due to the Company, and of outstanding accounts, a fraction above ^6500 — and that he was also entitled to a sum of upwards of £2500 due by James Ballantyne, for which his only security was an assignation to a policy of insurance. He made a bad bargain enough when he took upon him £33,000 worth of bills, and got in return only £6000 of bills and £500 of printing accounts, and an assignation to a life policy for X J 2500. But this, under the Vidimus, was the State made out against him — be it good or be it bad. Now observe, the bills receivable, outstanding accounts, and sum in the policy, amounted to £9110 : 19:6; this is entered in the State as a deduction from the £36,000 of debt ; and it leaves a balance of £26,896, — this balance being, I say, the accumulated debt of 1816, at this date. Well then, if there be nothing in this State to show the origin of these outstanding bills — and certainly it is silent on the subject — and if the contract of 1822 proves Ballantyne to have been Scott's personal debtor — if the missive letters establish that Scott had been the creditor from 1816 down to 1821 82 LETTER TO SIR ADAM FERGUSSON. — if Ballantyne could not marry without the consent of his lenient creditor — if all along Scott had been " the monied partner" — where is there a tittle of evidence to show, that because Scott took upon himself certain Company debts, he thereby acknowledged these Com- any debts to have been contracted for his own personal accommodation ? He never dreamt of making any such acknowledgement — and it was not the fact. I must pause for a moment to call your attention to another small specimen of candour. A certain sum of £2524 : 11 : 8, distinctly recorded in the Trustees' own Vidimus of April 1823 as a debt of James to Scott, makes part of the sum of £9110:19:6, which the Trustees place at the top of their 60th page, as the amount of assets to which Sir Walter was entitled to credit at the catastrophe of the Company — " He," say they, " under an arrangement, was entitled to bills receivable, and other Company funds, amounting to £9110 : 19 : 6." Now, had they given the particulars o/this £9110, the fact that £2524 of it was a debt due to Scott by Ballantyne would have stared us also in the face, and that alone would, with any reader of the least reflection, have blown the whole pamphlet. It would have proved their whole argument to be based upon a fiction or a delusion. And, by the way, how could they have reconciled it with their view of James Ballantyne's character, any more than with their view of his pecuniary position ? He, by their showing, is an independent man — Scott, by their own story, overwhelmed with diffi- culties — (they represent Scott, at the moment when James acknowledges owing him this £2524 as well as a balance of cash of £1629, as personally encumbered with bill debts to the extent of £36,000) — and yet here they represent the independent affluent James as not LETTER TO SIR ADAM FERGUSSON. 83 paying off the paltry £2524, but granting his creditor security over policies not payable until the day of his, the Bread- Caster's, death ! Keep this in mind while we examine another grand charge which these candid gentlemen advance. They go on to say, that — whereas, in April 1823, as ap- pears by the Vidimus, the current bills and debt of Scott amounted to £36,007 : 5:5 — at the date of the bankruptcy in 1826, Sir Walter's proper liabilities under the contract amounted to £46,564 : 10 : 5. This would have made an increase of £10,557 : 5s. But then they say Sir Walter, " under an arrangement, was entitled to bills receivable, and other Company funds, amounting to £91 10 : 19 : 6 ;" and as this ought to have been applied in extinction of the £36,007 : 5 : 5, and was not so applied, the total increase upon the ac- commodations for Sir Walter's behoof, betwixt 1822 and the bankruptcy in 1826, was £19,668 : 4 : 6. In short Sir Walter brought, by his neglect to reduce the accom- modations, this additional debt of £20,000 upon the concern, and (p. 61) " in fact his large wants swallowed up every thing." I have already shown that the out- standing bills at the date of the contract were not his private debts, but were merely assumed till the Com- pany's profits should clear them off. Their amount was £36,000; but, say these sage accountants, they were reduced by bills receivable, and other Company funds, to £26,000. Now what were the bills receivable, and other Company funds ? The bills receivable were £6000, the outstanding printing-accounts were a trifle under £500, and £2514 was a debt due by James Ballan- tyne to Scott. Now see the monstrous fallacy in these gentlemen's reasoning. Scott, they say, ought to have reduced the bills current in 1822 from £36.000 to 84 LETTER TO SIR ADAM FERGUSSON. £26,000, because he was entitled to be put in posses- sion of £9110: 19 : 6, '* as appears by the Vidimus." As respects £2500 of this sum, the utmost that Scott ever could have got was " possession" of an insurance policy. Another fund in hand was the outstanding printing accounts of £500. This will explain £3000 out of the £9000 which Scott did not get; all that he could get, supposing the bills receivable to be imme- diate ready money, was £6000 instead of £9000, to reduce the" £36,000 of debt. But did he get one farthing of these sums — there is no evidence that he did ; and the presumption is that he did not — for James continued to take charge of the concern — large sums were required for carrying it on — the Company bills for the old debt had to be pro- vided for — and whatever funds could be got hold of, were, it is obvious, applied to Company engagements, whether old or new, as they pressed. By no fault of Sir Walter's, accordingly, the £36,000 of 1822 became £46,000 in 1826. The Vidimus shows that the dis- counts for eleven months, independent of the expense of exchange and stamps, cost £1200; taking in round numbers the whole expense of carrying forward at this rate so large a progressive debt from 1822 to 1826, could not be less than £8000, — and for this we have the authority of the Pamphleteers themselves. Thus then the debt stood in 1822 at . £36,000 The bills receivable, which it is said Scott ought to have applied in extinction of these, were ..... 6,000 This leaves a sum for which he had no means of providing (except the Irish one of pay- ing the sum James owed to him) of £30,000 LETTER TO SIR ADAM FERGUSSON. 8.5 Renewals upon this large sum down to the bankruptcy, always increasing as the time advanced, . . . £8,000 £38,000 The total amount of the liabilities was . 46,000 Making an increase, as against Sir Walter in this view, of £8,000 instead of £19,000 and upwards. The irrefragable State, therefore, whose perfect accuracy " may be relied on, 11 is in this view wrong by £11,000 on £19,000, being more than a half. And I shall forthwith show who has to answer for the actual difference of £8000. Sir Walter, it will be said, ought to have applied the £6000 of bills receivable to the diminution of the out- standing bills. No doubt, this might have been done had Sir Walter insisted on winding up the concern in 1822, and if he had adopted that course, he would have acted more wisely for his own interest, than in accumulating by renewals those Company debts which he had taken upon himself, and which at last he was obliged to pay. But betwixt 1822 and 1826, were there no monies of the Company over-drawn by Mr. James Ballantyne, and appropriated to his " own private pur- poses," which, if they not had been abstracted from the Company's purse, would have diminished the necessity for increasing the Company's obligations? The sums drawn by him are noted on the mar- ISs ^2*19 15 7 S in > aS take " fr ° m aCCOUnts m his 1824^ 2842 19 8 own handwriting, and they amount to \m 2 eS 10 o £9 331 : 15 : 5 > from Ma y 1822 to Ja - nuary 1826. He was bound by the £9331 15 5 _ J , J Company contract not to take more 86 LETTER TO SIR ADAM FERGUSSON. than £500 a-year, or about £1750 ; — so that here is an over-draft on the part of Ballantyne, in direct vio- lation of the contract, of no less than £7581 : 15: 5. If ve compute interest on this insane expenditure we shall bring it considerably above £8000 ! And thus, Messrs. Trustees, you perceive that yours was not the only pos- sible way of accounting for " the increase of bills !" Why, supposing, for argument's sake, that all the bills current in May 1822 were Scott's, you must allow that no one knew their amount at that date so well as James Ballantyne — nobody could know so well as he, their origin and the mode of managing them — nobody could lie under a more sacred obligation not to swell their amount — and yet, Messrs Trustees, you must now admit that it was not Scott who increased their bur- then between 1822 and 1826 ! It does not appear that during this period Sir Walter drew anything in the name of profit, although some payments may have been made by the Company on his account, and the accumulated interest on the renewal drafts is all included in the grosss sum of debts proper to him of £46,000. Whether the £2500 due to him by Ballantyne, as stated in the Vidimus, did or did not in- clude another sum of £1629, stated in the same paper to be also due by Ballantyne to him as a balance of cask, or whether it included the sum acknowledged in the contract, I will not take upon me to affirm. Nor is it of the slightest importance — for this is abundantly clear, that out of the £9000 which James drew betwixt 1822 and 1826, he paid off no part of his debt to Sir Walter.* * Two payments appear to have been made by Ballantyne to Scott, — one of £1250, in October 1823, and another of £1200, in July 1824; but from the entries in the Cash-book, it is obvious that James merely drew the money from the Company to pay to LETTER TO SIR ADAM FERGUSSON. 87 He spent the whole of that sum during the three years and a half for his own personal expenses — that is to say, he violated his contract by taking at the rate of £2500 a -year, instead of £500. I feel very much inclined to print the entire particulars of this most in- fatuated man's lavish proceedings in an Appendix, but shall content myself with an article here and there, the whole being from the " Cash Jottings," in his own handwriting. These specimens may perhaps illustrate sufficiently the style of "frugal" Mr. James's opera- tions on poor Scott's purse : — 1822, May 28. Bill, Robertson, ironmonger, £60 5 June 12. Assessed taxes on Heriot Row, 34 11 1 July 3. Geo. Montgomery, 4 doz. Ma- deira, - - 15 4 „ 26. Cash, personal, - - 100 ! „ 30. Bill to Marshall, jewellers, per- sonal, - Aug. 1. Bill to John Wilkie, tailor, „ — Mr Bruce, auctioneer, „ 24. Subscription to Astronomical Institution, Sept. 21. Falkner & Co. - Nov. 6. Steele, for my son John's rock- ing-horse, - - 4 4 0!! his partner ! The drafts for these two payments are not included in the £9331 above noted. Upon receiving one of these sums Scott tells James that he must now be " upon velvet," but ought to bear in mind " the babes and sucklings ;" meaning, of course, that though the private debt to himself was about to be cleared by James's frugality, he ought to persist in the same frugality, that is to say, not overdraw the stipulated £500 per annum from the business, but do his best to render the business a clear inheritance for his family. No doubt James promised. 41 1 41 9 80 G 6 26 5 20 19 6 88 LETTER TO SIR ADAM FERGUSSON. 1823, Feb. 17. Purchase, Sol.-General's sale, £102 15 3 ! „ 22. Mr Bruce, auctioneer, - 49 Mar. 10. Pocket, at going to Teviot Grove and Kelso, - TO April 18. Lindsay & Co. for wine, 25 14 8 „ 24. Wardrop do. - 6 „ 28. John Ran ken, for glass, - 19 15 May 21. Price of Goliah, gig horse, 50 ! ,, 29. Wm. Dickson, further to ac- count furnishing drawing- room, - - 40 June 20. Taken for expenses to Harrow- gate, - - 100 0! Nov. 11. Bought at Young's sale, - 55 5 ,, 14. Redeemed Assessment, 9 years for Queen Street Gardens, 82 8 9 Dec. G. Seven Sovereigns to my son John to amuse him while confined, - - 7 0! 1824, Jan. 7. Sent to Mr. Stillie, to be at my call on Journal account, 70 ! ,, 12. Crichton & Co. one year of phaeton, „ 29- Sent Mr. Stillie for my call, Feb. 10. First and second instalments to Edinburgh Academy, „ 27. Bill to Mr. Trotter, personal, Mar. 3. Subscription for repairs to Kels Abbey, - „ 6- Ditto to Celtic Society, May 13. Horse, dennet, and harness, June 11. Wine at Captain Legg's sale, ,, 14. Dick, a pony for my John, ,, 16. A mare for myself, - 1825, Feb. 3. Wine at FotheringhanTs sale, „ 25. Lindsay & Co. wine, - 25 115 0! 30 190 14 3 5 5 2 2 90 0! 23 8 0! 10 5 0! 15 0! 49 1 11 3 8 LETTER TO SIR ADAM FERGUSSON. 89 1825, Mar. 26. Lindsay, for wine, - £9 15 6 April 7. Mrs Hogarth, price of her gig, 2o ,, 29. Wine at Commissioner Errol's sale, - - - - 39 6 Dec. 19. Cochrane, glass manufacturer, 50 All these are independent of entries of cash paid to Mrs. Ballantyne, and innumerable personal accounts. This is the appropriation to their " legitimate pur- pose" of the funds of Ballantyne and Co. This is the taking " with due regularity" the allowance under the contract. These are the family expenses which " SCARCELY EXCEEDED THE HALF OF HIS INCOME." These entries show the " frugal habits" which James so repeatedly promised to pursue, and of which the Pamphleteers assert and extol the strict observance — and here is the diminished expenditure so necessary on the part of this prudent partner, whose all was swallowed up by the exigencies of Sir Walter. The Company bills required to be increased, and no wonder. But there was " no despondency," and everything was kept comfortable at Heriot Row. New furniture for the drawing-room — wine at sale after sale — a rocking- horse, and then a pony, for John — horses, mares, phaetons — subscriptions to public institutions — assess- ments redeemed, and money " sent to Stillie for my call" — are items most characteristic of that rigid economy as to which, as well as in other matters, James Ballantyne " kept his word but lamely." Why do I trouble you, who knew his habits well, with all this detail ? " We must speak to these fellows by the card." I show you my proofs step by step as I advance. James was taking the Company funds in violation of the contract. These sums were obviously Sir Walter's — they were raised H 90 LETTER TO SIR ADAM FERGUSSON. on his credit — he eventually paid them — and if they had not been so squandered, his debts would have been by so many thousands less. You will judge, therefore, whether the increase of bills is more reason- ably accounted for by the overdrawings of one partner to the extent of above £7000 (with interest £8000 and more), or the non-application by the other partner of the sums stated in the Vidimus to have been received by him, but which he never received, and which, to a considerable extent at least, consisted of a personal debt due to him by Mr. James Ballantyne. The remainder of their " Abstract," showing the gross amount of Sir Walter's liabilities, apart from his liabilities proper, I do not comprehend the object of introducing. The last part of the State exhibits the whole responsibility as having been upwards of £88,000. But this has nothing to do with the question as raised by these Pamphleteers themselves. The intermediate part refers to " Accounts, No. II. & III." to which I have had no access, and the nature of which I do not even know. I took it for granted, that when these gentlemen appealed to figured documents of any sort in a discussion of this nature, the writer whose statements they impugned had a right to be allowed free access to the documents : I presume, if there could be any question as to the right in any other supposable case, there could be none in this case, where the documents must ex facie be considered as the common property of the two partners under discussion ; and I now complain that my request on that head has not been complied with. If you look to the bottom of their 60th page, you will perceive this sentence: — " Add excess of payments for Sir Walter, over sums received from him, as per account No. III., £17,142 : 18 : 10." LETTER TO SIR ADAM FERGUSSON. 91 " As per Account No. Ill !" Where is it? — Why do the " Refuters" omit it? I think it very likely, that ninety out of a hundred readers of the pamphlet, in- cluding all the newspaper critics thereof, never remarked the omission ; but a very important omission I do hold it to be, and I, through my agents, conveyed a formal request for its production. The answer was, that the Trustees did not choose to give me the perusal of a do- cument which they had made up, from the books of the Company, for their own private use, with considerable trouble ! No doubt, then, if they would not furnish " Account No. Ill," they could and did produce such a set of books as, being carefully examined by competent men of busi- ness, would enable them to arrive at the result stated in the sentence above quoted ? I am sorry to say — no such thing. The books and documents to which, after much delay, the Trustees at length gave my agents ac- cess, are such, that these gentlemen having scrutinized them with all possible diligence, tell me they can draw from them " no such result." The gentlemen I allude to are Mr Robert Cadell, my publisher in Edinburgh, and Mr Isaac Bay ley, the legal agent of Sir Walter Scott's representatives. It would be silly in me to pre- tend, that if the books were before me, I could examine them with half the skill that either of these gentlemen placed at my disposal. I must consider myself as fully entitled to adopt the conclusion at which they have seve- rally and conjointly arrived. The Trustees have declined, in like manner, to produce — and my agents make the same remark with reference to the non-production of — the paper which the Trustees speak of as " Account No. II," and appeal to as their authority about " Exchange on remittances to Lon- 02 LETTER TO SIR ADAM FERGUSSOTJ. don," " Interest on advances by bankers," &c &c, &c. (p. 60.) The books which they have produced are in a state most discreditable to Mr James Ballantyne. There are no regularly kept books. The Trustees have exhibited none of the early ledgers : no cash-book for the period from 1817 to 1822 is forthcoming; and the books after 1823, are not even summed up. But I need not pursue this branch of the " Abstract" further. It is on the first part of it, which I have already handled, that their charge is rested — the charge of the bills taken by Scott upon himself, which are falsely assumed to have been for Scott's personal accommodation, being increased betwixt 1822 and 1826 by the sum of £19,000. Their Vidimus, taking it as correct, although it apparently never was acknowledged or adopted by Scott in any way, unequivocally contradicts in most important par- ticulars the " accurate Abstract" which is founded upon it by these Trustees. It neither proves that one far- thing of the debt contracted between 1816 and 1822 was Scott's private debt — but the contrary — nor does it afford materials for the State so inaccurately based upon it, and so fallacious in itself — what then remains? Scott acquired the estate of Abbotsford, and lived in a style of great expense ; and it will be said, per- haps, that the accommodations of James Ballantyne and Co. were useful for his investments. These stood, in 1823, as per the Vidimus, at £36,000, and they were increased in 1826 to £46,000 — an increase not at all unlikely to be accounted for by the renewals on the one hand, and the extra consumption of £8000 of anticipated profit by James Ballantyne on the other. If there be not. a scrap of evidence to show that the original debt of £36,000 in April 1823 was created for Sir Walter's pri- LETTER TO SIR ADAM FERGUSSON. 93 vate investments, all that I require to show, in order to complete his defence, is, that there were personal re- sources at his command, out of which the price of his lands and the expense of his household could be paid. This can be very easily done. Scott, as we have seen, bought no land until 1811. (1.) He then made a purchase to the extent of £4200 ; but before the end of 1810, he had derived from the Lay, Marmion, the Lady of the Lake, &c. &c. not under £10,000. (2.) In 1816, Scott made his second and third pur- chases of land — the two amounting to £5119. In that year, James Ballantyne is acknowledged to be his per- sonal debtor for £3000; — and his writings betwixt the end of 1810 and 1816, including Rokeby, the Lord of the Isles, Paul's Letters, Waverley, Guy Mannering, the Antiquary, Old Mortality, &c. &c. had brought him at least £25,000. (3.) Between 1817 and the date of the missive let- ters of 1821, Scott had made various further purchases of land to the extent of £19,764 ; but within the same period his literary profits were not under £45,000. In all, up to June 1821, Scott had invested in land £29,083 ; — but, in addition to his private fortune, he had been since 1811 possessed of an official income of £1600 per annum — and he had gained as an author £80,000. Make any allowance for building and planting (though neither had gone on on a large scale before 1821), and admire the modesty of the Pamphleteers, who quietly cushioning all these data, as well as the real relations of James and Scott during the five most important years of the whole period to which the said data refer, " bring out the truth of the case" by suppressing all its main 94 LETTER TO SIR ADAM FERGUSSON. facts. After this, believe if you can that Sir Walter, from 1805 to 1822, engrossed " for his personal behoof" " all the profits" of the Ballantyne business, " and more than all." Doubt if you can, that the Ballantyne busi- nesses, under the mismanagement of these worthies, had engrossed a very large share of the hard-won fruits of Scott's genius and labour — genius and labour alike w r onderful, but not so wonderful as the long-suffering forbearance, unwearied kindness, and inexhaustible cha- rity of the man whom James Ballantyne's Trustees, " acting in concert with the family," dare to represent as the greedy rapacious plunderer of beings who derived, in fact, from his overflowing bounty, from the dawn of their manhood downwards, every jot of credit or con- sideration they ever enjoyed, every gratification their luxurious appetites and ludicrous vanity ever received. I think I have said enough as to the sources from which Scott received the money expended on the pur- chase of his lands and the improvements of Abbotsford; and I must have satisfied every candid mind, that the debts taken upon him in 1822 were not his private debts, and that the ultimate liabilities were encreased, not by his private transactions, but by Ballantyne's " frugality," and the renewal of the Company accom- modations. These are the points I was particularly anxious to make clear. I beg it to be explicitly under- stood, that I by no means assert that Sir Walter on no occasion made use (with James Ballantyne's complete knowledge of course) of the Company's credit or funds for an occasional emergency. One case is referred to by the Pamphleteers, when he required, it seems, an immediate draft to pay the price of one of his son's com- missions in the army ; and there may, no doubt, have LETTER TO SIR ADAM FERGUSSON. 9<5 been others. But Scott never failed, on receiving the money for a new novel, to replace such advances.* I need hardly repeat, that the mere expense of the re- newals, admittedly at the rate of £1200 a-year, exclu- sive of stamps and exchanges, and of course always advancing to a larger sum year after year, is in itself sufficient to account for the increase of £10,000 be- tween 1822 and 1826. But in truth, if Scott had drawn in this shape monies out of the concern during that period, neither would this, on the one hand, esta- blish the charge now brought forward against him; nor, on the other, would it be matter of which Ballantyne, who had overdrawn his share by at least £8000, could possibly complain ? Everything being clear, then, as to the state of Sir Walter's advances at the date of the contract in 1822, — it being proved that he had not received private and personal accommodations prior to the institution of the new Company — and the fact being also established that he had not increased for his own purposes, by renewed discounts, the debts of the Company betwixt its insti- tution and its termination in 1826 — what more remains to be said in answer to the charges in the pamphlet ? — Not much — but something ! I have now reached the most painful point in the whole of this production — the assertion of these Trus- tees, that " the catastrophe of 1826 first revealed to Mr James Ballantyne the astounding fact, that a year be- * The only letter that I have seen in which Sir Walter alludes to a Company bill drawn for his personal accommodation, states the nature of the literary work by which he would forthwith can- cel it ; and the anxious delicacy of his language can leave no doubt that in other cases, if such there were, he followed the same course. 96 LETTER TO SIR ADAM FERGUSSON. fore, the foundation upon which he built all his hopes of safety had been destroyed by the deliberate act of his friend and partner." Here, thank God, there is no need for me to hunt out our friend's vindication from among the mazes of figures. I believe I can satisfy every rational being, that here the Trustees have (though I by no means say consciously,) asserted a flagrant un- truth. But, first of all, let me ask any candid man who has followed me in my minute deduction of the position in which Scott and Ballantyne stood to each other as to money matters at every marking stage of their connec- tion, — and indeed throughout the whole course of it, — whether he is of opinion, that when the marriage of Cap- tain Scott and your niece was on the tapis in the begin- ning of 1825, Sir Walter was bound to consult James Ballantyne about anything he might please to do with respect to the settlement of his landed estate? The Pamphleteers choose, you see, to suppress all allusion to the fact, that the settlement then made reserved to Sir Walter the right of borrowing £10,000 on his lands, and that this sum was accordingly borrowed, and applied to the purposes of Ballantyne & Co. and Con- stable & Co. before the end of 1825 — the loan being negociated and the necessary instruments prepared by James Ballantyne's brother-in-law, Mr George Hogarth, W. S. Besides this £10,000 worth of land at Abbots- ford, left free, Sir Walter had other property, both real and personal, which the marriage-settlement nowise af- fected, to an extent infinitely beyond anything that could ever have been claimed from the real and personal estate o*f James Ballantyne — a freehold house, &c. in one of the best streets of Edinburgh — books, &c. in the country, worth at least £10,000 — the copyrights of several im- LETTER TO SIR ADAM FERGUSSON. 97 portant works, which works alone realized a very consi- derable dividend to the creditors within the first eighteen months of the trust — to say nothing of the power of se- curing large sums at any time in the shape of life as- surance. Was it necessary that Sir Walter Scott, being thus situated as to real and personal property, and other resources equally available, should feel himself bound in honour and honesty to consult his debtor Ballantyne as to such arrangements as he did make in the view of his son's marriage ? I apprehend no man of common sense will say that he was bound to do any such thing ; and I am very sure no one can have read the Memoiis of his Life without believing, that when that settlement was made, he considered himself to be in possession of resources independent of those which it affected, far more than sufficient to meet any demands that existed against him as the partner of Mr Ballantyne. But whether he consulted Ballantyne on the business or not, that Ballantyne must have been perfectly cognizant of what Sir Walter then did, at the time when it was done, is a fact susceptible of most abundant proof. These Trustees appear to forget throughout their production, but most especially on this point, the sort of position which Sir Walter Scott held in the society of his native city, and in the public eye of the whole coun- try. Edinburgh is the residence of as lively, curious, o-ossiping a community, as ever existed on the face of this globe. Sir Walter was the foremost man within her walls primus absque secundo. In his " own romantic town," there was more curiosity and speculation about his movements than about any other individual in the whole world. He was the Great Unknown and the Great Wellknown ; and the establishment of his son and heir was, — as everybody who had then passed child- i 98 LETTER TO SIR ADAM FERGUSSON. hood must well remember, — a matter of more interest among the talkers of a town of talk, than any similar event in any other family in all Scotland. I have not been much in Edinburgh of late, but I was there twice, each time for a few days, subsequently to the publication of this pamphlet, and I asked every acquaintance of Sir Walter Scott's that I met with, whe- ther Ae did not know all about the settlement of February 1825 at the time ? Professor Wilson, Sheriff Cay, Peter Robertson, &c. &c. — in short, every one answered that he did. The thing occurred when the Session was full ; it was the discourse of every knot in the Outer House — and no one I could come at had ever entertained the shadow of a suspicion that any attempt to keep an iota of the matter secret had ever been dreamt of. Among the literary circles, of course, the curiosity was espe- cially quick. Mr Cadell bears witness that everything was known and discussed openly in Constable's shop — and most certainly the same was the case at Blackwood's. If it was well known in such places, who can swallow the assertion that it remained then, and for nine months afterwards, a secret in the printing-office of James Bal- lantyne and Co. ? You, of course, were present at the dinner recorded in the Life of Scott, vol. vi. p. 2, after which the contract was produced and signed ; when Sir Walter, laying down the pen, exclaimed, that he had more satisfaction in parting with his estate than he had ever derived from its acquisition. You well remember the feelings with which we all heard those words, — and I suppose, when I offer distinct evidence that James Bal- lantyne was invited to be present in Sir Walter's house on the evening of the wedding-day, few will doubt that he did join the party then, and pledge with hearty zeal LETTER TO SIR ADAM FERGUSSON. 99 many a bumper-toast, in which perfect knowledge of all that had happened the day before was implied. On the 26th of January 1825, Sir Walter's excellent friend, Charles Erskine, his Sheriff-substitute, died at Melrose, and Sir Walter was of course invited to his funeral, which took place on the 3d of February: but he could not attend — for the marriage-contract of his son was to be signed in Castle Street on the evening of the 2d of February, and the wedding had been fixed for the 3d. To Mr James Ballantyne. " Dear James, " Our great day is on Thursday 3d. As it is unconstitu- tional this season to have [large] parties on an assembly night, we propose to have a little evening party on Thursday. I hope Sandie and you will attend. I expect we will have some good singing. " Poor Charles Erskine's death hath thrown a damp on my festivity. I shall never have a more true friend. His last letter to me requested to know the day, that he might be at his post, and drink at least one bumper, and ere it comes he will be lying in Dryburgh Abbey. " Come nevertheless, for regrets avail not ; and I hope Sandie will be so kind as to bring the violin as well as the little mirth- maker.* " I get into my wheel again to-morrow for certain, having an- swered my century of applications for the Sheriff-substituteship. — Yours truly, W. Scott. 1 ' The few surviving members of Sir Walter's family concur in stating that the terms of the contract were familiar at the time to all their circles of acquaintance The intimate friends with whom Sir Walter was in * Mr Alexander Ballantyne excelled on the flageolet. 100 LETTER TO SIR ADAM FERGUSSON. habits of constant correspondence — Lady Louisa Stuart, Lord Montagu, Mrs Joanna Baillie, Miss Edgeworth, Mr Morritt, were all informed of his arrangements by himself, or by some of his family, at the time. But excuse me ; I really feel the gross ridicule of labouring this point in a communication addressed to you. You had been like a brother to him from his earliest day ; but excepting yourself and Lady Fergusson, he certainly had had previously no familiarity with any of the nume- rous relations of his son's bride. They were all, of course, well informed of every particular touching the great incident of her life. Her guardians requested, as they were bound to do, a settlement such as was made, and made with joy and alacrity, by Sir Walter. Did all this new circle of connexions abstain from talking of the circumstances under which their young lady's alliance with Sir Walter Scott's house was to take place ? The contract was drawn up by, and signed of course in the presence of Mr Isaac Bayley, one of the bride's nearest relations, and the legal manager of her affairs. I submit the following extract from a recent letter of that gentleman's : — "Edinburgh, 21st Dec. 1838. " I hope you will not think me officious if I allude to that part of the Ballantyne Pamphlet in which the present Baronet's con- tract of marriage is mentioned. I prepared that deed, and the pretended ignorance upon the part of Mr Ballantyne, of the fact that that deed settled the fee of Abbotsford upon the present Sir Walter, is what I for one cannot credit. Even had the late Sir Walter not himself informed Mr Ballantyne, he must, I am sa- tisfied, have known it from other quarters. No concealment whatever was dreamt of. Lord Corehouse, then at the bar, was, I know, consulted by Sir Walter upon the very point of the settlement of the estate. Mr John Shank More, Advo- cate, revised the deed: the Deputy- Keeper of the Signet had it submitted to him for a particular purpose, immediately upon LETTER TO SIR AD'AMFERGUSSON. 'TGI its being executed. There are no less than seven trustees named in the deed, Sir Adam Fergusson, the present Dean of Faculty then Solicitor-General, and the Reverend Dr David Dickson of St Cuthbert's, being three of them; and I personally know that the subject was talked of in the society of Edinburgh wherever the parties were known, and you could hardly have met an indi- vidual at the time, of Sir Walter's acquaintance, unacquainted with the fact. Indeed, I shall venture to say, that the impres- sion created by Lady Scott having had a handsome fortune led to the conviction, and a natural one it was, that Sir Walter on his part must have settled Abbotsford in the marriage-contract on his son's family. I may add, that immediately after the mar- riage, infeftment passed upon the contract over Abbotsford, ami " Uie instrument was recorded, thus making the deed patent to all the world. But the one fact of Messrs Constable and Co., who at the time were habit and repute in good circumstances, know- ing of the settlement of Abbotsford, is conclusive that no con- cealment was attempted; for they of all parties, from the large accommodation they were affording the printing concern, would have been kept in ignorance, had such been an object; but they knew all, and who will believe that they, if no other party did, would not inform Mr Ballantyne?" Mr John Hughes (p. 49), a person employed, it seems, in the printing-house, and one of James Ballan- tyne's testamentary trustees, is the sole authority adduced for the allegation which I have last been discussing. Ballantyne's own brother Alexander, and one of his brothers-in-law the Hogarths, are also Trustees — but they say nothing — the statement rests entirely upon Mr Hughes. I know nothing about this individual — I never heard of him before ; but I think I may, without any egregious trespass upon charity, conclude, that if James Ballantyne ever did say anything susceptible of the interpretation adopted by these Pamphleteers, it escaped his lips in some moment of flatulent self-indul- gence — what Saunders Fairford calls " blawin' and bleezin'." Mr Hup-hes' note is addressed to Mr Cadell 102 LETTER TO SIR ADAM FERGUSSON. in October 1837, twelve years after the transaction as to which he speaks. He says, it is notorious that the whole of the bills were Sir Walter's, and that James did not know of the settlement of Abbotsford in the mar- riage-contract. The marriage-settlement was indeed no- torious, and is it credible that James could be ignorant of that publicly recorded settlement of the estate — the subject of universal conversation? If so, I will venture to say he was the only one, — lawyer — lady — publisher printer — or publican, within the four corners of Auld Reekie, who remained uninformed of a matter so engross- ing to the feelings of his partner and patron. The thing is ridiculous. On the other hand, it has been demon- strated that the bills were not Sir Walter's, but original Company debts, and renewed as such ; so that if to this part of the statement the allegation of notoriety is to be applied, it is only upon the principle of rumour being a common liar. Since Mr John Hughes has been introduced, it may be as well to say a word here as to another matter in which the pamphlet, as far as I understand it, contra- dicts me upon his authority. I allude to my statement that the disaster of Sir Walter Scott's affairs was much aggravated in consequence of certain counter- bills, held by the Constables, being thrown into the market, under circumstances which Sir Walter could not have contemplated or provided against. Mr Hughes denies that anything of this sort occurred, and the " Refuters" seem to adopt his denial. They produce some letters, which on seeing my proof-sheets in his professional capacity, he addressed to my publisher, Mr Cadell, in the expectation that Mr Cadell would forward them to me, and that upon their strength I would alter what I had written as to this business. Mr LETTER TO SIR ADAM FERGUSSON. 103 Cadell tells me, that he considered Hughes's interference about a work advancing through the press of his em- ployers, as presumptuous, and that he should have thought it wrong " upon principle, 1 '' to forward any- such dispatches to the author whom they criticised. He never communicated them to me, but had he done so, I certainly should have paid very little attention to their tenour, for this reason, which I presume you and every other sane man will hold satisfactory, — namely, that the statement which this subaltern of the Ballantynes impugns, was drawn up by me on the authority of Mr Cadell himself, the surviving partner of the house of Constable, and, as you well know, one of the most acute men of business in existence. Mr Cadell might perhaps have done well to call my attention to the possibility of some blockhead's taking in a literal sense what I said about the " accumulation of a truly monstrous sheaf of bills, 1 '' — a figure, of course, for a monstrous accumulation of obligations, no matter whether embodied in bill piled upon bill, or bills re- newed and increased in amount. But the only point I cared one farthing about was the fact that, according to Constable's partner, Scott could not have anticipated being called upon to discharge twice over the monies indicated by a certain large amount of bills drawn by James Ballantyne & Co. ; and Mr Cadell's letter on the subject, addressed to me in October 1836, opened this topic in these words: — " One thing Sir Walter never could have foreseen?' I have in my own hands, however, clear evidence, that at a much earlier stage of the Ballantyne history, a suspicion did arise, that Constable might throw into the market acceptances, of which the other party had not anticipated the circulation. I find among Sir Wal- 104 LETTER TO SIR ADAM FERGUSSON. ter's letters to Johnny Rigdum one dated 12th August 1819, in which he says, " Your conjecture is wrong about Constable's negociations. They have all our ac- ceptances in their pocket-book. James saw them the bikes day." Mr Hughes's real object, however, is to vindicate the Ballantynes from the charge of having neglected then business and Scott's, by, inter alia, never giving him true, full, and accurate statements of the condition of their joint affairs; and Mr Hughes is much mistaken if he supposes that he can get over this by telling that they sent Sir Walter lists of bills — bills so hugely increased by James's extravagance unknown to Scott — lists he pro- bably did little more than glance over — when it is now clear beyond all controversy, that no proper, regular, intelligible books were kept in either concern ; and that year after year, the printing partners' accounts inter se were never balanced by the manager, whom the deed of copartnery expressly bound to do so once at least in every twelvemonths. And the Trustees are quite as much mistaken, if they imagine that they can get over facts such as these by merely requoting from my own book merciful expressions of Sir Walter's with respect to his partners, which I inserted for no other purpose but that of exhibiting his gracious magnanimity, proof against almost unparalleled provocations ; or by quoting the opinions of third parties, who had not, and could not have had, the least access to the secret history of James Ballantyne as a partner. Finally as to Mr Hughes. That person (p. 47) asserts that Sir Walter was well aware of all the ob- ligations on the Company, and that " of all these obli- gations Sir Walter kept a regular account in a book of his own (a royal 8vo. bound in red morocco). This LETTER TO SIR ADAM FERGUSSON. 105 matter," he adds, " was no further under James Bal- lautyne's management than as he was the mere instru- ment in getting the bills discounted." In another part of the pamphlet (pp. 34, 35), it is stated that Sir Walter was made acquainted with the situation of the hills by the exhibition of regular monthly states, and also that he " kept a private record of these bill engage- ments, which his son-in-law may by possibility have seen;" — and then reference is made to Sir Walter's accurate habits as to his own personal accounts, as if this private record had been something of the same description. Now, I never asserted that Sir Walter was not made acquainted with the bills, and I was far from saying that he did not see, or might not have seen, monthly states of these current obliga- tions; — what he was kept ignorant of was not the granting, but the application of the proceeds of the bills, and the manner in which James Ballantyne was scpian- dering these proceeds. But as to a private record, in the sense of these Pamphleteers, there was nothing of the kind. I have seen the red book, which passed to and fro between Sir Walter and the counting- house — and which was so little of a private descrip- tion, that it was known to the partners' clerks. I went over it line by line ; — and I assert that there is not one jotting in Sir Walter's handwriting — not a single mark of that from the first page to the last. Surely there is gross unfairness in representing tills public bill-book, to which all had access, as if it had been a private record in Sir Walter's own handwriting, and therefore tending to show that the bills had been private transactions of his own, which he entered in the same manner for his own private satisfaction as he did his personal expenditure. The book-keeper, 106 LETTER TO SIR ADAM FERGUSSON". Mr James, would have done well, had he in his depart- ment imitated Scott's accuracy in these personal mat- ters ; but Mr James could never have represented the bill-book, known to this Mr Hughes himself, a clerk of the concern at the time, as a private record of Scott's own ; nor could anything be more absurd, than to draw from such an assumption (even had it not been entirely erroneous), the inference that the bills were for Scott's private accommodation. Such is another specimen of the slender threads upon which all these charges are hung. The Pamphleteers seem to lay great stress on a cer- tain malagrugrous exposition of his own views and prospects, drawn up by James Ballantyne in February 1826, when he was eager to have the Company seques- trated at once, which, but for Sir Walter's heroic feel- ing and spirit, it no doubt would have been. One must make due allowance for the agitation and excitement of the poor man at that moment ; but when the Trustees print in italics his statement, that in case the line of a sequestration were adopted, he would soon be " disen- thralled from the painful bonds of dependence, and, as I trust, with a character not injured by any investiga- tion which might take place," and his puling about his family having been " reduced from affluence to beggarv by no particular error of my own,' 1 '' they invite attention to most lamentable absurdities. Reduced from afflu- ence ! They had only been removed from the side of a well of other people's money, into which Mr James had nimbly dropt his bucket during twenty years when- ever it suited his purpose so to do, and undoubtedly all bis kith and kin had partaken largely in this species of affluence. We have seen how liberally the old Anchises was nurtured, after this pious ./Eneas had borne him on LETTER TO SIR ADAM FERGUSSON. 107 his shoulders from the ruins of his Kelsonian Troy. James was good to " his own." One entry of his ex- penditure for 1823 is, " To seven sovereigns for my son John, to amuse him while confined," — in other words, for the young Ascanius to play with when he was in bed with the measles ! His rocking-horse and his pony were ready for him when he recovered ! At the break-up, a Mr Hogarth, his brother-in-law, stood in- debted for the sum of £1563 : 7s. advanced to him by this kind friend out of the funds of James Ballantyne & Co., and never yet repaid ; and for several years James's accounts also show that he regularly advanced from the same source " £20, Mrs. Hogarth's annuity." These, and many others which could be quoted, were all kind things; but they remind one of a certain very old definition of liberality — " Hoc demum liberalitas appellatur aliena bona largiri." Had Mr James adopted a proper course of conduct in 1816, he had then a fair opportunity of laying the foundation of affluence for his family ; but no human power could have reduced them from affluence in 1826, because, from 1816 to 1826, he had never been worth one shilling, though he lived all the while in luxury, drove Creusa and As- canius about in that symbol of cockney respectability a gig, drawn by " my horse Samson ;" and when his " nether bulk" was in a disturbed state, relieved the inner man by the well-regulated trot of " my horse Goliah," — both of which useful animals figure in the record. Well might James whine about " no parti- cular error of my own," and trust, after such a career of being trusted, that his character would not be in- jured by any investigation that might take place. There is, however, at least equal coolness in what en- sues, for he proceeds to say, that on a close calculation he 108 LETTER TO SIR ADAM FERGUSSON. finds that, were the concern sequestrated, and his certi- ficate signed, and himself enabled to recommence the printing solely on his own account, the profits would yield him a clear income of £1800 a-year. In all this calcu- lation, which James says he would willingly " subject to the most rigorous examination, 11 sundry points of con- siderable importance are entirely omitted. First of all, our friend seems to have anticipated the comfortable discovery of his pamphleteering eulogists, that he was not James Ballantyne, but James Ballantyne & Com- pany ; a fact which it puzzles me to reconcile with the existence of such a man as Sir Walter Scott, described (to say nothing of fifty other documents) in the letters missive of 1821, as having contributed to the estab- lishment and success of the business all along, at least as much as the said James; and which I am also at a loss to reconcile with anything I have ever heard about the procedure adopted under the laws of the land in the case of a sequestrated company. No one can now doubt, and indeed these sapient Pamphleteers have themselves demonstrated, that a sequestration must have prostrated James in the utmost humiliation of ruin. A judicial trustee, acting under the authority of the Court of Session, could have known one partner no more than another. It was the Private Trust, adopted and followed out in consequence of Scoffs resolution, and the feelings with which all the creditors regarded him, — it was this, and this alone, that saved James Ballantyne. The gigantic efforts made by Sir Walter in 1826, 1827, 1823, and 1829, cost him health and life, but they were the salvation of James. The pay- ments derived from Sir Walter's writings were so large, that the trustees of the creditors, from the first acting in everything with reverential deference to him, were LETTER TO SIR ADAM FERGUSSON. 109 disposed to concede to his expressed wishes with respect to Ballantyne; Scott undertaking to clear off ultimately the whole outstanding debt. James was then and thus enabled to establish himself as the Canongate printer, " the profits entirely his own ;" and the said profits would, after all, have been insufficient to enable him to wipe off the new debt he contracted to the friends who bought office, materials, &c for him, and ultimately to place his family in real affluence, unless Scott had continued to hold over him the shield of his patronage, and forced the largest regular supply of profits that any printer in Europe ever derived from any one private source, to flow during the whole period of his own fatal struggle, into the coffers of Ballantyne. I had almost forgotten to observe another extraor- dinary piece of assurance on the part of these Pam- phleteers. They tell us that the success of the print- ing business after January 1826 is of itself sufficient proof of the utter absurdity of all my allegations about James Ballantyne's inattention and mismanage- ment in the previous period. Charming logic ! During the four years 1826-1829, of which they exhibit the prosperous business and well kept accounts, the concern was not in James's hands at all, but first in those of the creditors' trustees, Messrs Jollie, Mony- penny, and Gibson, three long-headed writers to the signet, who kept a sharp eye upon every item of ex- penditure, allowing James to meddle with nothing but the supervision of the typography, for which they paid him his salary of £400 ; — and afterwards of the excel- lent Mr Cowan, who appears to have advanced the money for the purchase of the printing-house, types, &c. from the trustees. James was then confined to the " parts of the business which he really liked," and had nothing to 110 LETTER TO SIR ADAM FERGUSSON. do with " the most important points," of which, in June 1821, he has confessed his gross neglect, and as to which he persisted in his negligence so long as he was Scott's partner. I find him writing to Scott on the 28th December 1826, " My judgment in commercial matters, is meagre enough," — and so it was. But by that time the management was no longer the same, though the protection and patronage were. And if, after he had the management again, the concern continued to be conducted in a style very different from what its history down to 1826 has exhibited, is it not plain that this was the consequence of the man's having then at last arrived at the years of discretion ? He did take warning from the calamity which, but for his guardian angel, must have crushed him to the dust. He did look to his situation as it had been, as it was, and as it might come to be. He adhered to the system of management which he had seen substituted for his own. In fact, he was by that time a changed man in almost every respect — inter alia, he had substituted prayer-meetings for the gossip of the green-room ; and if I understand aright a very curious part of his correspondence with Scott, he had become one of the worshipful society of tea-totallers ! I am very unwilling to plague you with another deduction of figures, and perhaps it is idle to ex- pose further the gross inaccuracies with which this pamphlet abounds. Why the minute State of accept- ances passing between James Ballantyne and Co. and Constable and Co. in the year 1822 is introduced, ex- cepting for the purpose of mystification, I cannot conjecture. Nor, as I have already hinted, can I see the bearing of that part of their main State, on pages 60 and 61, in which the large ultimate balances are introduced, exceeding £80,000, all of which — and the LETTER TO SIR ADAM FERGUSSON. Ill sum includes the not inconsiderable private debts of James Ballantyne ! — Sir Walter had to pay in the end. But I must say a few words more about one astound- ing piece of audacity exhibited at p. 58. It is there gravely asserted, that, " for behoof of Sir Walter Scott's creditors, Mr James Ballantyne contributed upwards of £8000, independently of his share of business profits, from Whitsunday 1822 till January 1826, and his pro- portion of the profits on the novels, minus the amount of his family expenses for the same period, which last scarcely exceeded the half of his income" In order to make up this sum of £8000, we are re- ferred to States on the two immediately preceding pages, showing that there was a balance of the pro- ceeds of the printing concern of £6563 : : \\ ; and in order to make this amount to upwards of £8000, there is added £1400 as Mr Ballantyne's interest in the Weekly Journal, and £800 as the price of a house he was having built in Anne Street. Now supposing that Ballantyne's share of the Weekly Journal afforded the sum stated, which I beg leave to doubt, and letting the house pass at £800 (al- though, in point of fact, I understand the net sum realised from it, after repaying the outlay of the Trustees, was exactly £125 sterling), of what do you think this £6563 composed ? It is of the proceeds of Mr Ballantyne's house in Heriot Row — £1700 — of £185, 10s. drawn by the sale of certain policies on his life ; and all the rest is the assets in the printing-office, the materials, printing accounts, profits from carrying on the business after the bankruptcy, &c. &c. — all re- covered by the Trustees betwixt 1826 and 1830. Upon what possible pretence is the whole of the proceeds of James Ballantyne and Co. to be set down in any ar- 112 LETTER TO SIR ADAM FERGUSSON. rangcment, exclusively to the credit of Ballantyne, when Scott was a partner to the extent of one half? And as to profits to the credit of the frugal James, I think I have pretty well settled that point, by showing that Mr James spent no less than £9331, during the three and a half short years of the last copartnery. It would be an unnecessary waste of your time, after what T have just stated, to make a computation of what Mr James had in 1828: he will be a bold defender of the " frugal" printer, who will assert that he was not, as an individual, many thousands under water at the smash ; and it must be obvious, that the longer he ran at his railway pace of expenditure, the worse he must have become. But there is still another twig by which these sinking " Refuters" may wish to catch. Sir Walter, with a generosity almost unequalled, writes in January 1826 (Pamphlet, pp. 42 and 43) that James's difficulties, as well as his advantages, were owing to him ; and he finally consents to his discharge in a letter expressing his satisfaction, that in all their transactions James had " acted with the utmost candour and integrity." The conclusion to be drawn from this will go but a short way to excuse our Piimphleteers. Observe that Sir Walter never attacked the integrity of James Ballan- tyne. Neither did I. On the contrary, I expressly said (Life, vol. vi. p. 110), that " I had no intention to cast the slightest imputation on the moral rectitude of the elder Ballantyne. No suspicion of that nature ever crossed my mind. I believe James to have been from first to last a perfectly upright man — that his prin- ciples were of a lofty stamp — his feelings pure, even to simplicity." Here the matter stood ; and here it would have been fortunate had these friends of the deceased LETTER TO SIR ADAM FERGUSSON. 113 allowed it to stand. The whole import of my state- ment was, that, as a man of affairs, and as manager of the business, Ballantyne had injured Scott by his care- lessness arid inefficiency. It is the Pamphleteers who make the charge, and not I. It is they who impugn Sir Walter's reputation, and charge him with sacri- ficing the Ballantynes by using the funds of the con- cerns for his own private purposes. And if, in investi- gating the matter now, errors upon the part of James Ballantyne have come to light which were concealed from Scott at the time — if it now appears, for example, that James had spent £9300 between 1822 and 1826, instead of restricting himself to £1750 — and if from this or any other fact disclosed, a harsher conclusion is now to be drawn — if it is to be held that in many things Scott was blinded, if not deceived — what avails it to the accusers of Scott to refer to the generous effu- sions of his unsuspecting nature? The question now is, not whether Scott in ignorance drew too favourable a picture of the partner whom he had so greatly bene- fited. It is, on the contrary, whether these Pamphle- teers have been justified in the charges they have brought forward against Scott. I doubt extremely whether Sir Walter, if now alive, would have given them a white-washing certificate. If John Ballantyne's precious States and business-like valuations had been explained to and understood by him — if he had been old that the concern was bankrupt at a time when it was represented to him to have been realising 50 per cent, profit — if he had seen that James was violating the contract by drawing at the rate of £2500 a-year, instead of limiting himself to the more suitable pro- vision of £500 — and if, in order to establish, as against him (Scott), the false accusation, that, for his K 1 14 LETTER TO SIR ADAM FERGUSSON. own pecuniary advantage, he had ruined these Ballan- tynes, the unadjusted States had been perverted, sums had been carried to the wrong column, and upon this perversion new accounts had been reared up, as indefen- sible in principle as inaccurate in detail — whatever his charity might have led him still to hope, I hardly think that he could have complimented our Pamphleteers as having acted with the utmost candour. It is impossible to contemplate Scott's generosity to these Ballantynes, without wondering at the bewildered malignity with which the production before me has been elaborated — and without blushing for James in particular. We have Scott giving him the means to pay a debt of £3000 in 1816, and above £4000 from the same source to expunge debt of 1822 — we have James squander- ing £7000 of Sir Walter's from 1822 to 1826— here we have, without computing interest, about one third of the £46,000 of bills in 1826 accounted for ! and if certain entries in James's cash-jottings tell any thing, I suspect no very difficult investigation would bring out, that private debts, of which he paid the interest, and bills, which he appears to have negociated for his own purposes, came all eventually to be paid by Sir Walter, and formed a part of the above sum of £46,000.* * I believe there can be no question that nearly .£2000 was quietly rested upon Sir Walter by this very simple procedure. There is, therefore, no great difficulty in comprehending that James's personal debt, apart from that represented by Company obligations, appeared small at the time of the catastrophe. It is, however, rather puzzling to understand how the Pamphleteers, with the Company books, and James's own u Cash-jottings" before them, could venture to say that at that epoch his personal debts did not exceed £100! To be sure, he was careful enough to give his wife £250 on the very morning of the smash ! But I abstain . LETTER TO SIR ADAM FEItGUSSON. 115 Sir Walter's kindness, however, for James Ballan- tyne did not expire with the catastrophe of 182G. I gave, in the Memoirs of his Life, several proofs of the kind zeal with which he continued to the last to watch over Ballantyne's interests. The truth is, that James's family at this moment owe everything they have in the world to that zeal. It was Scott's Magnum Opus — the uniform edition of the Waverley Novels, &c. &c, which hegan in 1829, and continued for more than seven years — it was this piece of work that made them in- dependent. James Ballantyne wrote as follows on the 22d April 1829: — " Dear Sir Walter, I confess I did hope that we should be employed to print the whole of the Magnum, but Mr Cadell is now taking in estimates from other printers, and I see much reason to believe that a great part of it will be removed from me. This is taking a great liberty, Sir, but it is one which you will excuse, considering the long period of our intercourse, and that I had hoped this favourite work would have helped to render tolerable the evening of my life." Again, on the 4th September 1829, he says — " Dear Sir Walter, several months since I informed you of my belief that I had nothing to depend upon from Mr Cadell, as manager of the Magnum, in the way of being employed in that work any longer or farther than he felt compelled to employ me. I said that 1 wished nothing to be done in the way of interference then, but that when the time came, as I knew it would come, that my apprehensions were realized, I should then solicit your aid and support. Your answer was to assure me of your support when that time came. Upon my success in my appeal will de- pend whether the remainder of my life will be passed in some decent show of independence, or in a state of suffering as great as can be inflicted." These prayers were not uttered in vain ! the arm of strength and mercy was extended ! I H) LETTER TO SIR ADAM FERGUSSOX. I think there is only one part more of the Pam- phleteers' long story that I need say anything about. They seem to believe that they overturn all my state- ments about Scott and Ballantyne's pecuniary doings, by hauling up the " inductive clause" of a mutual bond of discharge entered into by these Ballantyne Trustees and Sir Walter's representatives soon after the death of Ballantyne.* This deed contains a formal renunciation of all claims against Ballantyne's estate on the part of Sir Walter's executors ; and, say these o-entlemen, " it is certainly very satisfactory to find the accuser himself a party to such a deed, embody- ing, as it does, a formal contradiction of all he has since promulgated to the disparagement of Mr Ballan- tyne. 11 I need hardly repeat, that at the time when this deed was executed I knew nothing of the details of Scott's and Ballantyne's commercial connexion ; and I shall show presently that at that time none of the legal agents employed on either side possessed any informa- tion whatever as to the real state of their pecuniary position towards each other. The Pamphleteers, how- ever, assume, that if Sir Walter's executors had had the least notion that any claim could be set up on their part against Ballantyne's estate, they would have been the last people in the world to waive such a claim ; whereas the truth is, that the very last thing we should have thought of at that moment, when we were en- gaging for the final payment of the remaining debts of James Ballantyne and Company, would certainly have been to act otherwise than in accordance with Sir Wal- ter's well-known resolution, in the cause of which he had just died, to discharge those debts by his own * Sir Walter died in October 1832 — Ballantyne in January 1833. LETTER TO SIR ADAM FERGUSSON. 117 efforts and means. In fact, Sir Walter's executors knew just as much as the child unborn about the long history which has now at last been evolved ; but had they known all that they know now, they would have acted precisely as they did in August 1833. As for myself, I really may say, that though my name was signed to the deed, I was never consulted at all about the terms of it. I have all along considered myself as Sir Walter's literary executor, and abstained, in general, from giving either advice or opinion as to any steps proposed or adopted in reference to any money matters of one sort or another. But I think you will agree with me, that when these Trustees thought of producing this deed at all, they ought to have told, and not suppressed the fact, that it was they themselves, the friends of Ballantyne, who prayed for this mutual discharge. This is proved by the letters which passed between their agent Mr Alex- ander Douglas, W. S , and the agent of Sir Walter's Trustees, Mr John Gibson junior, W. S., in July and August 1833. But it will be sufficient fur me to quote here part of a letter recently addressed to myself by Mr Isaac Bayley, who, as agent for Sir Walter's exe- cutors, drew up the deed, and having occasion to be here in London shortly afterwards, submitted it to me for my signature. Mr Bayley says : — " As you have already copies of Mr Douglas' letters, which prove that it was James Ballantyne's trustees who solicited the mutual discharge, which they attempt in their pamphlet to mag- nify into so much importance, I need say no more on that point, except that, whatever inference the public were expected to draw from the insinuation that it was you and Sir Walter Scott's other trustees who had been so anxious for this discharge, must now recoil on the heads of Mr Ballantyne's friends. " But it is due to you that I should give some explanation as 118 LETTER TO SIR ADAM FERGUSSON. to the terms of the discharge, and exonerate you from being morally responsible for its terms in any way whatever. When I had the honour of being consulted by you and the other members of Sir Walter Scott's family at Abbotsford, at the time of his death, when you had under consideration making the proposal to the creditors for payment of Sir Walter Scott's debts, I then brought the point under your consideration, how Mr James Bal- lantyne was to be affected by such arrangement? And upon that occasion, the strongly expressed wishes of yourself and the other members of the family, that the discharge from the creditors should include Mr Ballantyne, and that every thing should be carried through in the kindest manner towards him — and when you then repudiated any idea of asking him to assist in the pay- ment of the remaining debts, or of entering into any consideration whether he was debtor to Sir Walter Scott or not, I considered the feeling then so strongly expressed as warranting me, in any communication which I might have with Mr Ballantyne or his family, to act for you in the most liberal manner towards him and them. When, therefore, I was applied to, to recommend the granting of the mutual discharge, I had no hesitation in at once giving an assurance that this would be acceded to, although in the first instance I felt myself bound in point of form to consult you and Sir Walter's other trustees. Having done so, I then prepared the discharge. But I may remark in passing, that entirely igno- rant as I was of the relative position of Sir Walter Scott and Mr Ballantyne to each other as regarded accounts, I applied to Mr Gibson, the acting trustee for the creditors of the Company, to know whether any account had ever been made up as between them, or whether he could inform me how they relatively stood ; and I am free to say, that if I had found that a debt had been ascertained as due by Sir Walter Scott to Mr Ballantyne, I should not have hesi- tated in bringing that fact before you, and recommending that it should be provided for: but Mr Gibson informed me, that no such account as I refer to had been made up ; that he had suggested the attempting of it when the affairs came into his hands, but that both Sir Walter and Mr Ballantyne had dissuaded any such at- tempt ; and he has told me since, Sir Walter made use of the words that such an attempt * would only be throwing good money after bad. 1 He also informed me, what I have since been satisfied was correct, that the books afforded no materials for making up such an account. I therefore prepared the discharge ; and when LETTER TO SIR ADAM FERGUSSON. 119 I inserted the clause, that both sets of trustees were satisfied that each of their constituents had contributed to the payment of the debts in a fair proportion, and that they were satisfied that neither had any claim of relief the one against the other, I was certainly influenced more by the desire to do the handsome thing to Mr Ballantyne's family, than by any precise information how matters stood. Perhaps I ought to have inserted, what was really the fact, that neither party knew how the accounts stood ; but I must say, I think Mr Ballantyne's trustees were the last parties, know- ing as they did the handsome manner with which their desire for a discharge had been met, to rear up the terms of this discharge against you. " But the inductive clause for granting the deed was, in one sense, of little importance; and when you had agreed to grant the deed, it would have been most ungracious, even had your feelings not been known to me, had I proposed an inductive clause which would have stamped ignorance upon all parties con- cerned. But whatever the terms of the deed are, I alone am re- ponsible for them, and on my responsibility alone was the deed signed by you and your co-trustees. I was present when you put your name to it, and I am satisfied you never read a word of it." Mr Bayley adds, after discussing a different matter, this paragraph, upon which I need offer no comment : — " The Pamphleteers withhold one important fact from the pub- lic — the advantage reaped by James Ballantyne from the settle- ment you and your co-trustees effected with his creditors. Had you not done this, is it not plain that Mr Ballantyne at his death must have been an undischarged bankrupt, and must have left his family beggars, in place of in the comfortable circumstances which he was enabled to do? But gratitude forms no part of the creed of the authors of the Pamphlet." Upon the whole, the opinion I had expressed about these Ballantynes is not improved by the new scrutiny which their dear friends have forced upon me. Birds of evil omen they both were to Sir Walter — the only doubt is which the worst — the Raven or the Magpie. Undoubt- edly, the graver brother comes out a shade or two worse than he stood before. I am sorry for it. With all his 120 LETTER TO SIR ADAM FERGUSSON. faults, I am still disposed to think charitably of James. He requires tender dealing when we look closely at some things ; but we must remember the ancient saying, that it is very difficult for an empty sack to stand erect. The faults of idleness and mismanagement as a commercial man, formerly alleged, had also, I thought, been for- merly proved : at all events, they have now been so : and I adhere to every representation I gave of minor follies and absurdities, with increased wonder that one of the simplest, as well as greatest of our race, should have continued, during so many years, to tolerate the hideous blunders and negligencies of a person whose style of manners presented such a contrast to his own. As for "Jocund Johnny" — " liein' Johnny" — he is pretty nearly in statu quo, — except that they now have him produced in his original capacity, and that I have got a key to a query which Scott appended to several of his letters, namely, " Since it takes nine tailors to make a man, how many ought it to take to ruin one ?" They abuse me for producing only a bit of doggerel for proof that Scott used to call him his little Picaroon. I respect- fully refer them to a letter in prose to Mr Daniel Terry, dated 2d July 1813, and printed in the life of Sir Walter, vol. iii. p. 64, where the same epithet is applied to the spark; and I dare say, if they supplicate our fair friend of Tulse Hill, she will supply them with as many more instances as their appetite requires. The vindicators of these heroes are in number, it appears, six. I acquit one of all blame, and some others of much. Different members of the junto have obviously furnished different parts of the " unanswer- able refutation, 1 ' " the overwhelming exposure," " the triumphant appeal," (vide Morning Chronicle, Literary Gazette, &c. Sec ); but some one put the bits together, LETTER TO SIR ADAM FERGUSSON. 12 i and the selection of him for sucli a job was not happy. The hand that is to dovetail mosaic should be nimble ; but it should also be clean. Wherever a grain of dirt has crept in, there will, after a little experience of northern weather, be a patent flaw. Dear Sir Adam, the pamphlet winds up with a long- ish extract from the Quarterly Review, and the classical ejaculation — " Quam temere in nosmet legem saneimus iniquamf The article they quote is one on the life of Mackin- tosh, the writer of which was of opinion that Sir James's biographer had given him rather more importance in the array of our modern Whigs, philosophers, legisla- tors, and orators, than was quite his due; — whereupon this writer, watching carefully, as a Quarterly Reviewer ought to do, over the fair name of Whigs in general, complains and remonstrates ; but adds, with commend- able candour, that such misrepresentations are rarely avoided in any contemporary biography — a species of composition whereof he says, " the very best specimen" may turn out to be "a picture, of which the principal figure has been considerably flattered, and everything else" (for they put this in capitals) " sacrificed to its prominence and effect." The hexameter is a hack- neyed one — but they do not understand it. — As Swift says — " I laugh to hear an idiot quote A line from Horace learned by rote." — They attack the temerity indeed of the supposed law breaker, but their argument assumes the equity, in place of the iniquity, of the law alleged to be broken. But this is a trifle; their drift is as evident as their blun- der. You must fancy, I presume, that the implied charge 1"22 LETTER TO SIR ADAM EERGUSSON. against the biographer of Scott is, that he broke a law of his own making or sanctioning, by giving that novelist and poet undue prominence and effect, to the disparagement of Edgeworth, Austin, Gait, and Hook, — of Wordsworth, Southey, Crabbe, Campbell, Baillie, Moore, or Byron ! Not so — the accusation refers to the cases of Aldibo- rontiphoscophornio, editor of the Edinburgh Weekly Journal, who corrected the proof-sheets of the Waverley novels, and published a pamphlet, entitled " Criti- cisms upon Mrs Siddons," — and of his brother, Rig- dumfunnidos, who bequeathed to the world a novel, in three volumes, called " The Widow's Lodgings," — but displayed his inventive genius more largely and suc- cessfully in the composition of States and Calendars. I gave the author of Marmion and Old Mortality too much prominence and effect, to the grievous injury of these illustrious " contemporaries." " Corvos Poetas et poetrias Picas Cantare credas Pegaseium melos!" May I beg of you to present my best compliments to your brother the Colonel, and request him, in my name, the next time he makes a sketch of the Castle-rock, to be sure that he gives " due prominence and effect" to the two barrels of heavy-wet and twopenny, that he will see banning away on a truck-cart at the end of the Mound ; for if he does not, he will " considerably flatter" that eternal mass of granite, crowned with royal towers, and hallowed with the reverence of ages — Yours truly, J. G. LOCKHART, STEVENSON & CO. PRINTERS. THE LIFE OF SIR WALTER SCOTT NEW EDITION UNIFORM WITH THE WAVERLEY NOVELS, POETRY, AXD PROSE. Just published, price Five Shilling*, VOLUME THE FIRST OF THE LIFE OF SIR WALTER SCOTT, BY J. G. LOCK.HART, ESQ., HIS LITERARY EXECUTOR. Second Edition, Revised and Corrected. To be completed in Ten Monthly Volumes, each illustrated with a Frontispiece and Vignette Title. PRINCIPAL ILLUSTRATIONS. Portraits of SIR WALTER SCOTT: 1. When a Child. 2. After Raeburn, (18080 3. After Chantrey's Bust, (1820.) Portraits of His Ancestor BEARDIE, His FATHER AND MOTHER, His DAUGHTERS, &c. FROM PICTURES AT ABBOTSFORD. Views of SANDY-KNOWE. NORTH CASTLE STREET. ABBOTSFORD HOUSE. HALL AT ABBOTSFORD. LIBRARY. STUDY. DINING-ROOM. FACSIMILE OF HANDWRITING,— PAGE OF IVAN HOE. Vol. II. will appear on 1st May. R. CADELL, EDINBURGH; WHITTAKER & CO., LONDON. REPLY MR LOCKHART'S PAMPHLET, ENTITLED, " THE BALLANTYNE-HUMBUG HANDLED.' BY THE AUTHORS OF A REFUTATION OF THE MISTATEMENTS AND CALUM- NIES CONTAINED IN MR LOCKHART'S LIFE OF SIR WALTER SCOTT, BART., RESPECTING THE MESSRS BALLANTYNE." LONDON: LONGMAN, ORME, BROWN, GREEN, AND LONGMANS ; AND ADAM AND CHARLES BLACK, EDINBURGH. 1839- EDINBURGH: PRINTED BY BALLANTYNE AND HUGHES PAUL'S WORK, CANONGATE. NOTICE. The following pages extend to a greater length than we could have wished ; but our answer to the original mistatements in Mr Lockhart's Life of Sir Walter Scott having been followed by a long and laboured pamphlet from that gen- tleman, giving a most unfair view of the transac- tions in which Sir Walter was connected with the Messrs Ballantyne, (Mr James Ballantyne espe- cially,) and containing many calumnious asser- tions which he had not previously made — support- ed, too, by partial quotations from, and incorrect references to, a great variety of documents — it has become incumbent on us to lay before the public a complete narrative of the circumstances in question, accompanied by a body of evidence IV NOTICE. which will admit neither of misrepresentation nor misconstruction. If Mr Lockhart thought it necessary to give an account of those occurrences of Sir Walter Scott's private life, into which it was impossible to enter without exposing the weak parts of the character of an illustrious man, he ought to have done so without attempting to extenuate his errors by blackening the reputation of others, who (how- ever humble in comparison) have many relatives and friends to whom their good name is as dear as even that of Sir Walter Scott can be to those whom he has left behind him ; and, although the friends of the Messrs Ballantyne cannot expect that general interest in their concerns which must be attached to those of so great a man, yet they rely on that sense of justice, on the part of the public, which will not permit the fair fame of one man to be sacrificed to that of another, however unequal they may be in rank or distinction. ERRATA. Page 70, line 10 from top, for Mr Gibson, read Mrs Gibson. Page 7G, line 4 from bottom, for .£13,000, read £3000. REPLY, &c. It is with the utmost pain and reluctance that we feel ourselves compelled to go a second time before the public ; but the pamphlet recently published by Mr Lockhart, has rendered it absolutely necessary for us to do so. The title of this production is extremely charac- teristic of its style and spirit, and prepares the reader for the abusive and insulting language with which it is filled. B*4 as it is, however, we are aware that it does notcontain a tithe of the scurrility which it originally pos- sessed when it dropt from the pen of its author ; and we have no doubt that we are indebted for the pruning it received, to the good-humoured counsel by whom the proof-sheets were revised. It seems equally probable, we think, that Mr Lockhart has to thank the same gentle- man's good taste that his book is not polluted with the grossly obscene quotation from Juvenal which was pre- fixed to the advertisement announcing the intended pub- lication. But be this as it may, we should have cared little for Mr Lockhart's invectives and sarcasm, had it not been for the scandalous lengths to which he has carried his misrepresentations of all those circumstances in the con- nexion between Sir Walter Scott and the Messrs Bal- lantyne, his unfair statements of which, in his biogra- phy of Scott, induced us to make our former appeal to the public. All his previous injurious statements are now repeated and aggravated ; new calumnies are brought A 2 NATURE OF THE ATTACK. forward; and the whole supported by a perversion of fact and a distortion of evidence, which, to say the least of them, are but rarely resorted to by persons holding Mr Lockhart's station in society. The incredibility, indeed, that he should have resorted to such means, must neces- sarily have in some degree furthered his object ; for, when a man holding a certain rank in society makes pointed assertions, and supports them by the evidence of extracts, quotations, and references to documents, few will be disposed to believe that the assertions are untrue, and the evidence garbled. In laying such conduct to the charge of a gentleman, we are fully aware of the disad- vantage of our position, and the difficulty we have to encounter. But this consideration yields to our sense of the justice of our cause, and of the duty we owe to the memory of those whose characters have been so cruelly and wantonly aspersed. We pretend not to any dexterity in the use of those sarcastic weapons, of which long practice has rendered Mr Lockhart a master. We shall attempt neither joke nor sneer, banter nor irony. To give a plain and simple statement of facts and evidence is our only ob- ject ; and, in doing so, we have no doubt of obtain- ing from the candour of the public a fair and impartial hearing. It is unnecessary to dwell on Mr Lockhart's attempts to throw ridicule on the family of the Messrs Ballan- tyne. It was by no means aristocratic, certainly ; but neither do we believe that Mr Lockhart himself has any reason to be vain on that score. Their father was a respectable shopkeeper in Kelso ; and John Ballan- tyne, for a few years in the earlier part of his life, car- ried on a similar business in the same place. Mr Lock- hart's assertion in the Life, that " his goods were sold off by auction for the benefit of his creditors," is utterly MR LOCKHART S INFERENCES. 3 groundless ; and Mr Lockhart now admits this to be the case, saying that he "inferred " from John's language about his goods and furniture with difficulty paying his debts, that the goods, &c., " were disposed of by auc- tion." Such, in the very outset, is Mr Lockhart's scrupulousness about his facts. This gentleman has now discovered a new fact in John Ballantyne's his- tory. He was, it seems, a tailor ; " and," says Mr Lockhart, in his characteristic style, " I have been told that Rigdum was considered as rather an expert snip among the Brummels and D'Orsays of Kelso." This, too, is a downright untruth ; and, like the other, may be the result of some of Mr Lockhart's in- ferences. Mr Lockhart adds, " The pamphleteers may or may not be right in contradicting me upon these par- ticulars — but of what consequence are they?" Why, then, did he state them ? In that case, even if they had been correct, his only motive could have been the desire of wantonly inflicting pain. It was certainly of no consequence to him to state them ; but since they have been stated, and falsely stated, it is of consequence to give them a pointed contradiction, and to defy their author to establish a tittle of them. Mr John Ballan- tyne carried on business in Kelso for ten years, from 1795 to the end of 1805 ; and his credit and respect- ability in that situation, were never impeached till Mr Lockhart thought proper to do so. James Ballantyne had, in the mean time, established himself as a printer in Edinburgh, and had entered into the partnership with Sir Walter (then Mr) Scott : And some time after that company had been formed, and when its business was rapidly increasing, John Ballantyne, at the express request of his brother, removed to Edinburgh, and entered into the employment of the company, at a salary of £200 a-year. Mr Lockhart says, that at this time, " John 4 SITUATION OF JAMES. appeared in destitute plight in the Canongate." This, we presume, is another of Mr Lockhart's inferences; certainly it is not a fact. It was natural for John Bal- lantyne to desire an opening in the metropolis, in the employment of his brother's large concern ; but, on closing his business in Kelso, he was able, by means of his stock and property, to discharge every debt that he Lad in the world ; — a clear proof that the profits of that business, if they did not enable him to accumulate money, had been sufficient, for a number of years, to afford him a respectable maintenance. For the truth of this statement there are to this day many persons in Kelso, of high respectability, both able and willing to vouch.* Leaving these matters, however — which, as Mr Lockhart himself admits, are of no consequence in re- ference to the Life of Sir Walter Scott, though they illustrate the spirit in which that Life is written in as far as the Ballantynes are concerned — we shall proceed to the commencement of Scott's connexion with James Ballantyne in his business of a printer. And here it is necessary, in the first place, to observe what was James's situation in life when that connexion took place. Scott and James Ballantyne were schoolfellows ; and their boyish intimacy was the foundation of an inter- course which was dissolved only by death. Ballantyne was educated with a view to the law ; and, after the usual course of study for that profession, settled as a solicitor in Kelso, in 1795. At that early age (about five-and-twenty) his abilities had attracted notice ; for, as we are correctly informed by Mr Lockhart him- self, f " he willingly listened, in the summer of 1796, * John Ballantyne (as the reader will afterwards see) was able to lend his brother James <£300 when he commenced business in Edinburgh, t Life, vol. i. p. 249. KELSO MAIL. to a proposal of some of the neighbouring- nobility and gentry, respecting the establishment of a weekly news- paper, in opposition to one of a democratic tendency then widely circulated in Roxburghshire and the other border counties." He accordingly established the Kelso Mail, and conducted it with so much spirit and talent, that it immediately gained distinction, and in a short time obtained almost exclusive circulation as a local newspaper, in a very extensive district of country. In 1799, Ballantyne, on the suggestion of Scott, when they happened to meet in Edinburgh, made his first essay as a book printer, by printing a few copies of Scott's early ballads (William and Helen, &c.) for private circulation. " This first specimen," says Mr Lockhart, " of a press afterwards so celebrated, pleased Scott ;" and the consequence was, that he employed Ballantyne to print his first important work, The Min- strelsy of the Scottish Border. In the mean time, Scott earnestly advised his friend to settle in Edinburgh. In a letter, dated April 1800,* he gives Ballantyne his views on this subject; and, though we willingly agree with Mr Lockhart in thinking that these views were " primarily suggested by the friendly interest he took in Ballantyne's fortunes," yet there are equally good grounds for Mr Lockhart's suspicion, " that, even thus early, the writer contemplated the possibility, at least, of being himself very intimately connected with the result of these air-drawn schemes." The Minstrelsy (Volumes I. and II.) appeared in January 1802. "The edition," says Scott himself, f "was curious, as being the first example of a work printed by my friend and schoolfellow, Mr James Ballantyne, who at that period was editor of a provincial paper. When the book came out, the imprint, Kelso, was read with won- * Life, vol. i. p. 319. f P. 342. 6 MINSTRELSY OF THE SCOTTISH BORDER. der by amateurs of typography, who had never heard of such a place, and were astonished at the example of handsome printing' which so obscure a town had pro- duced." Such was the foundation of the high reputa- tion which was speedily acquired by " the Ballantyne press." From the following passage in a letter from Ballantyne to Scott, in March 1802,* it appears that the printer was hesitating as to some renewed sugges- tions from his friend regarding his removal to Edinburgh; and that he was in the mean time exerting himself to follow up the advantage he had gained. " Your query respecting Edinburgh I am yet at a loss to answer. To say truth, the expenses I have incurred in my resolution to acquire a character for elegant printing, whatever might be the result, cramp considerably my present exertions. A short time, I trust, will make me easier, and I shall then contemplate the road before me with a steady eye." In the end of the same year, James Ballantyne adopted the views of his friend, and removed to Edin- burgh. To facilitate his operations, Scott accommo- dated him with a loan of £500. " Of course," says Mr Lockhart, " Scott's interest was constantly exerted in procuring employment, both legal and literary, for his friend's types, and the concern grew and prospered." In April 1803, the third volume of the Minstrelsy was published. Scott writes to Ballantyne, " I have to thank you for the accuracy with which the Minstrelsy is thrown off. Longman and llees are delighted with the printing." The consequence of such approbation was, of course, an influx of employment from these and other publishers, which enabled Ballantyne gradually to extend his business, and increase the value of his stock in trade. * Life, vol. i. p. 348. REMOVAL TO EDINBURGH. 7 Such was the situation of James Ballantyne's business when Scott joined it as a partner. This transaction took place at Whitsunday 1805. Mr Lockhart himself ad- mits his "suspicion" that Scott had long harboured this design — so early, indeed, as the date of Ballantyne's projected removal from Kelso to Edinburgh ; and Mr Lockhart adds, as a further motive, that there was " little doubt that the hope of succeeding at the bar had waxed very faint, before the third volume of the Min- strelsy was brought out in 1803." At the same time, Scott, to use his own words, was determined that litera- ture should be his staff, but not his crutch, and that the profits of his literary labour should not, if he could help it, become necessary to his ordinary expenses.* Thus, despairing of success in his profession, and determined not to depend upon literature, the remaining resource was trade ; and hence it was that he became first a printer, and afterwards also a publisher. The follow- ing passage of Mr Lockhart's work, f written, it would appear, before he had thought it necessary to sacrifice James Ballantyne's character, gives a just account of Scott's views and motives upon this occasion. " The forming of this commercial connexion was one of the most important steps in Scott's life. He con- tinued bound by it during twenty years, and its influence on his literary exertions and his worldly fortunes was productive of much good and not a little evil. Its effects were in truth so mixed and balanced during the vicissi- tudes of a long and vigorous career, that I at this moment doubt whether it ought, on the whole, to be considered with more of satisfaction or regret. " With what zeal he proceeded in advancing the views of the new copartnership his correspondence bears * Life, vol. ii. p. 40. f Vol. ii. p. 41. 8 CONNEXION WITH SCOTT. ample evidence. The brilliant and captivating genius, now acknowledged universally, was soon discovered by the leading booksellers of the time to be united with such abundance of matured information in many depart- ments, and, above all, with such indefatigable habits, as to mark him out for the most valuable workman they could engage for the furtherance of their schemes. He had, long before this, cast a shrewd and penetrating eye over the field of literary enterprise, and developed in his own mind the outlines of many extensive plans, which ivanted nothing hut the command of a sufficient body of able subalterns to be carried into execution with splendid success. Such of these as he grappled with in his own person were, with rare exceptions, carried to a trium- phant conclusion ; but the alliance with Ballantyne soon infected him with the proverbial rashness of mere mercan- tile adventure, while, at the same time, his generous feelings for other men of letters, and his characteristic propensity to overrate their talents, combined to hurry him and his friends into a multitude of arrangements, the results of which were often extremely embarrassing, and ultimately, in the aggregate, all but disastrous. It is an old saying, that wherever there is a secret there must be something wrong ; and dearly did he pay the penalty for the mystery in which he had chosen to involve this transaction. It was his rule from the beginning, that whatever he wrote or edited must be printed at that press; and, had he catered for it only as author or sole editor, all had been well ; but had the booksellers known his direct pecuniary interest in keeping up and extending the operation of those types, they would have taken into account his lively imagination and sanguine temperament, as well as his taste and judgment, and considered, far more deliberately than they too often did, his multifa- rious recommendations of new literary schemes, coupled CONNEXION WITH SCOTT. 9 though these were with some dim understanding-, that, if the Ballantyne press were employed, his own literary- skill would be at his friend's disposal for the general superintendence of the undertaking. On the other hand, Scott's suggestions were in many cases, perhaps in the majority of them, conveyed through Ballantyne, whose habitual deference to his opinion induced him to advo- cate them with enthusiastic zeal ; and the printer, who had thus pledged his personal authority for the merits of the proposed scheme, must have felt himself committed to the bookseller, and could hardly refuse with decency to take a certain share of the pecuniary risk, by allow- ing the time and method of his own payment to be regulated according to the employer's convenience. Hence, by degrees, icasivoven a web of entanglement, from which neither Ballantyne nor his adviser had any means of escape, except only in that indomitable spirit, the mainspring of personal industry altogether unparalleled, to which, thus set in motion, the world owes its most gigantic monument of literary genius." With his head full of such schemes and speculations, Scott entered into a regular partnership with James Ballantyne, commencing at Whitsunday 1805. Mr Lockhart goes into a detail of the pecuniary affairs and transactions of this Company from the above period till Martinmas 1809, professedly taken from a series of balance-sheets, found, of course, amongst Sir Walter's papers ; and exhibits a view of delinquency on the one hand, and gullibility on the other, so extravagant as actually to transcend belief, even in the absence of evi- dence to the contrary. According to Mr Lockhart, Ballantyne's capital invested in the concern was mere moonshine, whilst Scott's consisted of solid cash. Bal- lantyne's profits, the first year, amounted to £786 : 10:3, and his drafts for that period to £2378 : 4 : 9 ; whilst 10 IMMEDIATE 11ESULTS. Scott's profits for the same period were £393: 5:1, and his drafts £100. " In short," Mr Lockhart ex- claims, " the 'all-engrossing' Scott, being entitled to about £400, drew from the concern £100; and the hapless victim James Ballantyne, having a right to less than £800, took £2300. Thus far," continues Mr Lockhart, " no question Scott had a fine prospect of realizing the * private objects ' which induced him to lure the unsuspicious printer from Kelso to Edin- burgh." Mr Lockhart continues his analysis of the balance- sheets ; and the next stage in his conclusions at which he arrives is, that — " On the whole, between Whitsun- day 1805 and Martinmas 1807, it appears that Scott's drafts on the business came to £306 : 4 : 3. James Ballantyne's to £3906 : 4 : 1 ! ! !" Well might Mr Lockhart affix his three notes of admi- ration to this statement. The balance-sheets from which he draws this astounding conclusion were regularly signed by both the partners, in token of examination and ap- proval ; and can it be credited that any man in his senses, in Scott's situation, even supposing him to have been ever so much of a sleeping partner, (and any body who reads Mr Lockhart's own account of his manner of doing busi- ness will be amply satisfied that he Mas the very re- verse,) with such documents year after year staring him in the face, would have shut his eyes to, or acquiesced in, such a course of barefaced plunder ? Mr Lockhart, like many other injudicious advocates, spoils his case by overstating it. But this is not all. Mr Lockhart travels another stage, and comes to the conclusion that, for the whole period which is embraced by his analysis — that is, from Whitsunday 1805 to Martinmas 1809, (omitting one half-year, one of the half-yearly accounts, Mr Lockhart VALUATION OF MR BALLANTYNE'S STOCK IN TRADE. 11 says, being wanting,)—" Mr James Ballantyne's profits are recorded as £3930 9 10 His personal drafts, - - 5963 12 3 Mr Scott's profits as - - 19G8 4 11 His drafts as ~ - - 1391 2 3 " Thus," he continues, " while Scott left undrawn of his share of the profits the sum of £577 : 2 : 8, the care- ful and prudent tradesman, James, had overdrawn his share by no less than £2027 : 2 : 5. So far as to the drafts of the partners." Now, it so happens that we, as well as Mr Lockhart, are in possession of these same balance-sheets, which were drawn out in duplicate, according to commercial usage. We have them before us, regularly signed by Walter Scott and James Ballantyne ; and, that no room may be afforded for cavil or dispute on the ground of mis- quotation, we print them entire in the Appendix.* They are contained in a volume which was not discovered till after the publication of Mr Lockhart's pamphlet. This volume contains, in the first place, a " Valuation of James Ballantyne's Stock in Trade on 14th March 1805." Our readers will see that this stock, consisting of types, presses, and printing materials of all kinds, with the property of the printing-office, amounted in value to £2090. This was the capital invested by Bal- lantyne in the new copartnership. Then there is the " Stock advanced by Walter Scott, as at 15th May 1805." This consists of James Ballan- tyne's promissory-note to Scott for the previous loan of £500, amounting, with interest, to - £508 And cash advanced by Scott, - - 1500 £2008 " Next, there is an " Account of the Work in hand exe- * Appendix, No. I. 12 OTHER ACCOUNTS, cuted in the Office previous to 2Gth May 1805, (the commencement of the partnership,) the value of which is Mr Ballantyne's exclusive property, and to be con- sidered as such in settling' accounts with the various persons debtors for the works in hand." Then follow the "private personal accounts" of each of the partners with the copartnership, regularly balanced and signed, as we have already mentioned. In opening these accounts, each partner is credited with his share of capital stock and property belonging to him brought into the concern ; and he is afterwards credited half- yearly with his share of the profits, and any thing else which became due to him from the company; whilst, on the other hand, he is debited with all sums drawn by him from the company during the corresponding period. The profits were divided in the proportions of two-thirds to Mr Ballantyne, and one-third to Mr Scott. This being premised, let our readers turn to the " private, or personal account of James Ballantyne with the copartnery." * Mr Ballantyne, as we have al- ready seen, brought into the company, as his share of capital stock, the whole stock in trade previously belong- ing to him, amounting, according to the valuation there- of, to £-2090. The outstanding debts to Mr Ballan- tyne by his employers prior to the commencement of the company, continued, of course, to belong to him ; but, according to the common practice in similar cases, these debts were carried into the books of the new con- cern, for the convenience of collection. We may ex- plain to our non-commercial readers, that debts thus belonging to a partner are placed to his credit in his personal account with the company, whilst an account is opened for each of the debtors in the books of the company, in which he is debited with the amount due * Appendix, No. I. OTHER ACCOUNTS. 13 by him to the partner. Thus the customers of the old concern have their accounts continued without interrup- tion as customers to the new ; and payments made by any of them, whether on account of his debt to the old concern or the new, are all equally entered to his credit in his account in the company's books. Should any of these outstanding debts, originally placed to the credit of the partner in his private account, eventually turn out bad, the amount of the sum thus lost is placed to the debit of the partner in his private account; thus placing it in the same situation as if it had never been carried into the company books at all. Now, the outstanding debts due to James Ballan- tyne at the commencement of the copartnership, and thus placed to his credit in opening his private account with the company, amounted to £1604 : 16 : 11. These two sums, viz., £2090 as his share of capital stock, and £1604 : 16 : 11 of outstanding debts belonging to him, were, accordingly, the articles placed to his credit at the commencement of his account in May 1805. At the end of six months (in November,) two third shares of the profits for that period are placed to his credit, being £366 : 14 : 11 ; and also a sum of£63, 13s., being cash received by the company from several publishers for correc- tions, &c, on works in handprior to the copartnership, and which, consequently, belonged to him individually. These articles, placed to James Ballantyne's credit before balancing the first half-year's account, amount to £4125 4 10 On the other hand, he is debited with " Cash drawn on his own account," during the same period, - - 1193 6 Leaving "Balance carried over, being ~| the total of Mr Ballantyne's capital J- £2932 4 4 at Martinmas 1805," - - J 14 FIRST CHARGE AGAINST This first half-year's account affords Mr Lockhart his first article of charge against James Baliantyne. " For the hero of such a tale," he says, " it must be allowed James starts well. During the first six months of the concern, his profits, according to his own accounts, were £366 : 14 : 11. His monied drafts were, according to the same documents, for the same period, £1193:0:6." Very- true ; but Mr Lockhart carefully keeps out of view, that, independently of the six months' profits, Mr Baliantyne was also credited with £1604, as outstanding debts, to be received by the company from the debtors, and ac- counted for to him. These debts being collected by the company, formed a fund in the company's hands belonging to him, and at his disposal. They were entered to his credit, totally distinct from the £2090 which formed his share of capital stock ; and he was entitled, consequently, to draw these debts as they came in, without infringing on the capital stock. The sup- pression of these very important facts by Mr Lockhart, who had the very account ice have referred to before him, requires no commentary. But, admitting that this fund was Mr Ballantyne's own, and at his disposal, still it may be said it was wrong to draw out so large a sum, in so short a time, on account (as Mr Lockhart says it was) of his own per- sonal expenditure, M he being then a bachelor." This might certainly have been termed extravagance ; but it did not suit Mr Lockhart to remember, that if Mr Baliantyne was entitled to the outstanding debts of the printing-office prior to Whitsunday 1805, he was also liable for its outstanding engagements, and also, no doubt, for some personal debts ; and that he must have applied in liquidation of these debts and engagements the funds belonging to himself, received and paid over to him by the copartnership. This, which must have been the case, is indeed shown to have been so by Mr JAMES BALLANTYNE. 10 Lockhart himself, who says, (Pamphlet, p. 17,) that Ballantyne's very first drafts from the company were for an acceptance at Kelso, £200, and advances to his father, £270 : 19 : 5. Thus we see, that out of the £1193 : : 6, £470 at least were not on account of his personal expenditure. The £200 was obviously one of the debts we have been speaking of; and who will deny his right, out of his own funds, to make advances to his father ? That such, moreover, was the application of these drafts from the company, is made apparent from the fact that it was only at first, as we shall presently see, that Mr Ballantyne's annual drafts exceeded his annual profits. When he had drawn from the copartnership the previous outstanding debts belonging to himself, and applied these in clearing his own previous engagements, his subsequent annual drafts were limited by the amount of his annual profits. We proceed with our examina- tion of his " personal account," which, after the expla- nations already given, will require little detail. In the half-year from November 1805 to May 1806, James Ballantyne is credited with £500, which he had received in loan from Mr Creech, and advanced to the company as an increase to his capital stock of the con- cern ; and also for £419 : 15 : 4, as his share of the half-yearly profits. On the other hand, he is debited with £1155 : 4 : 3, as cash drawn on his own account from the company ; the excess of drafts for this period over the actual profits being, of course, accounted for in the same manner as for the preceding half year. They were obviously in further account of the £1604 of out- standing debts, and applied in paying off such of the outstanding claims of the late concern as had not been already discharged. The debts would, as is usual, be got in by degrees, and a year does not seem an unreasonably long period for winding up a business of this nature. 16 PARTICULARS. In the next half-year, from May to November 1806, of which it does not suit Mr Lockhart's purpose to give the particulars, Mr Ballantyne is credited with a further advance of £100, borrowed by him from Mrs Bruce, and applied towards his capital stock, and also with sun- dry articles, " the property of J. B. at Whitsunday 1805, not carried to his credit in the balance due to him then made, since brought into the stock of the company." These, the particulars of which will be seen in the account as printed in the Appendix, consist of three several sums, £106, 16s., £119: 13: 10,and £59 :11:11, amounting in all to - £286 1 9 And his half-year's share of profits, - 486 2 £772 3 9 On the other hand, he is debited, on ac- count of his drafts, with only - £428 19 2 Leaving undrawn, £343 4 7 In the half-year from November 1806 to May 1807, he is credited with some small sums received on his account by the company, amounting to £21, 13s., with two sums of £100 and £300, borrowed by him from Mrs Bruce, and advanced to the company, and with his half-yearly share of profits, being £474 : 9 : 7. On the other hand, he is debited, on account of his drafts from the company, with only £387: 10 : S; to which, however, would fall to be added the proportion of John Ballantyne's salary, as mentioned by Mr Lock- hart. From May to November 1807, he is credited with a further advance to the company, obtained by him on loan from Mrs Bruce, £300 ; and his share of profits, £538 : 8 : 2 ; and he is debited, on account of his drafts, with £771 : 9 : 6, and £133 : 6 : 8, as his share (two-thirds) of his brother John's salary. UNFAIRNESS OF MR LOCKHART's REPRESENTATIONS. 17 From November 1807 to May 1808, he is credited with share of profits, £016:13:8, and debited with drafts £400. From May to November 1808 he is credited with £600, borrowed by him from his brother Alexander, and advanced to the company, and with his share of profits, £502 : 17 : 4 ; and he is debited with his drafts, £546 : 1 1 : 7, and with his share of his brother John's salary, £133 : 6 : 8. Lastly, in the year from November 1808 to No- vember 1809, he is credited with his share of profits, £1100:3:4; and he is debited with his drafts, £1150: 16 : 7, and also with £300, drawn by him to repay a debt due by himself to his brother John. On the 25th of November 1809, the amount of capi- tal belonging to him, and standing at his credit, was £3841 : 3 : 5. Of this capital, £1900 consisted of cash advanced by him subsequent to the commencement of the company, by means of loans which he had ob- tained as an individual, and for which he was personally responsible. The gross unfairness of Mr Lockhart's representation is thus apparent. Suppressing all mention of the out- standing debts due to Mr Ballantyne at the commence- ment of the copartnership, and carried into the company's books, in order to be collected and accounted for to him, Mr Lockhart assumes that he was entitled to credit for nothing but his share of profits, and that these pro- fits were all that he was entitled to draw for. Mr Lock- hart, accordingly, after stating the profits at £393 6 : 9: 10, and the drafts at £5963 : 12 : 3, exclaims triumphantly, that " the careful and prudent tradesman, James, had overdrawn his share by no less than £2027 : 2 : 5." In order to remove every vestige of obscurity or mis- understanding on this point, we give the following ab- 18 ABSTRACT SHOWING THIS. stract of what Mr Ballantyne was entitled to draw, and actually did draw, during the period in question. It exhibits a very different result from that of the partial and garbled statement of Mr Lockhart. Mr James Ballantyne's Profits. From Whits. 1805 to Whits. 1806, . « 1806 « 1807, . From Whits. 1807 to Whits. 1808, . « « 1808 to Marts. 1808 (half year), « Marts. 1808 to " 1809, « Outstanding debts, due him at commencement of copartnery £1604 16 11 Cash received for corrections, &c, due him then, . . 63 13 Value of paper, books, &c, be- longing to him, and after- wards placed to his credit, 307 14; 9 £786 10 3 960 11 7 1155 1 10 502 17 4 1100 3 4 1976 4 8 At his credit, £6481 9 Drafts by him. From Whit. 1805 to Whit. 1806, £237£ « 1806 « 1807, « « 1807 " 1808, " " 1808 to Mart. 1808, (half year) « Mart. 1808 to Mart. 1809, (including £300 to pay debt to John Ballantyne,) His share of John Ballantyne's Salary for two years, 816 1171 546 i: 1450 16 266 13 4 — 6630 5 7 Excess of Drafts, £148 10 Instead of £2027 : 2 : 5, as stated by Mr Lockhart. ABSTRACT SHOWING THIS. 19 Let us now take the " private or personal account between Mr Scott and the copartnery ;" Mr Loekhart's account of which, also, is materially inaccurate. He says that, during the period from Whitsunday 1805 to Martinmas 1809, (omitting- a half year for which he had not the account before him,) Mr Scott's share of profits was 1968 : 4 t 11, and his drafts were £1391 : 2 : 3; so that he left undrawn of his share of the profits the sum of 57 7 : 2 : 8. The following cor- rect statement, however, of Mr Scott's profits and drafts for the whole period, gives a very different result. Mr Scott's Profits. From Whits. 1805 to Whits. 1806, . « 1S06 « 1807, . " " 1807 « 1808, . For half year to Marts. 1808, . From Marts. 1808 to Marts. 1601, . £391 5 1 480 5 10 577 11 251 8 8 550 1 8 £2250 12 3 Year to Whits. 1806, . « 1807, . 1808, . Half year to Marts. 1808, Year to Marts. 1809, . Drafts by him. £100 150 487 12 368 5 724 18 Add his share of John Ballan- tyne's salary for two years, . £1830 16 2 133 6 8 1964 2 10 Leaving only £286 9 5 Mr Lockhart gives the particulars for the first two years only, being the periods most favourable for his own view; but it will be observed, that Mr Scott's 20 RATIFICATION OF THE PARTIES. drafts after that period increased yearly, and in 1809 were upwards of £'200 above his share of profits. Besides the above sums, however, periodically placed to Mr Scott's credit as his one-third share of the profits of the business, he also receives credit for various other sums, of which Mr Lockhart takes no notice, but which require particular attention. It will be observed that the series of balanced ac- counts, which we have now been considering, is brought down to Martinmas 1809. At that period it appeared, that on the one hand, from the amount of stock brought into the copartnership, and advances made to it by each partner since its commencement, and the amount of profits accruing to them ; and, on the other hand, from the amount of money drawn out by or on account of each partner, the balances in their favour respectively had come to be equal ; the balance in favour of Mr Scott being £3842: 9:8, and that in favour of Mr Ballantyne being £3841 : 3: 5, and these balances being the amount of capital belonging to each invested in the concern. In these circumstances, the following minute was sub- joined to each of the accounts balanced at Martinmas 1809, and subscribed by the partners : — " At a meeting of the parties, held 13th December, 1809, these accounts having been examined, and the balance thereon accruing to each partner found equal ; it was determined that the accounts should be closed, and their amounts, forming together the sum of £7684, considered as the permanent capital stock of the com- pany, invested in buildings and materials, whereof each partner possesses one-half. It was further determined that the divisible profit on the trade should be, and re- main until altered in another written minute in this book signed by both parties, £1350 annually; whereof £900, being two-thirds, should be paid to James Ballantyne, and £450, beingone-third, to Walter Scott, Esquire; and RATIFICATION OF THE PARTIES. 21 that the further balance of profit arising on the trade should remain for the discharge of additions to stock made with- in the current year in the first place, and thereafter to accumulate towards the permanent capital stock. (Signed) "Walter Scott, " James Ballantyne." Thus this series of " private or personal accounts" of each of the partners with the company, was closed. The stock of each partner being equalized, it was only necessary thenceforth that, on the annual balance, each partner should receive his share of the divisible profit of £1350 ; and that the remainder of the profits of the year should remain in the hands of the company, to be applied in making additions to stock, and accumulated towards the permanent capital. This arrangement, of course, put an end to these personal accounts between the partners and the company. We have seen that, in the formation of the partner- ship, the amount of stock brought by each partner into the concern, was equal, or nearly so. James Ballantyne's stock consisted of articles of property of the value of £2090. Mr Scott's consisted of £1500 of cash actually advanced, and of a promissory-note to him by James Ballantyne for £500 ; the sum which, as already men- tioned, he had previously lent Ballantyne to assist him when he removed to Edinburgh. It also appears, that during the period embraced by the above accounts, the amount of stock belonging to each partner was kept nearly equal, till at last it was completely equalized, and permanently fixed by the minute of December 1809. Neither party having any excess of capital be- yond the other in the company's hands, neither party could draw from the company any interest on capital. But as Mr Ballantyne's contributions to the capital of the company, subsequent to its commencement, were 22 scott's own view. made by means of loans to him from his private friends, for which he himself was responsible, it belonged also to him individually to pay those friends the interest on their loans, as well as the interest on the £500 originally lent by Mr Scott. Hence no interest on advances made by the partners, on account of their shares of capital stock, appears on the partners' accounts with the com- pany. But it will be observed in Mr Scott's account, large sums of interest are placed to his credit on ad- vances made by him. The nature of these advances must now be enquired into. With a view to this, we shall insert the following letter from Mr Scott to John Ballantyne, dated the 31st of November 1807.* It throws light on the transactions of that period, and shows that Scott kept a sharp look- out, carefully considered the affairs of the concern, and was any thing but careless, as Mr Lockhart would have it, of his own interest : — " Dear John, " I return the papers for revision. After mature delibera- tion, I am still of opinion that we should average the clear divisible profits of Ballantyne & Co. from this term to Martin- mas 1808, at £1200, of which James to draw £800, and I £400, by half-yearly payments, or as shall be most easy for the business. This will leave a sinking- fund of £700 or £800 in the course of the year, which will be applied to the payment of interest or trade-interest, and the balance to the gradual extinction of company debts. Some sort of minute should be made of this engagement, which must be held sacred. If James finds his £800 too much, we can readily take any part of it back, as payment of stock. But, considering he has considerable sums of interest to pay, I fear he will not save much out of it. It is, however, a very handsome allowance, and should be amply sufficient for the present. If all con- tinues well, I have no doubt the next year's dividend may prudently he raised to £1000 to James, and £500 to me. * Sic in original. scott's own view. 23 This simple plan will save you the trouble of all those half- yearly calculations, excepting- as a check upon our rate of profits, and will prevent, were that likely to occur, the least chance of disagreement. " In striking James's stock, I fear the balance of the cash- accounts clue by him at the commencement of the copartnery must be deducted. In fact, they truly should never have stood there, as they were a burden on the valued stock which he transferred to the company. 1 have already explained that I think the company should pay the interest of these sums as hitherto incurred. When we see how the difference between his stock and mine stands, a considerable part, if not the whole of the balance, should bear 15 per cent, in my favour. " With respect to accommodations, in my opinion we ought to get rid of all that floating balance which, with circumstances attached to James's situation, has hitherto kept us in a state of poverty. And, in general, when a partner is applied to for his individual security, it should, I think, be optional to him to be the banker himself, if it suit his convenience better than to give a security. Bankers' interest seldom comes lower, with one charge and another, including renewals, than L.6 or L.7 ; and though, to a partner, the company pays L.15, yet a pro- portion of the balance is out of his own pocket, in as far as it diminishes his interest in the free profit. On the other hand, while bills belonging to the company are discountable without such security ; or if the company, on its own credit, can pro- cure a stationary loan at L.5 per cent., it would be unjust that a partner should force a loss upon them. I mention this be- cause I shall have a large sum of money to dispose of at Whitsunday, and the state of my family requires that I make the most of it I can. What Ballantyne and Co. have no occasion for, I will probably employ in some literary speculation. Be- twixt and Candlemas this matter may be considered more narrowly ; mean time, I will lodge what money Fcan to assist against immediate demands. — Believe me, &c. " Walter Scott. « Edinburgh, 31st November 1807. " On looking back at the provision necessary for Whitsun- day 1807, I see it was L.1970. Since that, we have received towards stock — 24 INTEREST AT 15 PER CENT CHARGED BY HIM. Shakspeare, r , £250 Cash by W. Scott on trade-profit, . 900 £1150 " And although James overdrew considerably, yet it was covered by Mrs Brace's loan. Yet the floating balance is still £1500 ; for, although you reduce it to £900, it is by reckon- ing the cash in hand, and bills, amounting to about £800, great part of which, however, cannot properly be placed against the floating balance, being the funds for paying the profits and carrying on the trade. I observe, however, there is about £400 laid out in stock, which goes a great way to account for the debt remaining so large." This is evidently the letter alluded to by Mr Lock- hart (Pamphlet, page 20,) but its import is very different from what he represents it to be. Our present concern is with that part of it which relates to Mr Scott's ad- vances, on which he drew from the company interest at 1 5 per cent. Mr Scott lays it down, that in so far as his share of stock exceeds Ballantyne's, he ought to receive interest at 15 per cent, on the difference; and he further lays it down, that a partner who, by making pecuniary advances to a company, prevents the necessity of obtaining accom- modations from bankers, ought to receive 15 per cent. on such advances. Having a large sum of money to dispose of at Whitsunday following, he proposes to ac- commodate the company with what it may require, on these terms. He further mentions his advance of £900 " on trade-profit," at the Whitsunday preceding, and observes that the "floating balance" due by the com- pany, which ought to be provided for, is still L.1500. We are not in possession of Mr John Ballantyne's answer to this letter; but the passage from it quoted by Mr Lockhart (Pamphlet, p. 22,) is sufficient for our present purpose : — PARTICULARS OF THIS. 25 Jt It is therefore my decided idea, that the company should take, from the partner willing to advance it, £1100 more, at the trade allowance of fifteen per cent ; and that the sinking fund should be appropriated (if not occupied in a further extent of trade,) towards his repayment." Matters were arranged according to Mr Scott's letter and John Ballantyne's answer to it. As suggested by Mr Scott,* a minute was signed by him and James Ballantyne, by which it was agreed that the whole stock should be constituted at £6000, of which £3000 was to be held as the stock of each ; and by which it was further stipu- lated, that " in the event of either partner's placing or allowing to lie in the funds of the company any sum exceeding their share of the capital, such partner is to receive on such advance a trade profit of fifteen per cent." Scott having previously advanced £900, as mentioned in his letter, made the additional advance of £1100, as proposed by John Ballantyne, the two sums making £2000 ; and the times and manner of these advances appear from Scott's "private or personal account," already so often referred to. In that account, under the date of May 25, 1808, there is the following entry : By interests due (upon the loans, as under, to make up the £2000,) - - £96 (. 6 ms. on £900, £67 10 0") 173 days on 260 18 9 6 V £96 3 40 days on 611 10 9) The interest only on these sums is carried into the account, the sums themselves being merely jotted down in order to show how the interest arises on them. From the period of interest calculated on each, it appears that £900 was advanced at Martinmas 1807, £260 a few- days afterwards, and £611 forty days before Whitsun- * See Mr Lockhart's pamphlet, p. 23. c 26 PARTICULARS OF THIS. day 1808. This still left £229 " to make up of the £2000 ;" and this balance, of course, on which no interest is calculated, must have been paid by Scott at this term of Whitsunday 1808 ; for, at the Martinmas following, we find him credited with interest, or " com- muted profit," as it is called, for six months on the whole £2000 ; this interest at 15 per cent being £150. At Martinmas 1809, the period when the personal accounts between the company and the partners were closed by the minute of agreement already mentioned, * Mr Scott is credited with " One year's commuted profit on £2000, - £300." At that term of Martinmas 1 809, Mr Scott made a fur- ther advance, on similar terms, of £1000, and after- wards drew from the company " trade interest" on his whole advance of £3000, at the same rate of 15 per cent, or £450 annually. This is shown by the two States of Stock, made up at Martinmas 1810, and Mar- tinmas 1811, in pursuance of the agreement of Decem- ber 1809, and entered in the same volume which con- tains the balanced accounts between the company and the partners.f By the first of these States, the profit on the year from Martin- mas 1809 to Martinmas 1810, is - £2208 Against this are placed — The portion of profit divided between the partners in terms of the minute (£900 to Ballantyne, and £450 to Scott) viz., - £1350 Trade interest paid to Mr Scott, 450 Balance remaining, carried to sinking fund, - - 408 £2208 » See ante, page 20. f See Appendix, No. I. TARTICULAIIS OF THIS. 27 By the second State, the profit for the year to Mar- tinmas 1811 is £2016. Against it, as before, are placed the £1350 of profits divided between the part- ners, the £450 of trade interest paid to Scott, and the balance of £216 carried to the sinking fund. In Mr Scott's letter above quoted, he says, " I shall have a large sum of money to dispose of at Whitsunday, and the state of my family requires that I make the most of it." And our readers see that he took good care to do so. Over and above those advances made by him which were sunk and invested in the capital stock of the company, he made other advances, to the amount of £3000, to be applied for the accommodation of the company, by paying off floating debts, which would otherwise have rendered it necessary to raise money from bankers or otherwise. Upon these advances, thus made by way of accommodation or loan, he charges the com- pany with interest at the rate of fifteen per cent. Mr Lockhart says that " this was quite a fair stipulation ;" and Scott himself, as we have seen in the letter in which he proposes it to John Ballantyne, attempts a justification of it, as being preferable to obtaining accommodation from bankers. In consequence of it, Mr Scott not only drew his regular one-third share of the profits of the business, but, over and above, he drew from the concern L.450 annually, as interest on his loan o/L.3000. Mr Scott admits in his letter, that, in thus making himself the banker for the company, he charged the com- pany more than twice as much as the expense of accom- modations from bankers, including the cost of renewals, would have come to ; but, he says, " though to a part- ner the company pays 15 per cent, yet a proportion of the balance is out of his own pocket, in as far as it diminishes his interest in the free profit." This, we confess, is an 28 scott's defence of the proceeding. argument which we are unable to understand. If an indi- vidual partner of a company has private funds of his own which he is desirous of laying out at interest, he stands, quoad hoc, in the same relation to the company as any other capitalist would do who has money to invest. Scott, having a few thousands of his own to dispose of, was entitled to lend it to his own partner, or to his own company, on as favourable terms as he could have obtained from any other party ; but we doubt very much whether he was entitled to avail himself of his eontrol over the affairs and transactions of his own company, to demand from his partner terms which he could not have asked or obtained from any other person. Suppose Mr Scott to have been simply a monied man, with L.3000 to dispose of, would he have proposed to any mercantile company with which he had no concern, to lend them this money at 15 per cent interest ? Or, suppose that he had found some such company necessitous enough to take the money on these terms, what name would have been bestowed on his share of the transaction ? As for the term, "trade interest," used to designate this interest at fifteen per cent, it was, we apprehend, a novelty in commercial language, a phrase coined for the occasion, to denominate a species of interest previous- ly nondescript. There were two relations in which Scott stood towards the company — its -partner, and its creditor. As a partner of a concern that required to borrow money to meet its demands, he had, of course, to lay his account with a share of the annual expense attending such a loan. As possessed of separate funds of his own, he was entitled to propose himself as the creditor of the company, and, of course, to get repay- ment of any sums lent by him for its accommodation, witli such a fair return as might be agreed on. But he was decidedly not entitled to demand such a return for ANSWER THERETO. 29 his money as not only covered his share of loss as a partner, but also put an exorbitant profit on the invest- ment into his own pocket ; for it will be obvious to any one who will give the matter a moment's attention, that Scott, from the mere circumstance of his connexion with a concern that required an advance which he had separate funds of his own to provide, pocketed 10 per cent for his money, the clear return being £300 on an advance of £3000. Now, we ask any reasonable man, if a partner of a company is thus entitled to make the most of his money at the expense of those with whom he is associated, or to impose an annual charge of 15 per cent on them, whilst by his own admission they could have procured it from the banks at 6 or 7 per cent? The answer is to be found in Scott's own words : — " While bills belonging to the company are discountable, or if the company, on its own credit, can procure a stationary loan at 5 per cent, it would be unjust that a partner should force a loan upon them." Let it be supposed for a moment that Ballantyne, the two-thirds partner, had been the lender of the money, instead of Scott, and had proposed, as the terms of the loan, that he should re- ceive credit in the company's books for interest on the amount, at the rate of thirty per cent. We should like to have heard Mr Lockhart's indignant exclamation at so monstrous a proposal. Many would then have been the marks of admiration with which it would have been blazoned forth to the world ; and yet the case is exactly the same as the present, as far as the lender is concerned ; and Ballantyne would have been drawing no more than Scott actually did draw, namely, a clear profit of 10 per cent on the money advanced, the remaining 20 per cent being, to use Sir Walter's own words, paid " out of his own pocket, in as far as it diminishes his interest in the free profit." Of the correctness of this any per- 30 ANSWER THERETO. son may satisfy himself in half a minute by putting the figures down on paper. The whole attempt, indeed, to mix up the two characters of partner and creditor is an utter fallacy, and could never have been adopted by Sir Walter Scott at all, had he allowed himself for a mo- ment to consider the result to his partner. Mr Lockhart, it is easy to see, is not unconscious of all this ; and therefore he extenuates the matter by say- ing (p. 23), that " the accounts and letters afford no evidence of Scott's ever receiving interest upon any of his advances, except once or twice." How Mr Lockhart should have failed to discover " evidence" of such pay- ments while he had the balance sheets lying before him, is to us incomprehensible. Perhaps the following entries may serve to enlighten him upon the subject, unless he is determined to remain wilfully blind : — By Mr Scott's " personal account," under the date of 25th May 1808,heis credited, " By interests due upon the loans as under, to make up the £2000, £96 3 Under the date of 25th November 1808, he is cre- dited, " By six months' commuted profit" (an- other name used for this fifteen per cent) on £2000, - ■• - 150 Under the date of Martinmas 1809, he is credited, " By one year's commuted profit''' on £2000, 300 By the State of Stock at Martinmas 1810, there is " Trade interest paid Walter Scott, Esq.," 450 This is the interest at 15 per cent on £3000, then the amount of his advance, paid to him out of the profits of the preceding year, over and above his share (amounting to L.450) of the divisible profits for that year. And at Martinmas 1811, there is, in like manner, " Trade interest paid," - - 450 £1440 3 So that, from Whitsunday 1808 to Martinmas 1811, ANSWER THERETO. 31 Mr Scott received £1446, as interest on his advances for the accommodation of the company; which ad- vances, for a part only of the above period, amounted ( to £3000. There cannot, therefore, be a shadow of a doubt, that the company was much more heavily burdened on ac- count of these advances made by Mr Scott, than it would have been had it obtained pecuniary accommoda- tion to the same amount in any other way that is usually resorted to. We have further to remark on this subject, that the principal sums advanced were not entered to Scott's credit in his account with the company ; a circumstance which shows of itself that he made them, not in the ca- pacity of a partner, but of a creditor. They were in- tended to be merely temporary, and to be repaid as soon as possible ; and it is by no means customary to open a separate account in the books of a commercial concern, in the name of every person from whom it may receive a temporary loan. Advances made by Scott, not on account of his capital stock, but merely by way of tem- porary loan, could not regularly be carried to his account as a partner : if carried to his account at all, it must have been to a separate account, expressly opened for that purpose, which was not necessary. Neither, in like manner, would the interest to Scott on these sums have been placed to his account, any more than the principal, had it been merely the regular interest on money lent ; but Scott's novel stipulation that he was to receive fifteen per cent, under the name of "trade interest," or " commuted profit," led to the anomalous procedure of placing this interest to his account, under the flimsy disguise of its being an additional share of the profits. Where one partner advances a larger share than an- 32 ANSWER THERETO. other to the capital stock of the company, he may, un- doubtedly, stipulate for a larger share of the profits. But this was not the case here. The shares of the capital stock were originally made, and all along kept equal ; and the division of profits apportioned on that principle — Scott receiving one-third, in consideration of his share of capital, and James Ballantyne two-thirds, in consider- ation, not only of his share of capital, but of his super- intendence and management of the business. The advances now in question, amounting to £3000, were made by Scott, not as a partner, but, as he says himself as a banker to the company. " When a partner," he says, in his letter to John Ballantyne, " is applied to for his individual security, it should, I think, be optional to him to be the banker himself, if it suits his convenience." As a banker, then, he made these advances; and he ought not to have made them on higher terms than a banker would have been entitled to do. There are, moreover, other circumstances quite incom- patible with the supposition that this £3000, advanced by Scott, was to be considered an addition to his share of the capital stock of the company, on account of which he was properly entitled to stipulate for an addi- tional share of profits. In the first place, £1200 of this £3000 was ad- vanced by Major Scott, Mr Scott's brother, as a loan by Major Scott to the company, for which the com- pany granted an obligation to give Major Scott a bond over the company's premises ; a fact which our readers will find established by correspondence which we shall have occasion to refer to in the sequel. In consequence of this transaction, Major Scott was the creditor of the company to the extent of this £1200 ; on which, as well as the remainder of the £3000, Mr Scott stipulated for fifteen per cent interest. Now, ANSWER THERETO. 33 whatever may be thought of the propriety of Mr Scott himself drawing this fifteen per cent under the name of " trade interest" or "commuted profit," surely Major Scott, at all events, could have no possible right to any such amount of interest. It does not appear that the bond ever was completed; but the obligation to grant it completely fixes the nature of the transaction. We have no access to know how Mr Scott and his bro- ther ultimately settled this matter between them ; but there can be no doubt that Mr Scott paid this sum, or gave his own security for it, to his brother; and thus became the company's creditor for it, as well as the rest of the £3000. This, indeed, is shown to have been the case, by the other circumstance we have to mention on this head : — namely, that Mr Scott, at a subsequent period, stated this £3000 as a debtdue to him by James Ballantyne personally. In the missive letter, drawn up by Scott, in which the mutual obligations of the parties are full ylaiddown, as the basis of the new contract of copartnery, formed in 1822, Scott, after mentioning that "it is with a view to ex- plain and ascertain the terms of this new contract, and the relative rights of the parties to each other, that these missives are exchanged," proceeds to say : — "First, then, it appears from the transactions in our former co- partnery, that you were personally indebted to me, in the year 1816, in the sum of £3000." As the sums composing this £3000 were, as has been seen, advanced at different times by Mr Scott, as banker for the com- pany, and were applied to the company's purposes, we confess it does appear strange, that, under the new ar- rangement of 1816, the whole amount should have been stated against Mr Ballantyne individually, while Sir Walter Scott was obviously chargeable with his share of it, as a company debt. But, be this as it may, the 34 DRAFTS OF PARTIES BETWEEN 1805 AND 1807. fact of its being so stated, utterly excludes the notion that the money was advanced by him as an addition to his share of the capital stock. When we observe, then, that the proposition of mak- ing these advances came from Mr Scott himself, that the stipulation respecting the terms came from himself, and that, in the course of three years and a half, he drew from the company within a trifle of £1500 of in- terest, on a principal of £3000 — we may, with all re- pect for the memory of a great man, be forgiven for saying, that, in this affair at least, he showed no want of attention to his own advantage. We must now return to Mr Scott's letter to John Ballantyne of "31st November 1807," as it materially bears upon some of the charges brought against James Ballantyne by Mr Lockhart. On page 20 of his pamphlet, Mr Lockhart has the following sentence, blazoned as a whole paragraph : — " On the whole, between Whitsunday 1805 and Mar- tinmas 1807, it appears that Scott's drafts on the busi- ness came to £306 : 4 : 3 : — James Ballantyne's to £3966 : 4 : 1 ! ! ! " We have already asked, in reference to this assertion, whether it can be credited that any man in his senses, in Scott's situation, even supposing him to have been ever so much of a sleeping partner, with balance-sheets regularly laid before him for the purpose of examination and approval, and staring him in the face every six months, could have been blind to, or acquiesced in, such a course of barefaced plunder. The terms of Mr Scott's letter to John Ballantyne, written immediately after the above period of Martinmas 1807, show that Scott was perfectly well aware of the amount of James Ballan- tyne's drafts, and of the reasons for them ; with which reasons, moreover, he was satisfied. MR LOCKHART MAKES A DISCOVERY. 35 Mr Lockhart, to place James Ballantyne's conduct in the worst light, has picked out the precise point at which his drafts, as contrasted with Scott's, would have the most unfavourable appearance. We have already ex- plained, that James Ballantyne, at the commencement of the partnership, continued liable for the previous en- gagements of his own printing business ; and, to meet these engagements, was at first obliged to draw largely ; but he did so, not from the profits of the company alone, but also from the sums at his credit for debts due to him prior to the copartnership. Mr Lockhart makes a great noise about a cash-credit for £500 which James Ballantyne had with the Royal Bank of Scotland; and which, it seems, was palmed upon Scott, at the commencement of the partnership, as part of Ballantyne's nominal capital. " The accounts," says Mr Lockhart, (p. 17,) " leave no doubt that, when the contract of 1805 was signed, James was largely in debt both in Kelso and in Edinburgh. Nay, it will be shown very shortly, that an ingenious attempt was made to establish £500 of his nominal capital out of a cash credit to that amount with the Royal Bank of Scotland, for which Scott was sole security." This would have been an ingenious attempt indeed, to make Scott believe that a debt owing by Ballantyne to the Royal Bank, and for which he (Scott) was security, was equal to £500 of capital brought by Ballantyne into the concern. But our readers, we believe, are aware by this time, that Scott was not exactly the kind of man with whom such attempts would go down. The thing, indeed, is unintelligible and absurd. Mr Lockhart* has discovered this mare's nest in a letter of John Bal- lantyne's to Scott, in which John says, speaking of his * Mr Lockhart's pamphlet, p. 21. 36 EXPLANATION THEREOF. brother's stock in the company, that " a part of this stock was created by a cash account which he held with the Royal Bank." This is the sole foundation on which Mr Lockhart makes his charge ; and it is plainly a mere inaccuracy of expression, which, however, does not bear the construction Mr Lockhart puts upon it, and which, moreover, John corrects in his next letter to Scott, quoted by Mr Lockhart in the same page of his pamphlet. "In the second letter," to use Mr Lockhart's words, " Mr John writes thus : — ' At the commencement of the company, James Ballantyne's personal stock was taken to credit as his share of the joint stock of the company. This con- sisted (as per private ledger) of house in Foulis' Close, presses, types, materials, &c. &c. ; but in it was not in- cluded the £500 due by him to the Royal Bank. His additional stock since has arisen from advances of money he procured as loan, as well as he did this £500.' " This, as our readers already know, is perfectly cor- rect. The whole of James Ballantyne's original capital, brought into the copartnership at its commencement, con- sisted of articles of real and moveable property then be- longing to himself, of the value of £2090, and no part of it consisted of money either due to him, or, what would have been an Irish kind of stock, due by him. The matter of the cash credit is a very simple one. He had formerly, when he began business by himself in Edinburgh, obtained, as is customary in Scotland, a cash credit with the Royal Bank. A person so obtain- ing a cash credit with a bank, always gets one or more, as may be required, of his friends to be security for his drafts to the stipulated amount ; and on this occasion his friend Mr Scott became his security, but not the only security, as Mr Lockhart has asserted in his pamphlet, and with his usual attention to facts. The obligants in EXPLANATION THEREOF. 37 the bond, along with Mr Ballantyne, were Mr Scott and the Rev. Robert Lundie, minister of Kelso ; and, as the security of the latter gentleman was undoubted, Mr Ballantyne was only indebted to Mr Scott being security for him to the extent of £250, in place of £500, so confidently asserted by Mr Lockhart. Of course, Mr Ballantyne made use of this credit for the purpose for which it was obtained, — in purchasing articles of stock and otherwise carrying on his business ; and when he entered into the partnership with Scott, a portion of his stock in trade, which became his capital in the new concern, had been purchased with money drawn, by means of his cash credit, from the Royal Bank. This was evidently John Ballantyne's meaning when he said, in his first letter quoted by Mr Lockhart, that " a part of this stock was created by a cash account which he (James) held with the Royal Bank ;" and is not at all inconsistent with the more precise and distinct explana- tion given by John Ballantyne, in his second letter written immediately afterwards. In regard to this cash credit with the Royal Bank, it is proper to add, that it remained a debt due by James Ballantyne to the Royal Bank till the formation of the new copartnership in 1822, and that its extinction was then made a proviso by Scott, who, in the missive letter containing the terms of the new agreement, inserted the following clause : — " Tertio, there is a cash credit in your name, as an individual, with the Royal Bank, for £500, and which is your proper debt, no part of the advances having been made to James Ballantyne & Co. I wish my name withdrawn from this obligation, where I stand as a cau- tioner [surety,] and that you would either pay up the account or find the Bank other caution." Accordingly, James Ballantyne afterwards paid up the 38 THE BOOKSELLING HOUSE STARTED. account ; and so ends the history of the cash credit with the Royal Bank. While the printing establishment of James Ballantyne and Company was thus prosperous — while its celebrity was daily increasing, and its profits averaged above £2000 per annum — in an evil hour the bookselling and publishing house of John Ballantyne and Company was projected. The original formation of this concern is attributable wholly to Mr Scott, and arose out of his own private views and objects, as its disasters arose entirely from his own rash and improvident specula- tions. Mr Lockhart, in a passage we have already quoted,* speaking of Scott at an earlier period, says : — " He had, long before this, cast a shrewd and penetra- ting eye over the field of literary enterprise, and deve- loped in his own mind the outlines of many extensive plans, which wanted nothing but the command of a sufficient body of able subalterns to be carried into execution with splendid success." That the establish- ment of a publishing house was one of those extensive plans which owed its existence to Scott's survey of the field of literary enterprise, is substantially admitted by Mr Lockhart himself ; while he endeavours to lay upon the shoulders of the subalterns the failure of the under- taking, though it appears, even from his own narrative, that Scott, from the first to the last, directed its opera- tions, projected all its unfortunate speculations, and exer- cised an absolute control over its management. The origin of the publishing house of John Ballan- tyne and Company, was a consequence of the breach which took place between Scott and Constable. Mr Lockhart,f speaking of Scott's occupations in the year 1808, says,— " See ante, p. 8. ] Life, vol. ii., p. 195. VIEWS WITH WHICH THIS WAS DONE. 39 " He was deep in Swift ; and the Ballantyne press was groaning under a multitude of works, with almost all of which his hand or his head had something, more or less, to do. But a serious change was about to take place in his relations with the spirited publishing house which had hitherto been the most efficient supporters of that press ; and his letters began to be much occupied with differences and disputes which, uninteresting as the details would now be, must have cost him many anxious hours in the apparently idle autumn of 1808. Mr Con- stable had then for his partner Mr Alexander Gibson Hunter, afterwards Laird of Blackness, to whose intem- perate language, much more than to any part of Con- stable's own conduct, Scott ascribed this unfortunate alienation ; which, however, as well as most of my friend's subsequent misadventures, I am inclined to trace in no small degree to the influence which a third person, hitherto unnamed, was about this time beginning to exercise over the concerns of James Ballantyne." Mr Lockhart proceeds to give an account of the progress of the breach between Scott and Constable ; and, in the course of his own narrative, there is not a syllable to confirm his assertion that the quarrel was attributable, in any degree, to the influence of John Ballantyne, the " person hitherto unnamed," to whom Mr Lockhart alludes. Mr Lockhart ascribes the commencement of the quarrel to " a soreness originating in the recent conduct of Mr Jeffrey's journal," the great primary source of the wealth and authority of the house of Constable. Mr Murray of London had had the sagacity to prognosticate the coming squalls, and to take advantage of them by cultivating a connexion with the Edinburgh printing- house. He learned that " a new publishing house in Edinburgh, in opposition to Constable, was all but ma- 40 THESE VIEWS ENTIRELY tured ;" and that " Scott had chalked out the design of an Edinburgh Annual Register, to be conducted in opposition to the politics and criticism of Constable's Review" Sti- mulated by these tidings, Mr Murray came to Edin- burgh for the purpose of connecting himself with these undertakings, and with the further purpose of opening to Scott his own scheme of the Quarterly Review. At the time of Mr Murray's arrival, (in October 1808,) the publication in the Edinburgh Review of Brougham's article on the work of Don Pedro Cevallos, had excited such strong resentment in the mind of Scott, that the breach with Constable had become complete. Mr Lock- hart proceeds to give a great deal of correspondence re- lating to the establishment of the Quarterly Review, in which Scott displays an active and sanguine spirit; and, in his letter to Mr Ellis, of the 18th of November 1808, after discussing the plan of the Review, he adds the following remarkable passage, which illustrates the feel- ings in regard to Mr Constable, which actuated him, not only in engaging in that work, but in projecting the Edinburgh Annual Register : — " Constable, the great Edinburgh editor, has offended me excessively by tyrannizing over this poor Teutcher,* and being rather rude when I interfered. It is a chance but / may teach him that he should not knock down the scaffolding before the house is quite built. Another bomb is about to break on him besides the Review. This is an Edinburgh Annual Register, to be conducted under the auspices of James Ballantyne, who is himself no despicable composer, and has secured excellent assistance. I cannot help him, of course, very far ; but I will certainly lend him a lift as an adviser. I want all my friends to befriend this work, and will send you a prospectus when it is published. It will be valde anti-Foxite. This is a secret for the present." * Weber, a poor German whom Scott used to employ as a liter- ary assistant. MR scott's own. 41 Constable & Co., alarmed at this formidable cam- paign about to be opened against them, endeavoured to make a peace with the hostile leader. On the 11th of January 1809, they wrote to Scott as follows : * " We regret that you have not been more willing to over- look the unguarded expression of our Mr Hunter, about which you complain. We are very much concerned that any circum- stance should have occurred that should thus interrupt our friendly intercourse ; but, as we are not willing to believe that we have done any thing which should prevent our being again friends, we may at least be permitted to express a hope that matters may hereafter be restored to their old footing between us, ivhcn the misrepresentations of interested persons may cease to be remembered." This attempt was fruitless. Scott repelled the advance thus made to him by a firm and deliberate letter, in which he thus stated the grounds of a quarrel which he affirms to be irreconcilable. It is dated the 12th of January 1809 :— " Gentlemen, — To resumed/or the last time the disagreeable subject of our difference, I must remind you of what I told Mr Constable personally, that no single unguarded expression, much less the misrepresentation of any person ivhatever, would have influenced me to quarrel with any of my friends. But if Mr Hunter will take the trouble to recollect the general opinion he has expressed of my undertakings, and of my ability to exe- cute them, upon many occasions during the last five months, and his whole conduct in the bargain about Swift, I think he ought to be the last to wish his interest compromised on my account." Two days after this very decided rebuff, we find Mr Scott, in a letter to Mr Morritt, one of his most confi- dential friends, giving a most explicit account of his plan of hostility to Constable and Co. f * Life, vol. ii., p. 220. t Life, vol. u\, p. 232. 42 PLAN OF HOSTILITY "I have," he says, "been concocting, at the instigation of various loyal and well-disposed persons, a grand scheme of oppo- sition to the proud critics of Edinburgh. It is now matured in all its branches, and consists of the following divisions. A new Review in London, to be called the Quarterly, William Gifford to be the editor ; George Ellis, Rose, Mr Canning if possible, Frere, and all the Anti-Jacobins, to be concerned. Then, Sir, to turn the flank of Messrs Constable § Co., and to avenge myself of certain impertinences which, in the vehemence of their Whiggery, they have dared to indulge in towards me, I have prepared to start against them, at Whit- sunday first, the celebrated printer Ballantyne (who had the honour of meeting you at Ashestiel) in the shape of an Edin- burgh publisher, with a long purse and a sound political creed, not to mention an alliance offensive and defensive with young John Murray of Fleet Street, the most enlightened and active of the London trade. By this means I hope to counter- balance the predominating influence of Constable 8f Co., who at present have it in their power and inclination to forward or sup- press any book, as they approve or dislike its political tendency." This last letter, even were there nothing- else, is con- clusive of the fact, that the Edinburgh publishing house was entirely an emanation from the brain of Scott ; — one of the " divisions" of his " grand scheme of opposition to the proud critics of Edinburgh." In order " to turn the flank of Constable & Co., and to avenge himself of certain impertinences which they had dared to indulge in" towards him, he resolved to start against them "the celebrated printer Ballantyne," in the character of " an Edinburgh publisher." Such is Scott's own distinct ac- count of the origin of the publishing house in Edinburgh, when he himself was on the eve of starting that house. Mr Lockhart, in one place, goes so far as to admit that " the new bookselling house in Edinburgh was begun in the short-sighted heat of pique." * But this is not enough. * Life, vol. ii., p 223. TOWARDS CONSTABLE & CO. 43 Mr Lockhart himself has said sufficient to show, that this bookselling house was one of those extensive plans of enterprise which had long lain in embryo in the mind of Scott, and that it was warmed into birth by the spirit of animosity and revenge towards Constable and Company. Upon what grounds, then, has Mr Lockhart pretend- ed to trace this breach between Scott and Constable & Co. to the influence of John Ballantyne? When Messrs Constable & Co. themselves made a similar innuendo, by speaking, in their conciliatory letter to Scott, of " the misrepresentations of interested persons," we have seen how decidedly Scott repelled the insinuation. The name of John Ballantyne does not once occur as con- nected with any of the circumstances of this quarrel; and it is perfectly evident, even from Mr Lockhart's own account, that he had no concern with it whatever. So much for the origin of the firm of John Ballantyne and Company. Now for its progress. The success of a publisher must depend on the judg- ment and knowledge of the trade exercised in his specu- lations. Now Mr Lockhart admits, over and over again, that the speculations of John Ballantyne & Co. were directed by Scott, and that they were almost uni- formly injudicious. What, then, save the ruin of the concern, could have been the result of such speculations? and to whom is their result to be ascribed, save to their author? Of the nature of these speculations, and of their having originated with Scott, we shall produce ample evidence from Mr Lockhart's own pages. " In the course of this autumn (1810)," says Mr Lockhart, * " appeared the Poetical Works of Miss Seward, in three volumes 12mo, with a prefatory me- * Life, vol. ii., p. 328. 44 CALAMITOUS SPECULATIONS AND moir of her life by Scott- This edition had, as we have seen, been enjoined by her last will ; but his part in it was an ungrateful one, and the book was among the most unfortunate that James Ballantyne printed, and his brother published, in deference to the personal feelings of their part- ner. He had been, as was natural, pleased and flattered by the attentions of the Lichfield poetess in the days of his early aspirations after literary distinction." " The publishing firm," says Mr Lockhart after- wards, " was as yet little more than a twelvemonth old, and already James began to apprehend that some of their mightiest undertakings would wholly disappoint Scott's prognostications. He speaks with particular alarm of the edition of Beaumont and Fletcher's Plays, of which Weber had now dismissed several volumes from his in- competent and presumptuous hand. How Scott could ever have countenanced the project of an edition of an English book of this class by a mere drudging German, appears to me quite inexplicable. He placed at Weber's disposal his own annotated copy, which had been offered some years before for the use of Gilford ; but Weber's text is thoroughly disgraceful, and so are all the notes except those which he owed to his patron's own pen. James Ballantyne augurs, and well might he do so, not less darkly as to ' the Aston speculation' — that is, the bulky collection entitled ' Tixall Poetry.' * Over this,' he says, ' the (Edinburgh) review of the Sadler has thrown a heavy cloud — the fact is, it seems to me to have ruined it. Here is the same editor and the same printer, and your name withdrawn. I hope you agree with John and me that this Aston business ought to be got rid of at almost any sacrifice. We could not now even ask a London bookseller to take a share ; and a net outlay of near £2500 upon a worse than doubtful specula- tion, is surely most tr'°rable and not to be endured.' " THEIR CONSEQUENCES. 45 Mr Lockhart proceeds to mention " another unpro- mising adventure of the season ;" which was the publi- cation of the History of the Culdees, by Scott's worthy old friend Dr John Jamieson, the author of the cele- brated Dictionary. " This work," says Mr Lockhart, " treating of an obscure subject, on which very different opinions were and are entertained by Episcopalians on the one hand, and the adherents of Presbyterianism on the other, was also printed and published by the Ballan- tynes, in consequence of the interest which Scott felt, not for the writer's hypothesis, but for the writer personally ; and the result was another heavy loss to himself and his partners" To these calamitous speculations of this period Mr Lockhart adds another. " But a far more serious busi- ness," he says, " was the establishment of the Edin- burgh Annual Register, which, as we have seen, was suggested by Scolt in the very dawn of the bookselling projects." Mr Lockhart might well speak in such terms of this speculation, when we find him afterwards mention- ing* that when, at a subsequent period, Mr Constable was requested " to take entirely to himself the stock, copyright, and future management of the Edinburgh Annual Register" he declined the proposal, as, " on examining the state of this book, he found that the loss on it had never been less than £1000 a-year." These are pretty good specimens of the judgment and success with which Scott directed the publishing specu- lations of John Ballantyne & Co. The above failures, enumerated by Mr Lockhart himself, were heavy enough of themselves to weigh down the concern ; but many other books were published under the same guid- ance, and with equally bad success. Among these were * Life, vol. iii., p. 58. 46 PRINTING-OFFICE THEREBY INJURED. a collection called Tales of the East, in three ponderous volumes ; a similar volume of Popular Tales ; an edition of Defoe in twelve volumes ; Ferguson's Astronomy ; a General View of the County of Dumfries ; and others, which were found to be unsaleable, and remained a dead stock in the hands of the publishers. Could a concern, so conducted, possibly prosper ? The drain of capital, caused by this load of unsaleable publications, was enormous. All was outlay ; and, as nothing came in, heavy engagements were entered into, which could only be met by kiteflying, the sole recourse in such circumstances. When the affairs of the book- selling house were so disastrous, it is obvious that the printing concern, so closely connected with it, and com- posed of the same partners, must have equally suffered from the connexion. The presses of the printing-office were kept constantly at work on the heavy jobs of the publishing concern : but it is easy to see that, when the publishers were labouring to meet their engagements to strangers, those to their printers would be the last to be provided for. Hence, during the whole subsistence of the book- selling house, the printing concern was saddled with an unprofitable customer, and was not only not paid for its work, but dragged into its customer's embarrassments. The bills granted by the bookselling house to the print- ing concern for printing executed, and not retired when due, were of course kept afloat by renewals, and became blended with the accommodation paper issued by the bookselling firm, which the printing firm assisted in negotiating. Every body at all acquainted with trade must know, that such transactions were a necessary consequence oi the embarrassed situation of the bookselling house, and of the close and intimate relation in which the printing concern stood towards it ; and they afford an easy key SCOTT ULTIMATELY NOT A LOSER. 47 to the embarrassments and annoyances as to pecuniary- affairs during this period, of which Mr Lockhart com- plains so loudly. In the course of keeping afloat a con- siderable mass of paper, to meet the engagements of the bookselling firm, in which the co-operation of the printing firm was required, it is evident that the trans- actions for this purpose must have involved the grant- ing of acceptances, both by the one firm and the other, and mutual advances of cash, to meet such acceptances ; and this explains advances alluded to by Mr Lockhart as having been made by the bookselling to the printing concern. But to say that the printing concern was ever indebted to the bookselling house, is a palpable absurdity. We have seen that, when the bookselling house was set on foot, the printing establishment was realizing a profit of above £2000 per annum ; and, if its actual profits were diminished during the subsistence of the bookselling house, this could only have arisen from its not having realized the proceeds of the work done by it for its most extensive customer, and from the expense of the money transactions which were brought upon it by its connexion with that customer. After all, unfortunate as this publishing concern was, in consequence of the injudicious control exercised by Mr Scott over its operations, it is certain that he did not ultimately lose any thing by it. In the paper written by James Ballantyne on his death- bed, for the use of Mr Lockhart, (and for which that gentleman has made so grateful a return,) he says: — " By May 1813, the absolute throwing away of our own most valuable publications, and the rash adoption of some inju- dicious speculations of Mr Scott, had introduced such losses and embarrassments, that, after a very careful con- sideration, Mr Scott determined to dissolve the concern." 48 SCOTT ULTIMATELY NOT A LOSER. " This," Mr Ballantyne adds, " became a matter of less difficulty, because time had, in a great measure, worn away the differences between Mr Scott and Mr Constable, and Mr Hunter was now out of Constable's concern. A peace, therefore, was speedily made up, and the old habits of intercourse were restored," * Constable agreed to give his assistance, on condition that John Ballantyne & Co. should endeavour to wind up their concerns, and cease, as soon as possible, to be publishers. From that time the bookselling house dis- continued its business ; Scott took its affairs into his own hands ; found means to dispose, on advantageous terms, of its heavy loads of " quire stock," as it was called, or, in other words, the bales of its unsaleable publications ; and finally paid off all its debts, with a surplus of a thou- sand pounds. On the 4th of May 1813, Mr Scott wrote a letter to James Ballantyne, which we print at length in the Appendix, | as it clearly exhibits Scott's views in closing the concerns of the bookselling house, and shows, at the same time, how thoroughly he understood those con- cerns. He explains the manner in which he proposes to get rid of the " quire stock ;" and, though he is aware that " the loss in discounts will be very great," yet he anticipates that the ultimate loss to himself will not be of serious amount. " The loss of the whole sum," he says, " I put into the business (L1500,) will nut essen- tially injure my fortune, and I have no idea of asking you to bear any share of it, though you should have been welcome to your proportion of profit had any ac- crued." His knowledge of the details of the business is evinced by his saying, " I have put this as a general pro- position to you, my good friend, as you do not much * Life, vol. iii,, p. 50. Appendix, No. II. MEANS BY WHICH HE AVOIDED LOSS. 49 admire figures ; but I have sent John an accurate state of the calculations on which I hold it expedient to sell off our stock at what it will fetch," &c. " I trust," he con- cludes, " you will not think I am acting either selfishly or precipitately. I have not proposed stopping a busi- ness which was, ex facie, profitable to others as well as to me, until I made a very great struggle to carry it on. But I cannot support it longer, and any inconvenience directly affecting me would, of course, ruin the printing- office also ; to prevent which, the stock of John B. & Co. must be sold for its marketable value, and all loss submitted to in silence." Upon these views he proceeded, and managed so well, that he brought himself out of the concern with a sur- plus instead of a loss. This ultimate result is thus mentioned by John Ballantyne, in the memorandum- book found after his death, from which Mr Lockhart has made (among others) the following extract : — * "1812. The first partner stepped in, at a crisis so tremendous, that it yet shakes my soul to think of it. By the most consummate wisdom and resolution, and unheard-of exertions, he put things in a train that finally (so early as 1817) paid even himself (who ultimately became the sole creditor of the house) in full, with a balance of a thousand pounds." The manner in which Scott achieved this Herculean labour, appears from many circumstances stated by Mr Lockhart himself; and, certainly, if Scott is chargeable with having so deeply involved himself and his partners, he himself had the merit of extricating them. The means by which he did so were simple but effectual. In disposing of his subsequent works, he made it a part of his bargains with the publishers, that they should * Life, vol. v., p. 78. E 50 DISPOSAL OF OLD STOCK. take a quantity of John Ballantyne & Co.'s stock at a stipulated price ; and this he continued to do till the whole of that stock was taken off his hands on advanta- geous terras. Thus, his first transaction with Constable, in 1813, was the purchase by Constable of the following articles of John Ballantyne & Co.'s stock : * — " Considerable portions of Weber's unhappy Beaumont and Fletcher — of an edition of De Foe's novels, in twelve volumes — of a collection, entitled Tales of the East, in three large volumes 8vo, double-columned — and of another in one volume, called Popular Tales — about 800 copies of the Vision of Don Roderick — and a fourth of the re- maining copyright of Rokeby, price £700." " The immediate accommodation thus received," adds Mr Lockhart, " amounted to £2000." The publication of Guy Mannering was undertaken by Messrs Longman & Co., " on the terms dictated by Scott — namely, granting bills for £1500, and relieving John Ballantyne & Co. to the extent of £500 more." f The first Tales of my Landlord were published by Murray and Blackwood, who "also relieved John Bal- lantyne & Co. of stock to the value of £500." % Scoti's letter to John Ballantyne on this occasion, quoted by Lockhart, shows, says the biographer, " how sharply the unseen parent watched this first negotiation of his Jedediah Cleishbotham." Thus Mr Scott went on, till he came to bargain with Constable for the second Tales of my Landlord, when he stipulated that, along with the work, the publisher should take the ichole of the remaining stock of John Ballantyne & Co. To this Constable agreed ; " and," says Mr Lockhart, " at one sweep cleared the Augean stable in Hanover Street of unsaleable rubbish to the Life, vol. Hi., p. 58. f Life, vol. iii.,p. 324. % Life, vol. iv., p. 20 SCOTT S PURCHASES OF LAND. 51 amount of £5270 !" — " I am assured by his [Constable's] surviving partner," adds Mr Lockhart, " that when he had finally re-disposed of the stock, he found himself a loser by fully two-thirds of this sum." — Very likely ; — but if Scott imposed hard terms on his publishers, by mak- ing them take this " unsaleable rubbish" off his hands, let it be remembered thatitwas "rubbish" of his own making. The embarrassments in which Scott involved himself and those connected with him, by his reckless specula- tions as a publisher, were aggravated by the manner in which, even in the midst of them, he began to indulge his fatal passion for purchasing land ; — to which, and to the baronial style of magnificence and enormous expense to which it afterwards led, are to be ascribed the cala- mities which darkened the close of his life. In 181 1 he formed the nucleus of his wide, but barren domain, by the purchase, for £4000, of the farm to which he gave the name of Abbotsford. Even at this time the concern of John Ballantyne & Co. was struggling with diffi- culties ; but, in 1813, when these difficulties had come to the crisis already described, Scott, in Mr Lockhart's own language, " was preparing fresh embarrassments for himself by commencing a negotiation for a considerable ad- dition to his property at Abbotsford." This new property was, as Mr Lockhart describes it, a desolate and naked mountain-mere, but it contained Scott's favourite Cauld- shiels Loch; " and," says Mr Lockhart, "to obtain this lake at one extremity of his estate as a contrast to the Tweed at the other, was a prospect for which hardly any sacrifice would have appeared too much; and he contrived to gratify his wishes in the course of that July, to which he had spoken of himself in May as looking forward 'with the deepest anxiety.'" * We have said that, in 1816, the first Tales of my * Life, vol. iii., p. 63. 52 PROFITS OF SCOTCH NOVELS ANTICIPATED. Landlord were published by Murray and Blackwood, Mr Lockhart, speaking of this matter, makes some remarks on Scott's purchases of land, which deserve peculiar attention.* " Why," he says, " Scott should have been urgently desirous of seeing the transaction settled before the expiration of the half-yearly term of Whitsunday, is sufficiently explained by the fact, that, while so much of the old unfortunate stock of John Ballantyne & Co. still remained on hand — and with it some occasional recurrence of commercial difficulty as to floating bills was to be expected — the sanguine author had gone on purchasing one patch of land after another, until his estate of Abbotsford had already grown from a hundred and fifty, to nearly a thousand acres. The property all about his original farm had been in the hands of various small holders, (Scottice Cock- Lair ds ;) these persons were sharp enough to understand, erelong, that their neighbour could with difficulty resist any temp- tation that might present itself in the shape of an offer of more acres ; and thus he proceeded, buying lot after lot of unimproved ground, at extravagant prices, his appetite increasing by what it fed on ; while the ejected yeomen set themselves down elsewhere to fatten at their leisure upon the profits, most commonly the anticipated profits, of the Scotch novels." It is not enough to say, merely, that the profits of the Scotch novels, spent by Scott, were " anticipated:" for, in truth, the greatest part of them were never realized. They consisted, chiefly, in acceptances at long dates, given by his publishers, Constable & Co., which, when they became due, instead of being paid in cash, were kept afloat by renewals. Scott had, in the mean time, by discounting the original bills, received and spent the money which they represented : and the consequence * Life, vol. iv., p. 16. JOHN BALLANTYNE. 53 was, when the general crash took place, that all this money, to an immense amount, became one of the heads of claims against his estate, and the estate of James Ballantyne & Co., whose firm was used in negotiating these bills, as well as the still more enor- mous amount of paper, which was discounted without value, and for his personal accommodation. Mr Lockhart labours to scrape together instances of misconduct on the part of James and John Ballantyne during the period of these transactions. These, in so far as there is any thing at all in them, amount merely to matters of detail. John Ballantyne was sometimes too sanguine in 'his calculations, and on one occasion made too high an estimate of the value of the heavy stock of the bookselling concern. The only specific complaint,- at this time, against James, is a piece of " disregard to his own credit," which consisted in having overlooked a small sum due for taxes, for which a poinding was issued during his absence in Kelso ; — a piece of inadvertency, certainly, sufficient to annoy Mr Scott for the moment. They were all, in short, such things as occur to ruffle the temper of people engaged in troublesome affairs ; and that was all their effect on the mind of Scott, who never departed from the kindness and confidence, in all serious matters, with which he always treated the brothers. In regard to John, we have already placed against the petty cavils of Mr Lockhart the language of Scott himself, in a letter* written in the very midst of all the turmoils arising out of the unhappy affairs of the book- selling house, and after John had given Scott those sub- jects of displeasure of which Mr Lockhart makes so mighty a matter. In spite of Mr Lockhart's sneers, we * First printed by Mr Lockhart in the Life, vol. iii., pp. 59, 60, and quoted in the Refutation, p. 18. 54 JOHN ballantyne's trust-estate. shall again insert the passage, as some of our readers may not have previously seen it. " Adieu, my dear John ; I have the most sincere regard for you, and you may depend on my considering' your interest with quite as much attention as my own. If / have ever expressed myself with irritation in speaking of this husiness, you must impute it to the sudden, extensive, and unexpected embarrass- ments in which I found myself involved all at once. If, to your real goodness of heart and integrity, and to the quickness and acuteness of your talents, you added habits of more universal circumspection, and, above all, the courage to tell disagreeable truths to those whom you held in regard, I pronounce that the world never field such a man of business. These it must be your study to add to your other good qualities. Meantime, as some one says to Swift, I love you with all your failings. Pray make an effort, and love me with all mine." Our readers cannot have forgotten Mr Lockhart's own account of Scott's deep affliction, when, standing by the closing grave of John Ballantyne, he whispered in the ear of his son-in-law, " I feel as if there would be less sunshine for me from this day forth." Scott's insight into human character has always been acknow- ledged ; and if, during the trying and eventful years in which they were so closely connected, and till the day when their connexion was severed by death, Scott's esteem and affection for his friend subsisted with even increasing fulness and warmth, who can doubt that that friend was worthy of such sentiments ? In a note on the 64th page of his pamphlet, Mr Lockhart, in his usual spirit, speaks of the circumstance of John Ballantyne's funds, after his death, having been found insufficient for the payment of his debts. Hav- ing applied to the eminent men of business, Messrs Gibson-Craigs, Wardlaw, and Dalziel, by whom the affairs of John Ballantyne's estate were finally wound JOHN BALLANTYNE'S TRUST-ESTATE. 55 wp, we have received from them a clear and detailed view of these affairs, which, but for its length, we should have inserted entire. Its import, however, is this : — It was not only believed by Mr Ballantyne, but by his trustees (of whom Sir Walter Scott was one,) for a long time after his death, that his property was far more than sufficient for payment of his debts. The ultimate de- ficit arose principally from a considerable part of his property, consisting of his villa near Edinburgh, and his interest in certain unpublished literary works, and in unsold copies of others, not having realized their esti- mated value, and from discounts, commission, and in- terest on bills current at the time of his death. John Ballantyne, at that time, was deeply involved in bill transactions with Sir Walter. Messrs Gibson- Craigs, Wardlaw, and Dalziel, after mentioning some of these, say : — " There thus appears to have been bill transac- tions between Mr Ballantyne and Sir Walter Scott, at the death of the former ; but it is not by any means plain which of the parties was the proper debtor to the other. From the accountant's sketch before referred to, it would appear that the bill for £1072 : 4 : 6, retired from the trust-funds, was properly due by Sir Walter Scott, and that a bill for £876, 4s., properly due by Mr Ballantyne, had been retired by Sir Walter, thus leaving a balance due by the latter of £196 : : 6, but the trust-accounts do not show the recovery of this sum ; and in these circumstances it is not possible for us to say, with any degree of certainty, whether Sir Walter was debtor to Mr Ballantyne, or Mr Ballantyne to Sir Walter, on the transaction here alluded to. Apart from the bill transactions, however, Sir Walter Scott appears to have been due Mr Ballantyne, at the time of his death, £181 : : 11, on open account. This sum is in- cluded in the list of debts before referred to, and was 56 JOHN ballantyne's accommodations TO SCOTT. paid by Sir Walter on 19th July 1822; and it seems reasonable to infer that, if Sir Walter had had any claim against the deceaseds estate, instead of paying, he would have retained the money to meet the same in whole or in part." The following note from Sir Walter to John Ballan- tyne, shows that Sir Walter was obtaining accommoda- tions from Mr Ballantyne down to the death of the latter ; — " Dear John, — I received yours of the 25th, with the promissory-note for £350, which I will see retired, being an accommodation to me. I will breakfast with you on Sunday, with D. Terry, who is here. I am almost stupified by the variety of exertions which this canvass occasions. Yours truly, W. Scott. Abbots- ford, Friday. I inclose an acceptance, L.998, to cover certain securities." This note is addressed to "Mr John Ballantyne, Kirklands, Melrose." The canvass to which it alludes was for the office of collector of cess, when Sir Walter made strenuous exertions in behalf of his cousin, the Laird of Raeburn. It took place in April 1821, and John Ballantyne died in June follow- ing ; and in corroboration of what is here said, that Sir Walter Scott was in the habit of getting accommoda- tions from Mr John Ballantyne, we have now lying before us a bill retired by him, of which the following is a copy: — "£538 : 19 : 5. Edinburgh, 13th November 1820. Four months after date, pay to my order Five Hundred and Thirty-Eight Pounds, Nineteen Shillings, and Fivepence ; value in advances made under your orders." (Signed) "John Ballantyne." Addressed " To Sir Walter Scott, Bart, of Abbotsford, Castle Street, Edinburgh." (Signed) " Accept, Walter Scott." This bill was discounted by Donald Smith & Co., bankers in Edinburgh. In regard to James Ballantyne, it is quite sufficient for JAMES BALLANTYNE'S MARRIAGE. 57 our present purpose to quote a passage from a letter written on a serious occasion — James's approaching marriage — in which Scott finds occasion to express his opinion of James's character. Ballantyne, it would seem, had been hurt by some apparent coldness on the part of one of his future wife's relations. " As for the W. S," says Scott, " you can now have only one thing to fear, and you can easily guard against it — I mean a little jealous irritability of feeling, by which I have some- times remarked you influenced towards those whom you suspected of treating you with slight regard, and which sometimes — forgive the freedom that tells you so — rather anticipated the cause ; and, at all events, is much better suppressed. This, and now and then a little slow- ness in business, are the only defects I have been able to discover, after so many years' intimate acquaintance with your temper ; feelings, and habits of acting. And, therefore, as I have told you candidly of the latter when I thought myself called upon to do so, I now, for the same reason, put you specially on your guard against the other." Mr Lockhart, by way of condemning James Ballan- tyne out of his own mouth, gives several passages from his letters to Scott, the import of which he grossly mis- construes. The following is a remarkable instance. On the 22d March 1813, James (according to Mr Lockhart) wrote to Scott thus: — * « It is thus evident that the bookselling could be supported only by credit ; and the best mode would have been for us to have limited it as much as possible. But unfortunately, as it now appears, we did not. We embarked upon various specu- lations, some of which — those in which you were concerned as author or editor — had great success — others, the fair average the bookseller expects. But a third class, and that class un- * Pamphlet, p. 40. 58 PUBLISHING SPECULATIONS. luckily the largest in amount, though not the most numerous, with no success at all corresponding to the expense laid out upon them. Of those, Beaumont and Fletcher, and the Register, have been the heaviest hitherto. By these adventures nearly £15,000 (perhaps more) of stock has been created without any capital whatever ; and, therefore, that sum must be due by us to sundries." Nothing can be more correct than this statement ; but what is Mr Lockhart's commentary upon it ? Why, that it is an admission on the part of James Ballantyne, that, while the speculations belonging to Scott himself had been successful, the others (those, namely, for which the Ballantynes were responsible) had been failures, and had created £15,000 of dead stock. This, at least, is the only conceivable meaning that can be attached to the following remark of Mr Lockhart's : — " James admits, in his letter of 2 2d March 1813, that all the speculations in which Sir Walter had been engaged as author or editor, were crowned with success ; but he states, that the result of various others, notwithstanding of his own ' frugal subsistence' — of which we shall * see ' more by-and-by — had been to incur an outlay of £15,000 on bad stock without any capital." The successful specu- lations are thus, by insinuation, ascribed to Scott ; — the various others, to the Ballantynes. But James Ballantyne could never have admitted a thing which he, as well as Scott himself, knew was not the case ; because Ballantyne specifies, as the heaviest of those various other unsuccessful speculations, which created this load of bad stock, Beaumont and Fletcher, and the Register, which, as was well known to them both, (and has been admitted by Mr Lockhart himself,) were Scott's own speculations. Ballantyne knew, and so did Scott him- self, that Scott had involved the company in these ruin- ous speculations ; but had too much prudence and good JAMES BALLANTYNE's MARRIAGE. 59 sense, considering their relative positions, to cast this in Sir Walter's teeth. Mr Lockhart remarks, that James Ballantyne " does not presume to throw any blame on Sir Walter." Who could suppose for a moment that he would ? Mr Lockhart, in his pamphlet, enters into a number of details respecting James Ballantyne's marriage in 1816, which, as far as we know, are quite correct, though it is difficult to conceive for what purpose they are introduced, as they are not in the least at variance with any thing we formerly stated. James Ballantyne made proposals of marriage to Miss Hogarth soon after the bookselling house of John Ballantyne & Co. had discontinued its business, in circumstances, as was generally understood, of great embarrassment. No settlement of the affairs of that house had taken place ; and the young lady's relations (especially her brother, Mr George Hogarth, writer to the signet,) entertained difficulties as to her union with a man whose affairs seemed so involved. Mr Hogarth having required that James should obtain a release from his responsibilities as a partner of the bookselling house, he applied to Scott for his consent to that measure ; and this consent having been readily given, the release was obtained, and the marriage took place. Mr Lockhart quotes, at great length, a letter dated 15th October 1815, in which James Ballantyne opens this matter to Scott ; but the passage of which Mr Lockhart lays hold, as supporting his case, is the fol- lowing : — " Now, I fear I am in debt for more than all I possess — to a lenient creditor no doubt ; but still the debt exists. 1 am singularly, and almost hopelessly, ignorant in these matters ; but I fancy the truth is, that owing to the bad success of the (30 james ballantyne's marriage. bookselling speculation, and the injudicious drafts so long made on the business which throve, I am de jure et de facto wholly dependent on you. All, and more than all, belonging osten- sibly to me, is, I presume, yours. If I am right in this, may I solicit you, my dear sir, to put yourself in my situation, and give me your opinion and advice." In a subsequent letter (also quoted by Mr Lockhart) James Ballantyne tells Scott that " George Hogarth now gives it pretty clearly as his opinion, that the mar- riage should not take place until the mutual discharge is executed in regard to the bookselling business, with- out which he argues, quite fairly, his sister is not safe ;" and he therefore begs Scott to concur in executing this mutual discharge. Scott, in a letter dated 5th November 1815, (one of the few articles of James Ballantyne's correspondence with Scott that we happen still to have in our posses- sion,) says, — " Your future brother's wish of a complete discharge among the partners respectively of John Ballantyne & Co., not only fully meets my concurrence, but is what I designed to request for my own sake, to put me in the exclusive possession of stock, &c. But it will be impossible to disclose the business to tlie public till all current demands are out-and-out paid, and all the cash account is paid up, for which full provision has been made ; but I think it must be Whitsunday at soonest before it can be closed. / am unconscious of having made any extraor- dinary exertion in yoicr behalf. I think it no more than you would have made for me in the like circumstances ; and your new friends may be assured that, however I may have opportu- nity of serving you, it is neither in my own nature, nor, in all human probability, in the nature of things, that my connexion should prove other than very advantageous to you." The result was, first, that the mutual discharge was executed, whereby the two Ballantynes were released from the bookselling concern, leaving it to Scott to wind JAMES BALLANTYNE'S MARRIAGE. 61 up its affairs, by disposing of its stock and discharging its obligations, which, as we have seen, he so successfully- accomplished ; and further, that Scott took upon him- self the debts and profits of the printing concern ; and it was settled that James Ballantyne was to manage its business, with a salary of £400 a-year, till such time as all incumbrances should be cleared off. Consider now the circumstances under which James wrote the letter, mentioning to Scott his intended mar- riage. Mr Lockhart construes it into an explicit ad- mission that he was indebted to Scott to the extent of more than all he possessed. But James merely said, that, in his ignorance of the state of affairs, he feared and presumed that such might be the case. And his ignorance was perfectly natural : he held a one-fourth share in the firm of John Ballantyne & Co., but had no share in its management, which was conducted by Scott and John, while he was sufficiently occupied with the printing-office. The bookselling firm (as we have al- ready shown) drew the printing firm into the vortex of its multifarious engagements and responsibilities, till (as Mr Lockhart most truly says*) " the obligations of the bookselling firm and those of the printing-house were inextricably mixed up together." James Ballan- tyne thus saw his own firm labouring under a mass of obligations, from which he could look for ultimate ex- trication only to the resources of Scott, upon whom, therefore, it was perfectly natural that he should ex- press his entire dependence : and it will be observed, that it was " to the bad success of the bookselling specu- lation" that Ballantyne thus ascribed his dependence to Scott ; for he could not fail to be aware, that had the printing-office (" the business which throve") been * Pamphlet, p. 55. 62 ARRANGEMENT BETWEEN SCOTT allowed to go on and prosper, any debts originally con- tracted by him to Scott on its account, would, long before, have been cleared off from his share of its large profits. That the arrangement made by Scott at this time " called for Mr James's grateful acknowledgments," is true. Scott showed a friendly interest in his welfare ; and all who remember the warmth of James Ballantyne's kindly feelings, can easily believe that his gratitude was exuberant. But there was nothing remarkable in Scott's kindness. In regard to the mutual discharge among the partners of John Ballantyne & Co., which James requested, Scott himself says, that this discharge was what he designed to request for his own sake, to put him in exclusive possession of stock, &c. ; and, in regard to the arrangement respecting the printing-office, it will be observed that Scott, while he took upon himself all its responsibilities, also took to himself all its property and debts due to it ; and also expressly retained his claim for the £3000 which he had formerly advanced to the printing business, as a debt due to him by James Ballan- tyne personally. In this arrangement, therefore, Scott relinquished nothing, but kept his hold of every article of property, and of every claim which he had at the time. We are far from saying that he was wrong in doing so : on the contrary, the arrangement was prudent for all parties ; but still, in making it, Scott (as he says himself) must have been " unconscious of having made any extraordinary exertion " in James Ballantyne's be- half. On this footing matters remained from the beginning of 1816 to the formation of the new copartnery at Whitsunday 1822. During these six years, the firm of James Ballantyne and Company, as regarded the public, subsisted as before. But, as between the partners, the AND BALLANTYNE IN 1822. 63 whole stock of the company, the whole debts due to it, and the whole accruing profits of the business, belonged to Scott, while he was solely liable for all the debts and obligations of the concern ; and James Ballantyne's in- terest in it was limited to his yearly salary. Now, we pray our readers to observe, that at the end of this period, and when the new copartnery was en- tered into in 1822, it was ascertained that James Bal- lantyne and Company were under liability for bills ac- cepted or indorsed by that Jinn, and then current, to the amount o/thirty-six thousand pounds. Who was liable for the whole, or the bulk, of this enormous sum ? In the first place, and as regarded the holders of these bills, it is clear that both the partners of a subsisting firm were liable, in solidum (as the lawyers say,) for the whole amount. But, as between the partners themselves, it is equally clear that Scott was solely liable for it ; Ballantyne, on the other hand, being liable for the debt which was due to Scott in 1816, in so far as the debt remained undischarged, and also for any additional debt he might have contracted to Scott, by overdrawing be- yond the amount of his salary, or otherwise. We shall by-and-by enquire into the causes of the enormous amount of the company's liabilities in 1822 ; but the present point is, that at that period these liabi- lities, as between the partners, stood as we have just stated. And we have now to add, that this was most deliberately and explicitly admitted by Scott himself. This is established by the conditions of the new co- partnership — conditions which Scott himself suggested, or rather dictated, to his partner. This new copartnership became the subject of discus- sion in 1821 ; and after James Ballantyne had assented to the terms proposed by Scott, he (Scott) reduced these 64 MISSIVE LETTER OF 1821. terras to writing in the " Missive Letter," dated 15th June 1821, printed at length by Mr Lockhart in his Pamphlet, and also (on account of its importance,) in- serted in the appendix to these pages.* An acceptance by Ballantyne of the terms stipulated by Scott is sub- joined to this letter ; and it then was made the ground- work of a formal contract of copartnery, dated 1st April 1822, also described by Mr Lockhart, and printed at length in the Appendix hereto. Scott's missive letter is entirely in his own hand- writing, and bears internal evidence of complete know- ledge of the relative positions of himself and his partner, much thought and deliberation, and close calculation. It sets out by stating the situation of the parties in 1816, when Scott took the whole affairs of the printing- house upon himself— then shows what changes had taken place during the subsequent period, and what were their relative obligations to each other at the time of making this new agreement — and from these premises deduces the stipulations which he was then making. He begins by reminding Ballantyne of his (Scott's) having, in 1816, assumed the total responsibility for the expenditure and debts of the printing-house, including Ballantyne's salary as manager, on condition of his drawing the full profits ; which management, he adds, was to terminate at Whitsunday 1822, when the new contract was to commence. He then states, with great precision, the pecuniary obligations subsisting between Ballantyne and himself: " First, then, it appears from the transactions on our former copartnery, that you were personally indebted to me in the year 1816 in the sum of £3000, of which you have already paid me £1200, by assigning to me your share in the profits * Appendix, No. III. MISSIVE LETTER OF 1821. 65 of certain novels ; and as there still remains due at this term of Whitsunday the sum of £1800, I am content to receive in payment thereof the profits of three novels, now contracted for, to be published after this date of Whitsunday 1821. It may be proper to mention, that no interest is imputed on this prin- cipal sum of £3000, because I account it compensated by the profits of the printing-office, which I have drawn for my ex- clusive use since 1816 ; and for the same reason, such part of the balance as may remain due at Whitsunday 1822, when these profits are liable to division under our new contracts, will bear interest from that period. " Secundo, During the space between Whitsunday 1816 to Whitsunday 1822, I have been, lmo, at the sole expense of renewing- the whole stock of the printing-office, valued at £1700 ; 2do, I have paid up a cash credit due at the Bank of Scotland, amounting to £500 ; and 3tio, I have acquired by purchase certain feus affecting the printing-office property, for the sum of £375 ; which three sums form altogether a capital sum of £2575, for one-half of which sum, being £1287, 10s. sterling, you are to give me a bill or bond, with security if required, bearing interest at five per cent from the term of Whitsunday 1822. " Tertio, There is a cash credit in your name, as an indi- vidual, with the Royal Bank, for £500, and which is your proper debt, no part of the advances having been made to James Ballantyne & Co. I wish my name withdrawn from this obli- gation, where I stand as a cautioner, and that you would either pay up the account or find another cautioner." Our readers will observe that the above sum of £3000, stated against James Ballantyne as a debt due by him in 1816, was the amount of Scott's advances, at the rate of fifteen per cent, which have been already- spoken of; and that the cash credit for £500 with the Royal Bank, of which he wished to be relieved, was that which Ballantyne had obtained on commencing business in Edinburgh, and which Mr Lockhart so 66 CONTRACT OF COPARTNERSHIP. absurdly speaks of as having made a part of Ballantyne's stock in the original partnership. The missive letter proceeds : — " The above arrangements being made and completed, it remains to point out to you how matters will stand betwixt us at Whitsunday 1822, and on what principle the business is after that period to be conducted. " Primo, At that period, as I will remain liable personally for such bills of the company as are then current, {exclusive of those granted for additions to stock, if any are made subse- quent to this date, for which we are mutually liable, and ex- clusive also of such debts as ivere contracted before 1816, for which we are mutually liable,) I shall retain my exclusive right of property to all the several funds of the company, book- debts, money, bills, or balances of money, a?id bills in bankers' hands for retiring the said current bills, and indemnifying me for my advances; and we are upon these terms to grant each other a mutual and effectual discharge of all claims whatsoever arising out of our former contract, or out of any of the transac- tions which have followed thereupon, excepting as to the two sums of £1800 and £1287, 10s., due by you to me as above mentioned." It is then stipulated that the premises and stock in trade shall, after Whitsunday 1822, be held as joint property ; and that the profits of the business shall be equally divided. Several minute distinctions are laid down regarding the profits arising from works begun before the term of Whitsunday 1822, but not finished till afterwards, which show how " curiously" Sir Walter had considered the matter, and how attentive he was to every point in which his interest was concerned. Sir Walter then desires that the contract, in terms of these stipulations, should be drawn up by Mr Hogarth, writer to the signet, Mr Ballantyne's brother-in-law, a gentleman with whom, for a number of years, Sir Walter had been well acquainted. The postscript is remark- " statement" of may 1822. 67 able, as showing Sir Walter's earnest desire and solemn determination, that the arrangement thus entered into should be a complete and final settlement of all former transactions between the parties. " Mr Hogarth will understand," says Sir Walter, " that, though the mutual discharge of our accounts respectively, cannot be perhaps effectually executed till Whitsunday 1822 ; yet it is not our purpose to go back on these complicated transactions, being perfectly satis- fied with the principles of arrangement above expressed. So that, if it should please God that either of us were removed before the term of Whitsunday 1822, the sur- vivor shall not be called to account upon any other principles than those which we have above expressed, and which I, by the writing hereof, and you, by your acceptance, declare are those by which we intend these affairs shall be settled ; and that, after full consideration, and being well advised, we hereby for ourselves, and our heirs, renounce and disclaim all other modes of accounting ivhatsoever." James Ballantyne's acceptance, subjoined to the letter addressed to him, is in these words : — " I hereby agree to the propositions contained in the prefixed letter, and am ready to enter into a regular deed founded upon them, when it shall be thought necessary." The regular contract of copartnership, prepared by Mr Hogarth, was executed by the parties at Abbotsford, on the 1st April 1822. It is precisely in conformity to the stipulations in the missive letter, containing nothing besides but the clauses common to all deeds of this nature. When this deed of copartnery was executed, Mr Hogarth, who, at Sir Walter's request, had accompanied Mr Ballantyne to Abbotsford for that purpose, was (as he has informed us) desired by Sir Walter to draw up a statement respecting the arrangement of the affairs of 68 " statement" of may 1822. James Ballantyne & Co., and the personal transactions between Sir Walter and Mr Ballantyne, as they stood at the commencement of the new copartnery, and ac- cording to the stipulations in the contract ; and he was desired also to attend to the opening of a new set of books for the company, in order to see that all the entries, rendered necessary by the provisions of the con- tract, were properly made in the different accounts. These instructions Mr Hogarth complied with. The " Statement" drawn up by him was written out in du- plicate, and given to each of the partners ; and one of the copies, in his own handwriting, was found among Mr Ballantyne's papers. We print it entire in the Appendix.* This statement, in the first place, exhibits the state of the accounts between the parties, arising out of the arrangement as to their previous transactions. Mr Ballantyne is stated as debtor to Scott for the balance of the old debt of £3000 remaining due (as per the agreement), £1800 And for half the sums expended by Scott on the printing-office, . 1287 10 £3087 10 On the other hand, Ballantyne receives credit for the net proceeds of his share of The Pirate, in terms of the agree- ment, 562 18 4 Balance due by Mr Ballantyne to Sir W. Scott (for which Mr B. was to grant a bill or bond with security, if required), .... £2524 11 8 Mr Ballantyne is further stated as being due the sum * Appendix, No. IV. " statement" of may 1822. 69 of £1629 : 1 : 6, being the balance due on his cash- book, on 15th May 1822, at the close of his transac- tions under the old arrangement. " As this cash-book," says the statement, " was merely a state of transactions between Sir Walter Scott and Mr Ballantyne, the above balance is due to Sir Walter ; but, as it arose in a great measure from the accidental circumstance of the transac- tions, on the day they closed, having left a considerable sum in Mr Ballantyne's hands, which would speedily be extinguished by further transactions on Sir Walter Scott's account, the above balance is carried to the credit of Sir Walter, and the debit of Mr Ballantyne, in the books opened for the new concern." The statement then, with reference to the stipula- tion* in the contract of copartnery respecting the actual liability of the parties for the subsisting debts of the firm, divides these into debts for which Scott is liable — for which Ballantyne is liable — and for which the new company is liable : — " The actual liability for the debts at present subsisting-, and for which the firm of James Ballantyne & Co. is responsible, and the right to the current funds of the company, stand tbus : — " Sir Walter Scott is liable for the whole amount of Bills Payable, excepting a bill granted for printing-ink subsequent to the 15th June 1821, (the date of the missive letter,) for which the new concern is liable. " And Sir Walter, on the other hand, is entitled to the whole Bii/Ls receivable which have not yet been negotiated, or which are deposited with Sir W. Forbes & Co., and to all the book-debts and balances due to the company upon accounts. " Of these debts due by and to Sir Walter Scott, a list is to be made up in terms of the contract. « Mr Ballantyne is actually liable for the following debts :— " To the Royal Bank £500. * See clause in missive letter, ante, p. 66. 70 " memorandum" of april 1823. " To Miss Campbell and Captain Mackenzie £400. " Of which he is bound to relieve Sir Walter Scott when required, " The parties mutually (or in other words, the new concern of James Ballantyne & Company) are liable for the following, as having been contracted prior to 1816 : — " To Messrs Bowie, heritably secured over the property in Paul's Work (balance), - £425 (This debt is in course of being paid up.) " To Mr Gibson, per bill, - - 400 (This is wanted up.) " To Sir William Forbes & Co., per bond, 800 0." The statement then explains the way in which, in these circumstances, the books of the new company were opened : — " In opening the books of the new concern, those debts only are entered for which the parties mutually, or the concern, are liable ; and, on the other hand, the only property entered in the new books as belonging to the company, consists of the heritable subjects in Paul's Work and Foulis' Close, and the printing-house effects. " All the current funds, or debts now due to the company, as they belong to Sir Walter Scott, will, when received, be placed to his credit in account with the company : and all the debts for which he is liable will, tvhen paid, be placed to his debit." The statement concludes by giving a list of the works in progress at Whitsunday 1822, specifying those of which the profits should belong to Sir Walter Scott, and those which should belong to the parties mutually. The books of the new copartnery, kept in the man- ner above described, were brought to a balance at the end of the year, under the superintendence of Mr Ho- garth, according to whose directions they had been opened. The books were then laid before Sir Walter " memorandum" of apiiil 1823. 71 Scott, with the balance-sheet, and other documents to be immediately mentioned — accompanied by an expla- natory "Memorandum as to James Ballantyne & Co.'s accounts," dated 17th April 1823. We have recovered the memorandum, in Mr Hogarth's handwriting ; and there can be little doubt that a paper, containing so full and distinct a view of Sir Walter's affairs, in connexion with those of James Ballantyne & Co., must have been preserved by him. We print it at length in the Ap- pendix.* This memorandum sets out by stating, that " There are now laid before Sir Walter Scott the books of James Ballantyne and Co., closed and balanced to 31st De- cember 1822, with a balance- sheet ; and there are also laid before him the following accounts and states : — " 1. Account current, Sir Walter Scott with J. B. & Co., from 15th May to 31st December 1822. « 2. Continuation of ditto, to 17th April 1823. " 3. States of Sir Walter Scott's bills payable, bills receiv- able, and outstanding accounts for printing - , at 17th April 1823. " 4. View of proceeds of printing for the year from 15th May 1822, to 15th May 1823. " 5. Note of discounts paid on Sir Walter Scott's account, from 15th May 1822, to 17th April 1823." Our readers will observe from this " Memorandum," the precision with which the obligations for which the company's firm was liable, were discriminated into those which actually belonged to Sir Walter Scott personally, and those which belonged to the company. Sir William Forbes & Co., the bankers, were in the practice of making advances to James Ballantyne & Co. on bills payable to the firm, and deposited in their hands, The balance due to Sir W. Forbes & Co., on their current * Appendix, No. V. 72 «' MEMORANDUM" OF APRIL 1823. account of these advances and deposits, at 15th May 1822, of principal, was, . £3391 18 3 But of this sum there was due by the company, being the amount of their bond of cash credit, . £800 And the remainder consisted of advances on bills belonging to Sir Walter Scott, 2591 18 3 £3391 18 3 " Sir Walter Scott, therefore," adds the memorandum, "was due to Sir William Forbes & Co. £2591 : 18 : 3, and the company was due L.800 ; and so they are re- spectively stated." After a variety of other explanatory statements, (for which we refer to the document itself,) the memorandum gives the following — " STATE OF DEBTS DUE BY AND TO SIR WALTER SCOTT. " The amount of bills payable now current, and to be provided for by Sir Walter Scott, . . £33,954 11 3 " Amount of bills receivable is L.6097 18 1 " Outstanding printing accounts, 488 9 9 " Balance on Sir Walter Scott's account, . . 2025 14 2 £36,007 5 5 " Sum due by James Ballan- tyne, for which he has granted an assignation of his life policy of insurance, . £2524 11 8* . 9110 19 6 " Balance, £26,896 5 11 " There is also Sir Walter Scott's proportion of profits on See the particulars of which this sum is composed, ante, p. 62. " memorandum" of april 1823. 73 printing to be placed to his credit in account with the com- pany, and one-half of the stock of the company. " DISCOUNTS PAID. " The amount of discounts paid on Sir Walter's account from 15th May 1822, to 17th April 1833, being eleven months, is £1146 : 19 : 3. Besides which, there is the ex- pense of exchanges and stamps on remittances to Messrs Cur- rie [the bankers in London], and bill stamps." In speaking of this memorandum, or vidimus (as such papers are frequently called by Scotch men of business,) of 17th April 1823, Mr Lockhart says, p. 78:— "I beg to observe, that the vidimus of 1823 is not signed by either Scott or Ballantyne. I would therefore be entitled at once to throw it entirely overboard, as in no way bind- ing upon Scott. It is said to be in the handwriting of Mr Hogarth, and very probably was some draft or rough sketch made up by him. But, unauthenticated as it is, it is literally worth nothing." One would sup- pose, from Mr Lockhart's thus talking of what the paper in question probably was, that he knew nothing of it but what he had learned from our former pamphlet. But he admits in the next sentence, that he had it before him, as it had been produced to him by us on his requi- sition. Being thus well acquainted with its nature and contents, it is an absurdity on his part to talk of throw T - ing it overboard because it was not signed by Scott or Ballantyne. Had it been a bond, or a contract, on which we were attempting to found an action at law, this way of talking would be intelligible. Even had a copy of it been found among Scott's papers, (which ought to have been the case, though Mr Lockhart says it was not,) it would, according to Mr Lockhart's criterion, have been of no greater authority than the draft preserved among the papers of the gentleman who had framed it. 74 MEMORANDUM OF APRIL 1823. That gentleman, at Sir Walter's own request, had acted as agent for both parties during the whole of the busi- ness to which it relates. It was by no means a " rough sketch," as Mr Lockhart calls it, but a full and complete statement, most carefully drawn up, of the relative situa- tion, as to money matters, in which the partners of the company stood towards each other, expressly for the in- formation of Sir Walter ; and it bears evidence, in the first sentence, that it was " laid before Sir Walter Scott," with all the books, accounts, and states, to which it refers. This paper, with the accompanying docu- ments, must either have been laid before Sir Walter, as stated in the paper itself, or it must have been the result of some amazingly deep-laid plan between Mr Bal- lantyne and Mr Hogarth, and concocted between them, not for the purpose of being laid before Sir Walter, but of being put aside among Mr Hogarth's papers, in order that it might start up at some distant period, and on some occasion such as the present. One or other of these alternatives Mr Lockhart must adopt, for even his inge- nuity will hardly light upon a third. He is welcome to his choice : we have no apprehension as to the choice of our readers. But, even were this memorandum or statement of the 17th April 1823, to be laid aside altogether, Mr Lock- hart's case would not be greatly mended. That paper certainly shows the exact amount of the bills payable, for which the firm of James Ballantyne and Company were liable at the time it was drawn up, and which were chargeable against Sir Walter Scott ■personally, accord- ing to the terms of his own missive letter, which was the basis of the contract of 1822 ; but it is by no means ne- cessary for our case to establish the existence, at that time, of his liabilities to such an amount, for in less than three years, in consequence of the bankruptcy of all the ACCUMULATION OF BILLS. 75 parties concerned, their affairs passed into the hands of trustees ; a strict investigation of all their transactions, of course, took place; and statements were made up of all their debts and liabilities of every sort. Now it turns out, tbat, on the 16th January 1826, the date of the bankruptcy, the amount of bills payable, for which James Ballantyne & Co. were liable, stood as follows : — Amount of James Ballantyne and Company's acceptances to Constable & Co. £29,624,11 3 Amount of Sir Walter Scott's acceptances to James Ballantyne and Company, and dis- counted by them, £16,272 19 10 £45,897 11 1 This fact, at all events, Mr Lockhart will hardly deny ; should he think of doing so, he had better, in the first place, look into the accounts of the trustees under the bankruptcy. But should he attempt to deny that bills payable, for which Sir Walter Scott, by the terms of his own agreement, was exclusively liable, existed (after deduction of what was due to him by James Bal- lantyne) to the amount of £27,000 in April 1823— then he must admit that the above enormous mountain of liabilities, was reared in the short space of less than three years ! If these liabilities of Sir Walter Scott's at the time of the bankruptcy amounted to nearly £46,000, could they have amounted, within three years before, to less than £27,000 ? Even as it is, the in- crease, during that short interval, was no less than £19,000 ; an increase which, as we shall see presently, corresponds with the liabilities subsequently undertaken by the company on Sir Walter's account. Mr Lockhart (Pamphlet, p. 81) accuses us of having been " pleased to invent the fable, that the debt assumed by Sir Walter in 1816, was a debt of his own private 76 DEBT OF 1816. contracting." And immediately afterwards, speaking of the arrangement in 1822, he asks — " Where is there a tittle of evidence to show, that, because Scott took upon himself certain company debts, he thereby acknow- ledged these company debts to have been contracted for his own personal accommodation ?" — " He never dreamt," adds Mr Lockhart, " of making any such ac- knowledgment — and it was not the fact." Now really it appears to us very plain, that the cir- cumstance of Scott's having, in 1822, taken upon him- self these company debts, is perfectly equivalent to an acknowledgment that they had been contracted for his personal accommodation. Why else would he have taken them upon himself? Do the terms of the missive letter of June 1821, so carefully drawn up by Scott himself, indicate any intention to release James Ballan- tyne from any debt for which he would have otherwise been liable ? Far from it. On the contrary, Scott is most careful to fix upon James Ballantyne the whole amount of the liability which, by Scott's own statement, then attached to him (Ballantyne) in consequence of their previous transactions. In this missive letter, Scott sets out by reminding Ballantyne that, in 1816, he (Scott) had assumed the total responsibility for the whole of the printing-house expenditure and debts, including Ballan- tyne's salary as manager ; and that, accordingly, Bal- lantyne had agreed that he (Scott) should draw the full profits ; on which footing the business was to continue till Whitsunday thereafter, 1822. Scott then states with precision Ballantyne's personal debt to him in 1816, with the manner in which it had been reduced from £13,000 to £1800. He further specifies the sums which he had expended on account of the printing-office since 1816, one-half of which he charges against Ballantyne : and, having thus fixed the amount of Ballantyne's perso- DEBT OF 1822. 77 nal debt to him, he makes strict provision for its security and liquidation. He then proceeds thus : — " At that period (Whitsunday 1822,) as I will remain personally liable for such bills of the company as are then current, (exclusive of those granted for additions to stock, if any are made subsequent to this date, for which we are mu- tually liable, and exclusive of such debts as were con- tracted before 1816, for which we are also mutually lia- ble,) / shall retain my exclusive right of property to all the current funds of the company, book-debts, money, bills, or balances of money, and bills in bankers' hands for relieving the said current bills, and indemnifying me for my advances ; and we are, upon these terms, to grant each other a mutual and effectual discharge," &c. Observe, now, the circumstances of these transactions, according to Scott's own account of them. When Scott, in 1816, assumed the responsibility for the debts of the printing-house, the debts which he thus took upon himself were not the proper debts of that con- cern, but the liabilities which it had incurred in conse- quence of its involvement with the bookselling house : which liabilities, as we have already shown, occasioned the difficulties of the printing concern. Scott took upon himself these liabilities, because he had undertaken to wind up the affairs of the bookselling house, by paying off its debts out of the proceeds of its stock ; which, as we have seen, he completely accomplished ; and then the liability of the printing-house for those debts was extinguished along with the debts themselves. That Scott did not, in 1816, assume the responsibility for the proper debts of the printing-house then subsisting, ap- pears from the clause in the missive letter just quoted, in which he declares that the bills of the company for which he will remain personally liable, are exclusive of those granted for additions to stock, and " exclusive 78 DEBT OF 1822. also of such debts as were contracted before 1816, for which we are also mutually liable." What Scott did, then, was this ; — As he took upon himself to clear off the liabilities in which the printing-office had become involved in connexion with the bookselling house, he also assumed the sole control of the printing concern, and took upon himself its future debts and expenditure, as well as its profits ; but he left the proper debts of the concern, previously contracted, to remain, as before, a burden upon himself and James Ballantyne jointly. The proper debts, at that period, of so lucrative and thriving a business, could not have been great ; and ac- cordingly we see, from the " Statement," drawn up by Mr Hogarth at the commencement of the copartnery in May 1822, that the debts contracted prior to 1816, for which Scott and Ballantyne were mutually liable, amounted to £1625, as particularized on p. 70. It thus appears that Scott, while he declares, by the missive letter of 1821, that he shall " remain personally liable" for such bills of the company as are then current, is careful to specify James Ballantyne's liability (exclu- sive and mutual) for every item that belonged to him. Ballantyne is declared to be liable for the balance of the personal debt which was due by him in 1816, and for one-half of the various sums which Scott had expended on account of the printing-office ; and he is declared to be mutually liable, along with Scott, for the proper debts of the company contracted before 1816. Scott, on the other hand, declares that he shall retain his " exclusive right of property to all the current funds of the company, book-debts, money, bills, or balances of money, and bills in banker's hands for relieving the said current bills, and indemnifying me for my advances." Now, will any rational being believe that Scott, in making this bargain with James Ballantyne — while he WAVERLEY NOVELS. 79 «o sharply regarded his own interest, not only in respect to Ballantyne's liabilities exclusive and mutual, but in regard to the stock and property of the company, and even the exact division of the profits on various works on hand — was at the same time gratuitously releasing Ballantyne from his share of an immense amount of company debt, and taking the whole weight of it upon his own shoulders ? Mr Lockhart would have it that Sir Walter acted gratuitously in providing James Ballantyne with the means of paying off the debt of £3000. " Must not these trustees themselves," he says,* "when confronted with the evidence now given, admit that those arrange- ments were most liberal and generous ? Scott, * the business being in difficulties,' takes the whole of those difficulties upon himself. He assumes, for a prospective series of five or six years, the whole responsibility of its debts and its expenditure, including a liberal salary to James as manager. In order to provide him with the means of paying a personal debt of £3000 due to him- self — and wholly distinct from copartnery debts — Scott agrees to secure for him a certain part of the proceeds of every novel that shall be written during the continu- ance of this arrangement. With the publishing of these novels James was to have no trouble — there was no risk in them — the gain on each was clear and certain — and of every sum thus produced by the exertion of Scott's genius and industry, James Ballantyne was to have a sixth, as a mere bonus to help him in paying off his debt of £3000 ; upon which debt, moreover, no interest was to be charged. In what respect did this differ from draw- ing the pen, every four or six months, through a very considerable portion of the debt ? Scott was under- * Pamphlet, p. 71. 80 JAMES ballantyne's share in them. taking neither more nor less than to take the money out of his own pocket and pay it regularly into James's, who had no more risk or trouble in the publication of those immortal works than any printer in Westminster." Our answer to this absurd reasoning shall be short. We readily admit, that with " the publishing of these novels James was to have no trouble ;" that " there was no risk ;" and that " the gain on each was clear and certain." But we deny that Scott, in securing to his friend the advantage resulting from a share in the novels, " was undertaking neither more nor less than to take the money out of his own pocket and to pay it into James's." The assertion is particularly absurd. Scott was placed in no worse a position by Ballantyne having an interest in these works, than he would have been had the whole belonged to Constable & Co., for James held his share on precisely the same terms that they did. On the contrary, Sir Walter was a gainer by the arrangement, and in it he consulted his own in- terest quite as much as he did that of his friend. He could not with decency have bargained for a share of the profits of works which he had sold to others ; but, when he gave James Ballantyne a one-third share of the works in question, on the same terms as he disposed of the other two-thirds to the publishers, he allowed James to retain only one-half of that share, appropriating the other half to himself. This was certainly a benefit to James Ballantyne, but no mighty stretch of generosity on the part of the author, who, as we have said, gained, instead of losing by it. It was in the same manner that he re- munerated John Ballantyne for his services, down to the period of his death, in negotiating all the transactions between the author of Waverley and his publishers. To return to the missive letter of June 1821. When Sir Walter Scott, by this instrument, declared that he MISSIVE LETTER OF JUNE 1821. 81 was to remain personally liable for the bills of the com- pany which should be current at the commencement of the new copartnery — Mr Ballantyne being liable to him for certain debts particularly specified — he did so, not from some motive of romantic generosity totally irre- concilable with the whole tenor of the transaction, but because he knew that the engagements, for which he thus declared his own personal liability, had been con- tracted on his own personal account. He knew, moreover, the amount of the engagements contracted on his account prior to the commencement of the new copartnery, for which he thus acknowledged his own personal liability. This fact Mr Lockhart labours hard to get rid of, feeling that it is fatal to his case ; and his only resource is, to endeavour to make it appear that Scott, during the whole period preceding the arrange- ment of May 1822, remained in a state of total ignorance, not only of the business of the printing-office, but of his own most important pecuniary affairs. " During this period," says Mr Lockhart,* " Scott, on his part, con- tinued, as of old, too much occupied with his own romantic creations to have time for minute scrutiny of his commer- cial affairs!" Mr Lockhart, we believe, has, in the course of his biography, pretty well convinced the world that Scott's poetry and romance never stood in his way when matters of business were concerned. We have already shown that Sir Walter was precisely informed as to the amount of the engagements of the company for which he acknowledged himself personally liable in 1822. This is sufficient for our case : but we shall further show that he was well aware of these engagements on his account, and of their gradual accumulation, during the whole period of their contraction. * Pamphlet, p. 64. 82 JAMES BALLANTYNE's " MONITOR." Mr James Ballantyne kept a " Monitor," or daily memorandum-book, in which he entered his bill transac- tions and other pecuniary engagements which required to be particularly attended to. We have printed in the Appendix * some extracts from this book, which will afford an idea of the manner in which the bills for which James Ballantyne & Co. were liable, were kept afloat ; and will show, not only Scott's cognisance of these trans- actions, but his share in attending to and managing them. We refer to these extracts themselves, every one of which bears upon the point at issue. But we may here notice a few particulars, as a specimen of the whole ; and we may add that the book contains many other entries of a similar kind. On 12th July 1816, it is noted that Scott himself had furnished James Ballantyne with a note of demands and means to meet them. On 15th September 1816, James sends Scott a list of bills due to the 17th of the following month, amount- ing to £5171, and a note of means to provide for them in part. On 27th May 1818, James Ballantyne and Company borrowed from Mr Cowan £1000 ; and James sent Mr Scott £1300. March 29, 1819. — A statement of an accommodation transaction between Constable & Co. and Scott : Con- stable Co. giving him their bills, and receiving, in compensation, bills of James Ballantyne $* Co. to the same amount : also of two promissory-notes by James Ballantyne & Co. to Scott All these bills and notes sent to Messrs Coutts & Co., in a letter to Mr Scott. April 17, 1819 A note of bills granted by John Ballantyne to Walter Scott, Esq., without value, (to be * Appendix, No. VI. JAMES BALLANTYNE'S "MONITOR." 83 entered in James Ballantyne and Company's books,) amounting to £1610. April 19.— Sent Mr Scott the preceding note of bills ; and also a note of bills due in the month of May, amounting to £5457. May 30, 1819 Sent John Ballantyne, by desire of Walter Scott, Esq., bills amounting to £1158,/or which John is to find cash. June 3, 1819 Received a letter from John Ballan- tyne at Abbotsford. Scott had examined the bill account, and found all right and intelligible, except one parti- cular, of which he desires an explanation. Explanation sent. July 26 Sent Mr Scott state of demands and pro- vision for the ensuing month. Feb. 14, 1820.— Meeting at Trinity [John Ballan- tyne's house], Scott present; and provision made for next month's engagements, amounting to £5685. August 20, 1820 Sent, for discussion, state of ways and means. Demands, £8930. Means, £9257. It will be observed, that these means consisted (all but a sum of £600) of Constable & Co.'s bills for new works. These bills having been discounted by Ballan- tyne & Co., and never retired by the acceptors, but kept afloat by renewals after renewals, formed at last a part of the mass of similar engagements, which, on the failure of the publishers, fell upon Ballantyne & Co. October 31, 1820 A letter from James to John Bal- lantyne, in which he expresses his alarm on account of the many bills he had paid for Sir Walter Scott on verbal orders or mere notes not preserved, concludes with the following very striking passage, which, from the interpretation Mr Lockhart has put upon the trans- actions between Sir Walter Scott and Mr Ballantyne, seems to have been dictated by a spirit of prophecy : — 84 SCOTT COGNISANT " But even yet, I am sure, there are some of his transac- tions which I am called upon ultimately to pay, which have never appeared in my books, and which, if rigidly scrutinized, woidd make an ignorant accountant like me stand upon character alone. Many is the hour's vexation and alarm this gives me" March 21, 1822 — Sent off state of demands and means for April. Demands, . £11,530 Means, [all accommodation bills ex- cept £1200,] . . £9883 Deficient, . . . 1647 11,530 Similar states entered on 6th July 1822, 25th March, and 21st April, 1823. Should the evidence derived from these entries made by James Ballantyne, in a book kept by him for the sake of his own correctness and regularity, at the time the transactions took place, be deemed notquite sufficient, we shall corroborate it by means of letters from Scott him- self to James Ballantyne, which are also printed in our appendix.* We pray our readers to peruse the whole of these, as every one of them bears upon the point. They extend over the period from 1816 till after the formation of the copartnery in 1822 ; and show, during all that period, the vigilant closeness with which Scott exa- mined and considered the whole of the transactions in question, his thorough knowledge of all their details, and the leading part he took in their direction and control. Observe, in particular, the detailed letters and calcu- lations sent by him to James Ballantyne in July and August 1819, with the view of providing for the large amount of bills falling due in the latter of these months : * Appendix, No. VII. OF ALL ENGAGEMENTS. 85 his precise directions on the subject ; and his notice of James Ballantyne having, in his statement, omitted two of the bills to be provided for. " I enclose a scheme founded on yours" he writes to James Ballantyne, " and as I trust you have already John's additional £300, and the bills, of which I desire an exact memorandum without delay of a post, I think I have arranged the provision on the worst supposition, i. e. your having, as I strongly sus- pect, missed out Veitch's bill." Remark, too, his in- junction not to renew two bills of Constable's, because they had been granted for stock of John Ballantyne & Co., which Constable had taken along with the second Tales of my Landlord, and the stipulated credit was out. " But," adds Scott, " if Messrs Constable want any accommodation of the same kind which they very frankly grant us, you will, of course, be ready to oblige them." Now this system of mutual accommodation be- tween Scott and Constable & Co., was the main cause of the subsequent catastrophe. In his letter of 2d August 1819, Scott, after specify- ing funds to meet demands of above £2000, says : — " / have no doubt of realizing all these funds, except Cowan, whom you must take in hand, i" tcill draw the bills on Constable myself, and advise them by to-morroid' s post ; meanwhile please to give them up those in your hands." In November 1820, Scott writes : — " I wish you would meet me in Castle Street at one to-morrow. I have to speak about my land payments." Observe Scott's letter, in the same year, in which, after pointing out funds forthcoming at Christmas to the extent of £12,000, he says, " My own powers of helping, unless in a very hard pinch, are not great just now, being pretty deep in all my banks. It is whimsical enough to be pressed, with £8000 certain in less than three weeks' time. It will be necessary to see each HG SCOTT COGNISANT other, (John also, were it possible,) to get all these matters overhauled for the September payments? In the next letter, belonging to the same period, after some minute remarks on the state of the bill transac- tions, Scott says : — " In calculating the means for Sep- tember, do not forget that you have to repay Mr Ho- garth ; also to repay any advance which may be made this month for temporary purposes. It is necessary to look very close to this, because September falls heavy, and all our means have been in active exercise? In a note to Ballantyne, written in 1821, Scott says :— " / cannot reconcile your State for May with my Book. There are about £10,000 or under in my book— add wages, &c, £500. To pay this sum of £10,500 There is a new affair [a new novel for which the publishers' bills had been received] £3500 Printing Nigel, and copies, at least 2000 5500 Leaving only .... £5000 " This balance, you will always observe, must be minus any P. O. [printing-office] bills which you get in ; and I suppose the Romances and other things will be out in May. " I enclose a bill of Constable's (actual) for £1000, of which I shall send the contents about the middle of May ; but send it in time." Observe that Scott here points out funds to meet en- gagements for a single month — May — to the amount of Ten Thousand Pounds, which are in his book. Observe, too, his distinction between an actual bill of Constable's (or a bill of value,) and the accommodation bills of that firm. OF ALL ENGAGEMENTS. 87 On the 15th September 1822, Scott writes Ballan- tyne respecting the engagements for that and the follow- ing month. " For October," he says, " my plan is as follows :" and then he proceeds to provide for Twelve Thousand Pounds of engagements for that month, by setting against them, in the first place, funds to the amount of £6000, partly belonging to himself and partly to the company — or, in other words, bills to be granted for the copyright and printing of Peveril of the Peak ; the remaining £6000 to be provided for by " managing" a quantity of accommodation bills, got up for the oc- casion between Constable, James Ballantyne & Co., and himself. He adds : " Let me know what you say to this scheme, which seems to me plausible. I have so little personal debt of any kind, that I really have no fear of getting what sum may be wanted. The banks are obviously desirous to prevent such frequent renewals of large sums, and we must contrive to trouble them less." What he means by having " so little personal debt of any kind," is very evident. It is, that hitherto the great mass of engagements had been incurred in the name of James Ballantyne & Co. : and that his own personal credit, which with bankers was yet compara- tively fresh, would now be available for raising money. There are two other notes of about the same period which are worthy of attention. In the first Scott says, " I return the bills, and, in computing actual debts, will chalk off the incumbrances of March and April. Please to mark in my book those bills which are only cautionary for other discounts." In the other he says, " I inclose the bills : be cautious to fill up the dates with ink of the same description, for bankers look sharp to this." This shows how sharply he looked to these things himself. He also says : " I wish you always to keep your eye on our weekly settlements, andnever (sic inMS.)to depart from 88 SCOTT COGNISANT them without mentioning the reason, otherwise you must be aware they go for nothing." On 1st Nov. 1822, Scott writes thus : " I do not un- derstand if you reckon on the proceeds of Peveril as part of the month's funds : it will certainly be out. Nor do I know if you compute your own input, but I con- clude you do. That some of Constable's bills should be granted payable to me, and indorsed by me to you, seems an unexceptionable mode of passing them. The other may be drawn as you propose. / icill keep my eye on the assistance you want in February or March ; but I will have my new affair out in January." " I have £2500 to pay this season — last instalment of land. For this I have £1500 provided ; but I shall want a bill of yours for £500, and of Constable's for the like sum, at three and four months, which I can easily make avail- able. Our readers having gone through this evidence, under Scott's own hand, of the predominant part taken by him- self in the management of these matters, we may now venture to ask them what they think of Mr Lockhart's nourish about Scott's being " too much occupied with his own romantic creations to have time for minute scru- tiny of his commercial affairs ?" There is another article of evidence on this point, which it does not suit Mr Lockhart's views to render available to us. Fortunately we can do without it : but we cannot pass it over, as it very strongly illustrates the spirit in which Mr Lockhart carries on this contro- versy. Our readers have observed that Scott, in the above correspondence, occasionally refers to a book in his pos- session in which these bill transactions were entered. " I cannot reconcile your state for May with my bookP 11 Please to mark in my book those bills," &c. In our OF ALL ENGAGEMENTS. 89 former pamphlet we inserted a letter from one of our number, Mr John Hughes, to Mr Cadell, Mr Lock- hart's publisher, written for the purpose of pointing out to Mr Lockhart, through the medium of that gentleman, the incorrectness of his statements while yet it was not too late for a candid man to correct them. In that let- ter, Mr Hughes, after noticing Mr Lockhart's assertion that " Sir Walter never knew the amount of ' primary bills' and * counter-bills,' for which he was liable as the unseen partner of the Ballantynes," — says : — " Now, the fact is, that Sir Walter ivas cognisant of all these hills. Once every month Mr Ballantyne wait- ed on Sir Walter, (or if he was in the country he wrote to him, or went to Abbotsford personally,) with a state- ment of the bills that fell due in the succeeding month, and they conjointly settled on the means by which they were to be met, which uniformly was by bills of a cer- tain amount drawn on Constable & Co., and by a cer- tain sum in Constable's promissory-notes to Sir Walter Scott. James Ballantyne & Co. granted counter-bills on Constable & Co. for these bills and notes ; and of all these obligations Sir Walter kept a regular account in a book of his own, [a royal 8vo bound in red morocco.) This matter was no further under James Ballantyne's management than as he was the mere instrument in get- ting the bills discounted." A short time before the publication of Mr Lockhart's pamphlet, some correspondence took place respecting the documents relating to Sir Walter Scott's transac- tions as connected with James Ballantyne & Co., in the course of which we requested to have access to the book which has just been mentioned. In a letter to Mr Cadell, dated 13th November last, in answer to a demand on his part for the production of some documents, we said ; " While we are anxious to give every information in H 90 SIR WALTER SCOTT's our power to Mr Lockhart, we expect that he will be equally communicative to us; and we therefore request to have access to the book kept by Sir Walter Scott, connected with the bill transactions with Constable ik Co., and referred to in Mr Hughes's letter to you of 26th October 1837." Mr Cadell's answer was; "I shall submit your wishes to Mr Lockhart, and I have no doubt he will do with the matter what is proper." To produce the book in question, it would appear, did not seem proper in Mr Lockhart's eyes — which is not surprising ; — but, while he ivithheld it from us, he thus spoke of it in his pamphlet : — " I have seen the red book which passed to and fro between Sir Walter and the counting-house, and which was so little of a private de- scription that it was known to the partners' clerks. I Avent over it line by line, and I assert that there is not one jotting in Sir Walter's handwriting — not a single mark of that from the first page to the last. Surely there is gross unfairness in representing this public bill- book, to which all had access, as if it had been a private record in Sir Walter's own handwriting, and therefore tending to show that the bills had been private trans- actions of his own, which he entered in the same man- ner for his own private satisfaction as he did his personal expenditure." This is too bad ; but it is of a piece with Mr Lockhart's whole conduct in this affair. When did we ever talk of this book being in Sir Walter Scott's own handwriting ? We said that Sir Walter kept a regular account of all these bill transactions in a book of his own; or, in other words, that they were regularly entered, for his information, in a book which belonged to him, and was kept in his possession ; it being regularly sent by him to James Ballantyne for that purpose, and imme- diately returned with the necessary entries made in it. In Mr Lockhart's own phrase, " it passed to andfrobetweeri BILL-BOOK. 91 Sir Walter and the counting-house." This statement we now repeat — and we add, that Mr Lockhart, having the book in his possession, knows it to be true. We also repeat that the book was a private book, and that the only individual in the printing-office, besides Mr Ballantyne, who was cognisant of its contents, as well as thoroughly and confidentially acquainted with all the transactions in question, was Mr Hughes, his valued and trusted friend. Scott, as we have seen, refers to this book in his letters to James Ballantyne ; and Mr Lockhart's own admission (though he does not so in- tend it) is sufficiently conclusive as to its nature. Mr Lockhart, however, now finds it necessary to shift his ground from that which he originally took, upon this subject. In the Life he affirmed that Scott was ignorant of the amount of these immense liabilities ; — in the Pamphlet he denies that he ever said so ! "I never asserted" he says,* " that Sir Walter was not made acquainted with the bills ; and I was far from saying that he did not see, or might not have seen, monthly states of these current obligations: what he was kept ignorant of was, not the granting, but the application of the proceeds of the bills, and the manner in which James Ballantyne was squandering these proceeds." This asseition Mr Lockhart ventures to make, after having penned the following passage in the sixth volume of the Life : — " How strange that the man who could persist, however mechanically, in noting down every shilling that he actually drew from his purse, should have allowed others to pledge his credit, year after year, upon sheafs of accommodation paper, the time for paying which up must certainly come, without keeping any efficient watch on their proceedings ; — without knowing, any one Christ- mas, for hoio many thousands, or rather tens of thousands^ * Pamphlet, p. 105. 92 MR LOCKHART SHIFTS HIS GROUND. he was responsible as a printer in the Canongate /" The juxtaposition of these two passages is quite sufficient, without a word of comment ; and, indeed, would justify stronger language than we care to use. Mr Lockhart now admits Scott's knowledge of the obligations in question ; but we have proved a great deal more than mere knowledge — we have proved his close attention to all these transactions, his strict scrutiny of the state of his obligations, and his superintendence and control in their " management." How will this know- ledge, scrutiny, and control, square with Mr Lockhart's new hypothesis on the subject ? Sir Walter Scott, it is now admitted, was not kept ig- norant of the bills of James Ballantyne & Co. " What he was kept ignorant of was not the granting, but the appli- cation of the proceeds of (he bills, and the manner in which James Ballantyne was squandering these proceeds !" Does this absurdity require a serious answer ? Will any one in his senses believe that Scott, with this enormous and daily increasing mass of bills, for which he was responsi- ble, constantly before his eyes, never once dreamt of their application — never once considered for what purpose they were granted ? Will any body imagine for a moment that Scott, after planning so carefully the means of meeting engagements, amounting, as we have seen, to ten thou- sand pounds or upwards in a single month, should dis- miss the matter from his mind, and return to " his ro- mantic creations," without once troubling himself to en- quire whether the resources, which it cost him so much trouble and anxiety to provide, were applied to necessary purposes, or whether they merely furnished funds to be squandered by James Ballantyne ? Mr Lockhart's next resource is to endeavour to make it appear that Scott had no occasion to use the firm of James Ballantyne and Company, in order to raise money scott's literary profits. 93 for his own purposes, because " there were personal resources at his command, out of which the price of his land and the expense of his household could be paid." * These resources, according to Mr Lockhart, were Sir Walter's private fortune, his official income, and his profits as an author. The first and second of these heads may be dismissed in three words. Scott had very little private fortune ; and his official income, by Mr Lockhart's own statement, did not exceed £1600 a-year, a mere nothing when talked of as supplying his enormous expenditure. As to his literary profits, though they make an im- mense figure on paper, they were, during the latter part of his career, in a great measure illusory. They con- sisted of bills granted by Constable & Co., a great many of which were never paid. When they became due, they were renewed over and over again ; and at last, when Constable & Co.'s crash came, an immense mass of these bills for literary profits realized a dividend of one shilling and threepence per pound. The money that could be got upon these bills from the bankers, was used in keeping afloat the general mass of engagements, which mass of engagements, accordingly, they contri- buted to swell. A single passage of Mr Lockhart's own speaks volumes on this subject.* " Before the Fortunes of Nigel is- sued from the press, (which was in 1821,) Scott had exchanged instruments, and received his booksellers' bills for no less than four * works of fiction,' — not one of them otherwise described in the deeds of agreement — to be produced in unbroken succession, each of them to fill at least three volumes, but with proper saving clauses as to increase of copy-money, in case any of them run to four." Was such a monstrous anticipation of literary * Pamphlet, p. 93. f Li fe> vol. v., p. 149. 94 SCOTT S LITERARY PROFITS. profits ever before heard of? And what could have led to a course of proceeding so unprecedented, so recklessly- imprudent, and so full of peril both to the author and publisher ? What could have induced Scott to resort to it, but the desire to procure the supplies necessary to meet his own exigencies — to enable him to pay the price of great tracts of unproductive land — to furnish the means for the princely hospitalities of Abbotsford, and to defray the ruinous expenses of his modes of raising money ? It will not be pretended that it was not Scott himself who transacted with his publishers for four un- written novels at a time ; and if it was Scott himself who dictated to his publishers such extraordinary trans- actions, by which he stipulated to receive bills for be- tween twenty and thirty thousand pounds for works, not only before a line of them was written, but before their very names had been even imagined, is it likely, we again ask, that he should have never bestowed a thought upon what became of these bills when received, but have quietly allowed them to be swallowed up in the gulf of James Ballantyne's extravagance ? These bills, and many others of the same kind, not only turned out no better than waste paper, but much worse ; for they aggravated the amount of embarrass- ment which Scott brought upon himself. He could not require his publishers to enter into these extraordinary transactions, involving so much present loss and future hazard, without giving them something by way of equi- valent. Independently of the loss and danger, too, Constable & Co.'s resources, and means of carrying on their own transactions, were obviously much affected by the quantity of their paper thus given to Scott, and thrown by him into circulation ; and they were entitled to say, " As we, for your accommodation, have given you such a quantity of our paper for remote and uncer- scott's expenditure. . 95 tain value, you must give us, in return, the means of raising money for the demands of our own business." Nothing could be more reasonable ; and therefore Con- stable & Co. received corresponding amounts of bills, accepted by James Ballantyne & Co. without value, so that, while James Ballantyne & Co. (for Scott's behoof) discounted Constable's bills, Constable discounted those of James Ballantyne & Co. And if Constable & Co. bore the expense of discounts, stamps, &c, necessary to keep afloat the one set of these bills, the similar burdens on the other fell to the share of James Ballantyne & Co. When the bankruptcy of all the parties took place, the amount of bills granted by Constable & Co., and not paid by them, was £36,500, and the amount of unpaid bills granted by James Ballantyne & Co. to Constable was £29,000 ; and as both sets of bills were in the hands of discounters, their whole amount came upon James Ballantyne & Co. So much for Scott's " personal resources" to meet his purchases of land and the support of his establishment. Mr Lockhart's next attempt is to diminish, as far as he can, those expenses. He says, — " In all, up to June 1821, Scott had invested in land £29,083." How far this statement is correct we have no means of knowing ; but, supposing it to be so, the sum is not amiss. But there is a great deal more to be considered than the mere purchase-money of this land. It was wholly un- productive ; and the expense alone of keeping in his own hands such a wide extent of land, from which he did not draw a farthing of revenue, would of itself have been a heavy matter, even had he merely kept it in the state in which he bought it : but he launched out into an extensive system of improving, by planting, draining, enclosing, &c. &c, ; and moreover, at the period now in question, (the year 1822,) the greatest part of the 96 SCOTT S EXPENDITURE. house of Abbotsford, (on which as much money was lavished as would have sufficed for the erection of a nobleman's baronial mansion,) with its offices, gardens, and other appurtenances, was in a fair way of being finished. We must add, too, the splendid style of hos- pitality in which he had indulged for some years previous to the time of which we now speak, and of which an idea may be formed from the pages of Mr Lockhart's own work. During six months of the year he resided at Abbotsford. The most wealthy of the English no- bility are accustomed to entertain large parties of guests at their country mansions at certain periods of the year, such as the Christmas holidays or the commencement of the shooting season, for a few days, or a week or two perhaps, at a time ; but the halls of Abbotsford, for months and months in succession, were filled with par- ties of noble and distinguished guests, and crowds of pampered servants, while the stables might at any time have mounted a troop of horse. Mr Lockhart some- where in his book speaks of the time when " the new castle was complete, and overflowing with all its splen- dour ;"— " but by that time," he adds, " the end also was approaching." No wonder ! Such was the situation of things when, after the for- mation of the copartnery in 1822, the full statement of the affairs of the company and of its partners, in relation to each other, was drawn up and laid before them by Mr Hogarth. From that time the business went on, till, as our readers are aware, it was terminated by the bank- ruptcy of all the parties concerned, viz. of James Ballan- tyne & Co., Constable & Co., and their London corre- spondents, Hurst, Robinson, & Co.; a catastrophe which took place in January 1826. Down to that period, the system of bill transactions necessary to keep afloat the load of subsisting liabilities, and to supply the demands SIR WALTER SCOTT'S ACCOUNTS. 97 of Sir Walter Scott's still increasing expenditure, went on as before. In order to settle the affairs of James Ballantyne & Co., and of the partners, a trust-deed of conveyance was executed by them, and accepted by the creditors. The affairs of Constable & Co. were wound up by a sequestration, and those of Hurst, Robinson, & Co. by a commission of bankruptcy, to which a sequestration is equivalent. It was then that the liabilities of these respective parties were ascertained to stand thus : — * Bills accepted by James Ballantyne & Co. to Constable & Co., current in Edinburgh and London at the date of the bankruptcy, .... £29,624 11 3 Bills accepted by Sir Walter Scott to James Ballantyne & Co., .... 16,272 19 10 A bill accepted by Hurst, Robinson, & Co. to James Ballantyne & Co., without value, 666 13 4 Gross amount of James Ballantyne & Co.'s liabilities, had Constable & Co. and Hurst & Co. remained solvent, . . . £46,564 4 5' But, in consequence of tbese parties having become insolvent, the amount of James Bal- lantyne's liabilities was increased thus: — Bills accepted by Constable & Co. to James Bal- lantyne & Co., which, if solvent, Constable & Co. would have paid, £36,478 15 5 Bills accepted by Hurst, Ro- binson, & Co. to Con- stable & Co. for L.5000, advanced to them by Sir W. Scott, and which H., R., & Co. would have paid, if solvent, . 5,000 Carry forward, £41,478 15 5 £46,564 4 5 * See Appendix, No. VIII. 98 SIR WALTER SCOTT's ACCOUNTS. Brought over, £41,478 15 5 £46,564 4 5 A bill accepted by Hurst, Robinson, & Co. to James Ballantyne & Co., for value, . .563 15 10 42,042 11 3 Total, . £88,606 15 8 Thus, the liabilities of James Ballantyne & Co. at the time of the bankruptcy in January 1826, (independently of those arising from the insolvency of Constable & Co. and Hurst & Co.,) amounted to £46,564:4:5. But though these, like the liabilities at the commence- ment of the new copartnery in 1822, were nominally those of James Ballantyne & Co., they were really those of Sir Walter Scott. They consisted, first, of new bills discounted to meet the old as they became payable, along with the discounts and other expenses attending the keeping afloat the mass of accommodation paper ; and secondly, of accommodation bills, entered into for the purpose of raising money paid over to Sir Walter Scott beyond the amount of actual funds provided by him. In order to show this to be the case, we refer to the following accounts, printed in the Appendix : — * 1. Account showing- the discounts paid for Sir Walter Scott from 29th May 1822, to 31st Dec. 1825, £5,876 N.B. — These discounts are those only on bills for the accommodation of Sir Walter Scott, and do not include discounts on real business bills, or on the bills received by Mr Ballantyne for his share of the novels ; though the discounts on these latter bills (the proceeds of which were never drawn Carry forward, £5,876 * Appendix, No. IX. SIR WALTER SCOTT'S ACCOUNTS. 99 Brought forward, £5,876' by Mr Ballantyne, but kept floating for the accommodation of Sir Walter) should properly have been included. . State of exchange paid on sums remitted to Messrs Curries, bankers, London, to re- tire James Ballantyne & Co.'s acceptances to Constable & Co., discounted in London on Sir Walter's account, stamps, &c, viz : Exchanges and stamps, £899 10 4 Bill stamps, . . 251 13 6 1,151 3 10 , Account of money received and paid on account of Sir Walter Scott ; showing the payments made to builders, wine-mer- chants on the present Sir Walter Scott's account, to jewellers, joint-stock concerns in which Sir Walter embarked, brass- founders, milliners, grocers, &c. &c. — in short, every thing Sir Walter had to pay as personal and family expense ; the excess of payments hey ond receipts being* . 15,206 14 5 £22,233 18 3 The following abstract of this last account (the full particulars of which may be referred to in the Appendix) will show the nature and extent of Sir Walter Scott's personal expenditure during the years 1823, 1824, and 1825:— Sum at Sir Walter Scott's debit at the commencement of this account, . . . £561 10 8 Carryforward, £561 10 8 * £17,142:18:10 in the Refutation . The difference arises, partly, from a sum which, on revising the account, we found to have been erroneously placed to Sir Walter Scott's debit, and partly from some others, which we were in doubt of, having been kept out of the accounts as now printed. 100 SIR WALTER SCOTT S ACCOUNTS. Brought forward, £561 10 8 Sums deposited with bankers in Edinburgh and London, for Sir Walter Scott's private use, 3280 5 5 Drafts on London for his private use, . 2281 16 James Ballantyne & Co.'s notes to him for ditto, 7465 5 S Cash paid to him in sums varying from L.50 to L.350. . . . 3240 18 5 Paid his bills for works at Abbotsford, viz. Builders' bills, . £6200 Founders' ditto, . 905 2 1 Carpets, . . 141 7246 2 1 Paid insurances for him, £555 6 10 Interest, &c. . 360 18 916 4 10 Cash paid Mr Terry, for purchases made by him for Sir Walter, . . 606 18 3 Paid instalments on his shares in joint-stock companies, viz. Waterloo Hotel, Oil Gas Company, Glasshouse Company, Water Company, Railway Company, and Scottish Union Insurance Company, . 765 17 11 Paid his acceptances to sundries, as under : Creelman, £318 Hunter, 150 (i Arthur and Fynning, . 482 2 6 Johnstone, 306 13 6 Howison, . 75 Cockburn, wine merchant, 892 17 Falkner and Thomson, ditto, 94 2318 13 Sundry accounts for work done at Abbotsford by painter and brassfounder — household accounts, and accounts to Lady Scott's dressmakers, . . . 1798 9 Sums paid on account of Lieut. Scott's com- mission, . . . 5349 7 3 Carry forward, £35,831 3 SIR WALTER SCOTT's ACCOUNTS. 101 Brought forward, £35,831' Loans to Constable & Co. in January 1826, 4000 Repaid A. Cowan & Co.'s loans, and interest, 2002 Bills taken out of the circle by means of loans, 3216 Repaid the sums borrowed for that purpose, 3240 3 17 6 4 1 Sums paid by James Ballantyne & Co. account of Sir Walter Scott, in 1823. 1824, and 1825, Sums received by James Ballantyne & Co. on Sir Walter Scott's account . 33,083 13 9 . on \ 523, V Balance, being excess of payments beyond ) £ir gnf 4 5 receipts during the above period, J For this fifteen thousand pounds of personal expen- ses, incurred during these three years beyond the amount of funds actually received on account of Sir Walter Scott, as well as for the seven thousand pounds of discounts, stamps, interest, exchange, and other ex- penses incurred in keeping up the pre-existing amount of liabilities, Sir Walter continued, as before, to use the firm of James Ballantyne & Co. in procuring accom- modations ; and hence arose the amount of their liabili- ties at the time of the bankruptcy. On all occasions, he made use of James Ballantyne & Co. as the means of supplying his wants. If he wanted money, and they happened to have it, he drew it out ; if not, he made use of their firm to raise it. Such was his uniform practice, from the first formation of the company to the last day of its existence. Of Scott's control, activity, and vigilance in managing these transactions, we have already, we think, furnished sufficient specimens. The reader will find in the Appendix some specimens of the orders and directions for the payment of money 102 CHARGES AGAINST JAMES BALLANTYNE on his account, which Sir Walter Scott was in the habit of sending to James Ballantyne.* To the full and exact history which we have now given of the liabilities undertaken by the firm of James Ballantyne & Co. for the personal behoof of Sir Walter Scott, we have one circumstance to add, which shows the light in which those engagements were viewed, at the time, by those who were best acquainted with their nature. In 1824, the pressure of these engagements became so heavy, and the difficulty of "managing" them, by means of constant renewals and exchanges of accommodation bills, so very great, that it became an object of much consequence to lighten this pressure, by obtaining a permanent loan. Mr Hogarth was asked by Sir Walter Scott to endeavour to procure £5000 upon Sir Walter's personal security ; and he accordingly procured the sum from his relative, the Rev. David Hogarth, upon Sir Walter's bond, and a conveyance to a policy of insurance on his life, with James Ballan- tyne's name on the bond as a collateral security. Whe- ther Mr Hogarth acted with due caution in advising his relation and client to enter into this transaction, may well be questioned ; but it appears from Mr Hogarth's letter to James Ballantyne,f mentioning the terms of the loan, that he had full confidence in Sir Walter's responsibility. The passage in this letter to which we wish to direct attention, is the following : — " As far as you are concerned, your joining in the bond can be of no moment. You are already engaged for those debts of Sir Walter lohich this money is to he employed in dimi- nishing." We shall now attend to Mr Lockhart's charges * Appendix, No. X. t See Appendix, No. XI. REPLIED TO. 103 against James Ballantyne ; and these, notwithstanding the length at which he dwells upon them, will not occupy us long. Mr Lockhart's general abuse of Mr Ballantyne's character, is unworthy of notice. The few things he calls facts, thinly scattered among his heaps of Billingsgate, are very easily disposed of. In his account of the period between James Ballan- tyne's marriage and the new copartnery in 1822, there is just one tangible charge made against him. He, it seems, made use of the firm for a private purpose of his own. " Mr Alexander Ballantyne," says Mr Lockhart,* " a younger brother at Kelso, was, it appears, pressed for money, and called on James to pay up a debt of £500 — not a company, but a private debt. The con- cern in the Canongate was labouring under difficulties ; and, in order to pay Alexander, a bill by the company was discounted. James did not communicate the trans- action to Scott. He sent the money to John, the auctioneer, to get the bill retired ; but by some accident, the money was not received in due time, and the bill, being dishonoured, was noted. Had it not been for this accidental circumstance, Sir Walter would never have heard of the bill at all." Mr Lockhart derives his knowledge of this transac- tion entirely from two letters in which James Ballan- tyne mentions it to Scott, and the terms of which are grossly misrepresented. The account given in James Ballantyne's letters (in October 1816) is simply this. Mr Alexander Ballantyne having required £500 of the money "for which he held the company's acknowledg- ment" James gave him two bills, accepted by the com- pany's firm, for the amount. When one of these bills, which was for L.200, became due, James, to prevent inconvenience to the company, had provided money of * Pamphlet, p. 58. 104 CHARGES AGAINST JAMES BALLANTYNE his own to take it up ; but, having gone out of town, the money was not carried to the bank in time, and the bill, accordingly, Mas dishonoured — the money having been taken to the bank just too late to save noting. The dishonour of a bill, even through accident, is a serious matter to commercial men ; and this dishonour of the bill, not the granting it, teas the " discreditable incident" for which James expresses his regret. Sir Walter (as Lockhart says) seems to have been ill pleased with this transaction ; and James wrote another letter, which contains the following justification of it : " I respectfully beg leave to call to your recollection a very Ion"- and not very pleasant correspondence, two years ago, on the subject of the debts due to my brother Alexander ; and I may now shortly re-state, that the money advanced by him went into the funds of the business, and at periods when it was imperiously wanted. No doubt, it went in my name, to help up my share of stock equal to yours ; but I honestly confess to you that this consideration never went into my calculation, and that, when I agreed that the name of James B. & Co. should be given to the bills for that money, I had no other idea than that it was an easy way of procuring money at a very serious crisis, when money was greatly wanted ; nor did I see that I should refuse it because the lender was my brother. His cash was as good as another's. Personally, I never received a sixpence of it. When my brother called up the money, he had the company's obligation therefor ; and I thought myself war- ranted to pay him by means which did not increase the company's responsibility, nor pledge their credit one guinea further" The unpleasant correspondence referred to in the above passage, took place in 1814, and is printed in the Appendix.* This correspondence contains ample proof * See Appendix, No. XII., containing a letter from James to Alexander Ballantyne, dated 23d September 1S14, in which are extracts from a letter of Mr Scott to James Ballantyne, and of James's answer; and a letter from James to Alexander, dated 7th November 181G. REPLIED TO. 105 that the money borrowed from Mr Alexander Ballan- tyne was borrowed for the company, and applied to its purposes ; thus completely negativing Mr Lockhart's assertion, that this debt originally stood on James Bal- lantyne's single security, for which he afterwards unwar- rantably substituted that of the company. It appears, however, from James's letter to Alexander, in Novem- ber 1816, that Scott persisted in objecting to Alexan- der holding the company's security for the £500 still due to him ; and that James, to put an end to the dis- pute, got Alexander to give up the company's securi- ties, and take his own in their stead. The only conclusion we conceive it necessary to draw from this mighty affair is, that it shows how ridiculous it is for Mr Lockhart to talk of Scott's supine and quiescent ignorance of the engagements in which the Ballantynes involved him. During the next period — that subsequent to the for- mation of the new copartnery in 1822 — Mr Lockhart makes the most outrageous charge of extravagance against James Ballantyne. " But, betwixt 1822 and 1826," says Mr Lockhart,* C{ were there no monies of the company overdrawn by Mr James Ballantyne, and appropriated to his own pri- vate purposes, which, if they had not been abstracted from the company's purse, would have diminished the necessity for increasing the company's obligations ? The sums drawn by him are noted on the 1823; '2219 15 7 margin, as taken from accounts in his own 825', 2276 3 5 handwriting, and they amount to £9331, 15s. 5d. from May 1822 to January 1826. bound by the Pamphlet, p. 85. 1824, 2842 19 2276 3 653 10 He was bound by the company contract 100 JAMES BALLANTYNE'S EXPENDITURE. not to take more than £500 a-y ear, or about £1750 ; so that here is an overdraft on the part of Ballantyne, in direct violation of the contract, of no less than £7581, 15s. 5d. If we compute interest on this insane expen- diture, we shall bring it considerably above £8000 !" Now, who would believe, on perusing this very par- ticular statement, that it is wholly drawn from the maker's imagination ? But so it is. It is a stale trick to give an air of truth to a fiction, by clothing it with minute particulars. Had Mr Lockhart roundly asserted that James Ballantyne had spent £10,000 or £9000, the reader's incredulity would have been excited ; but when he not only states the sum as so many pounds, shillings, and pence, but divides it into half-a-dozen sums, as those spent every year, suspicion is laid asleep, and people are apt to imagine that what appears so exact must be true ; more especially as Mr Lockhart boldly mentions the source from which he has drawn his details. " The sums," he says, " are taken from accounts in his own handwriting." This assertion, we repeat, is grossly untrue. He neither did, nor could, take those sums from James Ballantyne's accounts, for they contain no such sums, nor any sums which, by any process of addition, can be made any thing like them. The account referred to by Mr Lockhart, is the cash-book kept by James Ballantyne down to the day of the bankruptcy, and which contains most exact entries of all his receipts and payments. In that book he debits himself, as in account with the company, with all sums drawn by him from the business; taking credit, on the other hand, for such sums as he paid into it. We have made up from this book (in the same way that Mr Lockhart pretends to have done) an ac- count containing every sum which was drawn by James JAMES BALLANTYNE's EXPENDITURE. 107 Ballantyne during the period in question,* including every item that can possibly be charged against him ; and they amount, in all, to . £7122 3^ Deduct cash payments into the business, 1765 17 Excess of his cash drafts beyond"^ fK^rr q oi cash payments, . J Even this, we readily admit, was a larger sum than James Ballantyne, with strict economy, ought to have drawn. But this was a matter which concerned himself. In so far as concerned the company, or his partner Sir Walter Scott, he was fully entitled to a great deal more than he drew. Mr Lockhart talks in such a way as to have it understood, that the only fund which belonged to him during that period, so as to be set against his drafts, was £500 a-year of profit, or about £1750 in all; and that, in drawing more than that, he drew more than belonged to him. But this, as usual with Mr Lockhart, is a gross misrepresentation. There was a stipulation in the copartnery agreement, that each partner, for a time, should only draw £500 a-year out of the profits ; but the whole profits of the year be- longed to them in equal portions, and whatever was not actually drawn, remained at the credit of each part- ner in account with the company. Now, we have formerly shown that James Ballantyne's share of the business profits, during the period in question, was not less than - £5500 And there were, moreover, his share (as already explained) of various novels, viz. Nigel, Peveril, Quentin Durward, Carryforward, £5500 * See Appendix, No. IX. 108 james ballantyne's expenditure. Brought forward, £5500 St Ronan's Well, Redgauntlet, and Tales of the Crusaders. For his share of these works, he received the bills of the publishers in the same way as the author did for his shares ; and the pro- ceeds of the bills granted for Ballan- tyne's share, as well as the others, were all employed in meeting the engage- ments of James Ballantyne & Co. James Ballantyne, therefore, was cre- ditor to the company for their amount, which was in all, . . 3600 Amount which was thus at James Bal-\ t oi qo lantyne's credit with the company,/ Amount of his drafts, as above, after de- ducting his cash payments, . 5356 3 3i Leaving a surplus in James Ballan-1 j 374-3 if ci tyne's favour of . . J Had James Ballantyne limited his drafts to L.500 a-year, and left the whole of this surplus to " fructify" in the hands of the company, it would certainly have been more strictly prudent and economical. But, if he deviated from the arrangement that the partners were to limit their drafts to L.500 a-year, Scott did so to an enormously greater amount ; so that the arrangement was thus all along de facto set aside by both the parties who made it. After this, Mr Lockhart's petulant remarks about Mr Ballantyne's personal and family expenditure are entitled to very little notice. He has brought together from Mr Ballantyne's cash-book a number of items scattered over JAMES BALLANTYNE'S EXPENDITURE. 109 a period of four years, marking some of them with single some with double, and some with triple notes of admira- tion ; and Mr Lockhart's usual unfairness characterises his selection. Thus, to show Mr Ballantyne's extrava- gance in regard to wine, he inserts all the entries he can find of purchases of that article ; but Mr Lockhart, we presume, did not see the entries on the other side, of sums received from various persons to whom Mr Ballantyne parted with portions of his purchases. Mr Lockhart, of course, did not see the following : — 1824, January 24, Received from Mr George Thomson for wine, . . . . . . L.14 8 April 27, Received from Mr Bruce for wine, sold by him for me, ..... 48 1825, February 23, Received from John Patterson for wine sold him, . . . . . 115 Whilst on the subject of wine, it appears, on reference to the same cash-book, that in the course of eighteen months, Mr Ballantyne paid on Sir Walter's account for wine, &c. : — John Cockburn & Co., .... L.892 17 And to Falkner & Thomson, . . . 94 L.986 17 Besides accounts for spirits, &c. Mr Lockhart, while he puts down, in like manner, several payments for horses bought, did not see any re- ceipts for horses sold ; and, by this convenient blind- ness, makes it appear that James Ballantyne (who never had more than a horse for his gig or phaeton) actually kept a stud. Another piece of bad faith, though trifling in itself, is curiously characteristic of Mr Lockhart. 110 MUTUAL DISCHARGE. He finds the following article : — " Seven sovereigns to my son John, to amuse him while confined, L.7." This he blazons with his usual mark of wonder ; and returns to it many pages afterwards to make it the subject of ridicule: — " One entry of his expenditure for 1823 is, 1 To seven sovereigns for my son John, to amuse him while confined, '^in other words, for the young Asca- nius to play with when he was in bed with the measles ! His rocking-horse and his pony," adds our censor, with his usual kind feeling, " were ready for him when he recovered !" And why not, pray? But while Mr Lock- hart was so much astounded by the aspect of these seven sovereigns, he did not see, we suppose, an entry a short time afterwards, on the opposite side of the cash-book, which runs thus : — " From my John, for lent him during his illness last December, £4, 2s ;" — the remaining £2, 18s. having no doubt been spent by Mrs Ballan- tyne in household expenses. A word of comment on this would be superfluous. Did the history which we have now given of the whole course of the transactions between Sir Walter Scott and James Ballantyne, founded upon irrefragable evidence ; and did the conclusion which it establishes — that the mass of outstanding bills for which the firm of James Ballantyne & Co. was liable at the time of its bankruptcy were the proper and personal debts of Sir Walter Scott — require any corroboration, this would be found in the mutual discharge executed by Sir Walter's executors on the one hand, and by us on the other, of all claims between the parties represented by them and by us. Mr Lockhart, with his usual respect for truth, says that it was we, " the friends of Ballantyne, who prayed for this mutual discharge ;" and he then quotes a letter from his agent, Mr Isaac Bayley, in which MUTUAL DISCHARGE. 1 11 that gentleman represents the agreeing to the mutual discharge as having been recommended by him, as a matter of liberality towards Mr Ballantyne's family. Now, what are the facts ? This transaction originated with the trustees for the creditors of Sir Walter Scott. Mr John Gibson, writer to the signet, the law-agent for these trustees, applied to Mr Alexander Douglas, writer to the sig- net, one of our number, and the law-agent for Mr Bal- lantyne's family, informing him that the trustees, having obtained a discharge from the creditors, were desirous of putting an end to their office, and of being- exonerated of their actings in that capacity. " Sir Walter ScotCs family," said Mr Gibson in this letter, which is dated 26th July 1833, " alone have any substantial in- terest in these arrangements ; but, in point of form, the discharge to the trustees must also be executed by the representatives of Mr Ballantyne." And he therefore requested the information necessary for that purpose. In answer to this letter, Mr Douglas wrote, on 29th July :— " I have been favoured with your letter of 26th instant, on the subject of the discharge to be granted by Sir Walter Scott's representatives to the trustees of James Ballantyne & Co. ; and, agreeably to your desire, I now send you extract trust- deed executed by the late Mr James Ballantyne ; and I may mention that, at the time this deed was executed, and at other times during Mr Ballantyne's illness, I had several conversa- tions with him regarding his transactions with, and obligations for Sir Walter Scott, and he assured me that every thing must be considered as settled between them., and that the one had no claim against the other. And I know that he expressed him- self in a similar manner to his brother-in-law, Mr John Pat- terson. In this situation, / can see no objection whatever to Mr Ballantyne's trustees concurring in the discharge which 112 MUTUAL DISCHARGE. you require ; but, at the same, time, I beg to submit to you the propriety of their and Sir Walter Scott's testamentary trustees executing a mutual discharge of all claims which the one can have against the other." This was no " prayer." It was an answer to an ap- plication, containing a proposal as a concomitant to the granting of that application. And how was this pro- posal received ? On the following day, Mr Gibson wrote, — " I am favoured with your letter of yesterday, and have sent a copy of it to Mr Bayley, who acts for Sir Walter Scott's testamentary trustees. 1 think it highly proper that the discharge you suggest should be executed ; and you had better communicate with Mr Bayley on the subject." The matter being thus brought before Mr Bayley, he, with proper caution, wrote to Mr Gibson : — " Mr Douglas's proposition for a mutual discharge between the representatives of Sir W. Scott and Mr James Bal- lantyne seems to me quite proper ; but, before writing Sir Walter's trustees on the subject, I shall feel obliged by your stating ichether you are satisfied that Sir Wal- ter s estate has no claims upon that of Mr Ballantyne." Mr Gibson, in answer, immediately wrote thus: — " They both" (that is, Scott and Ballantyne) " raised as much money as they required for their own purposes by means of accommodation bills, or otherwise. All passed through Mr Ballantyne's hands ; and his state- ment to me was, that the greater part of it was remitted to Sir Walter Scott. At an early part of the trust, 1 suggested to Sir Walter Scott and Mr Ballantyne that it would be right to have an account between them made up, but neither of them seemed to think that was either practicable or necessary. I have a strong conviction that Sir Walter never considered that HE HAD ANY CLAIMS AGAINST Mr BALLANTYNE." MUTUAL DISCHARGE. 113 This mutual discharge, then, was no favour asked by Mr Ballantyne's representatives, and granted by those of Sir Walter Scott. It was suggested as proper by Mr Douglas, in answer to an application made to him ; and its propriety was instantly acquiesced in, because Sir Walter had never considered that he had any claims against Mr Ballantyne. Mr Ballantyne's representa- tives never asked or desired any exertion of liberality on the part of the family of Sir Walter Scott. Mr Gibson had " a strong conviction," derived, of course, from what had been said to him by Sir Walter Scott, " that Sir Walter never considered that he had any claims against Mr Ballantyne." This is Mr Gibson's written statement under his hand, and is corroborated by Mr Bay ley's letter itself; for he says, " Mr Gibson informed me, that no such account as I refer to (that, namely, between Sir W. S. and Mr B.) had been made up ; that he had suggested the attempting of it when the affairs came into his hands, but that both Sir Walter and Mr Ballantyne had dissuaded any such attempt ; and he has told me since, Sir Walter made use of the words, that such an attempt 'would only be throwing good money after bad.' " When Scott, in a letter to Mr Lockhart him- self, written after the bankruptcy took place, said, — " / have been far from, suffering by James Ballantyne. I owe it to him to say, that his difficulties, as well as his advantages, are owing to me ;" — and at a later period, when, on James Ballantyne wishing a personal discharge from the creditors of the company, he asked Scott's con- sent, (which was necessary, from their being jointly bound,) Scott answered, — " So far as I am concerned, I give my consent with great pleasure to your discharge, being satisfied, that in all your transactions with me, you have acted with the utmost candour and integrity;" — when Scott, we say, made these declarations, could he have K 114 MUTUAL DISCHARGE. been also saying to another person, in the sense which Mr Lockhart endeavours to put upon the words, that an attempt to adjust his accounts with James Ballan- tyne " would be only throwing good money after bad ?" Taking, then, Mr Gibson's written statement of his strong conviction that Scott never considered that he had any claims against Mr Ballantyne, it is of itself a proof (were any further proof requisite) of the real nature of the mass of James Ballantyne & Co.'s liabilities. Scott, at the time he so expressed himself to Mr Gibson, was ■well aware of the amount of those liabilities. They could not have been incurred on account of the printing business, and must therefore have been incurred by the firm having been used for the personal behoof of one or other of the partners : and if Scott had not been con- scious that he, and not Ballantyne, was the party for whose purposes the firm had been used, how could he have made any of the declarations just quoted? — and, in particular, how could Mr Gibson, from what he said to him, have been impressed with the strong conviction that he never considered himself as having any claim •against Mr Ballantyne ? Mr Gibson, in his letter to Mr Bayley, says that neither Scott nor Ballantyne seemed to think that it was either practicable or necessary to make up an ac- count betwixt them. It certainly was not necessary ; and for this reason it was not done. Mr Ballantyne had no interest in it, because he was overwhelmed by the obligations for Constable & Co., and Hurst, Robin- son, & Co., and it was no matter whether Sir Walter owed him any thing or not : and Sir Walter knew well that the result of such an account would be to show that all the bills in circulation which had passed through James Ballantyne & Co.'s books were for his own pur- poses. But the account, had it been necessary, was MUTUAL DISCHARGE. 115 perfectly practicable. The accounting had to embrace only the short period subsequent to the commencement of the copartnery in May 1822 ; as the contract then entered into, founded on Scott's missive letter, contained a mutual discharge of all previous transactions, and a minute statement of their pecuniary relations to each other at that time. It is true that Sir Walter Scott's account with James Ballantyne & Co. was not posted up in the company's ledger ; but Mr Ballantyne's cash- book, from the date of the new contract of copartnery to the period of the bankruptcy, was most accurately kept, and contains a complete record of the whole trans- actions. From this book the respective accounts of Sir Walter Scott and of Mr Ballantyne ; and the states of the bill transactions, already particularly referred to, have been made out, and we challenge any impeachment of their accuracy. W T e must add, that we did not desire that these accounts and statements should have been made up by us. On the contrary, in November last, when Mr Cadell, on the part of Mr Lockhart, required access to the books, we proposed that they should be examined and reported upon by a respectable accountant, .at the mutual expense of both parties. In Ballantyne & Co.'s letter to Mr Cadell of the 13th of November, this proposal was made in these words : — " We are de- sirous to afford every facility in making out as exact a state as possible of the mutual transactions between Sir Walter Scott and Mr Ballantyne ; and therefore, if we can agree upon any respectable accountant not connected with either of the parties, we have no objection that the books should be examined and reported upon by him at an expense not exceeding fifty guineas, to be paid by us mu- tually" This fair proposal, however, was declined. We formerly mentioned the fact, that James Ballan- tyne did not know, till the final catastrophe, that the 11C TRANSFER OF ABBOTSFORD. estate of Abbotsford was no security to him for his engagements on Sir Walter Scott's account. In this, Mr Lockhart has the hardihood to say, we have " as- serted a flagrant untruth," and supports this presumption on the following marvellously strong grounds ! In the Jirst place, James Ballantyne was invited to an evening party at Sir Walter's on the day of his son's marriage, at -which, of course, the terms of the marriage settlements would be a subject of conversation — a new species of evening small talk in a gay assembly ! In the next place, the transaction was known to various intimate friends of Sir Walter and his family, and had been talked of in Con- stable's shop — therefore Ballantyne knew it. Thirdly, the marriage-contract was followed by the formality, called in Scotland an infeftment, and the deed was recorded in the Register- Office. This would bring the matter to the knowledge of any practitioners in the law who might have occasion, in the course of business, to enquire into the state of the title-deeds of the estate of Abbotsford ; but how it should bring it to the knowledge of James Ballantyne we cannot comprehend. Lastly, Messrs Constable & Co. knew of the settlement of Abbotsford, and must have communicated the fact to James Ballan- tyne — a most clear and conclusive inference ! Upon these suppositions— they do not amount even to pre- sumptions — Mr Lockhart ventures to say that, in men- tioning James Ballantyne's own declaration, made to one of ourselves, we have asserted a flagrant untruth ! Mr Lockhart says, that we " suppressed all allusion to the fact, that that settlement of Abbotsford reserved to Sir Walter the right of borrowing L. 10,000 on his lands ; and that this sum was borrowed and applied to the purposes of Ballantyne & Co. and Constable & Co., before the end of 1825 — the loan being negotiated and the necessary instruments prepared by James Ballan- TRANSFER OF ABBOTSFORD. 117 tyne's brother-in-law, Mr George Hogarth, W.S." This fact we certainly never thought of suppressing ; but neither did we think of mentioning it, simply be- cause it had nothing to do with the subject in hand. It does not in the slightest degree contradict our statement, that Mr Ballantyne was unaware of the alienation of Abbotsford till the catastrophe took place. Observe the dates. Sir Walter, in his Diary, on December 14, 1825, says, " I intend to borrow L10,000, with which my son's marriage- contract allows me to charge my estate." After having formed this intention, of course he gave Mr Hogarth directions to negotiate the loan, and that gentleman must then, by inspection of the title- deeds, have become aware of the fact that Scott's interest in the estate was limited to a power of borrow- ing L. 10,000. Whether Mr Hogarth then communi- cated the fact to Mr Ballantyne, we know not, nor is it of the smallest consequence. Sir Walter, as also appears from his Diary, signed the bond or deed of mortgage on the 3d of January ; and the catastrophe took place on the 16th of the same month. Such is Mr Lockhart's hypothesis, the amount of which is, that Mr Ballantyne may perhaps have heard of the way in which Abbots- ford had been disposed of, two or three weeks before the actual day of the catastrophe ; but we meet it with the simple fact, for which James Ballantyne was our authority, that he did not hear of the transfer till after the bankruptcy, when it was communicated to him by Sir Walter Scott, in his house in Heriot Row. Another point to which we shall advert, is the manner in which James Ballantyne conducted his business after his concerns were finally separated from those of Sir Walter Scott. In our former statement we said, that the printing-house and materials were sold by Sir Walter 118 JAMES BALLANTYNE S MANAGEMENT Scott's trustees to Mr Cowan, who purchased them on account of Mr Ballantyne, who, from May 1827, car- ried on the business on his own account ; and that, notwithstanding the obvious disadvantage under which he was thus placed, yet, at the period of his death, in the beginning of 1833, he had not only cleared off all incumbrances, but had realized a considerable amount of property for his family. This fact, we added, shows, in the first place, the improbability of Mr Lockhart's unsupported statements and insinuations about Mr Bal- lantyne's mismanagement and negligence ; and secondly, that if Sir Walter Scott's reprentatives had had any claim against Mr Ballantyne's estate, there were funds to meet it. On this Mr Lockhart makes the following comment : — " I had almost forgotten to observe another extraordinary piece of assurance on the part of these pamphleteers. They tell us that the success of the printing business after January 1826, is of itself sufficient proof of the utter absurdity of all my allegations about James Ballantyne's inattention and mis- management in the previous period. Charming logic ! During the four years 1826-1829, of which they exhibit the pros- perous business and well-kept accounts, the concern was not in James's hands at all, but first in those of the creditors' trustees, Messrs Jollie, Monypenny, and Gibson, three long-headed writers to the signet, who kept a sharp eye upon every item of expenditure, allowing James to meddle with nothing but the supervision of the typography, for which they paid him his salary of L.400 ; and afterwards of the excellent Mr Cowan, who appears to have advanced the money for the purchase of the printing-house, types, &c, from the trustees." Mr Lockhart talks of our logic — his own in this pas- sage is sufficiently poor. We spoke of the success of James Ballantyne's management, when he managed the business himself and for himself. The period of the management (from January 1826 to May 1827) OF THE PRINTING BUSINESS. 119 under " the long-headed writers to the signet," who were trustees for the creditors, has nothing to do with the matter ; for, in that time, he had nothing but his salary, which was barely enough to maintain his family. It was only after Mr Cowan had purchased the printing- house and stock for his behoof, that the management became his own, and for his own benefit — a management with which Mr Cowan interfered not at all ; and it was in this last period, when Mr Ballantyne's management was without any control, that the profits of the business created a respectable inheritance for his children. This, we apprehend, sufficiently substantiates our statement, and shows what the printing-house of James Ballantyne would have produced had its affairs been left to his management, confined to its proper busi- ness, and not involved in the mass of Sir Walter Scott's personal speculations and embarrassments. Nothing can be more true than Sir Walter Scott's emphatic declaration, made to Mr Lockhart himself after the catastrophe had taken place, that he had been far from suffering by James Ballantyne — that James Ballantyne s difficulties were owing to him. But the other part of this declaration — that James Ballantyne's advantages were also owing to him — is more problema- tical. What might have been Mr Ballantyne's success in life, unconnected with Sir Walter Scott, is, of course, matter of speculation merely. But, taking into account the early distinction which his talents procured him — his being chosen, while yet a youth, to establish a pro- vincial newspaper, when such undertakings were neither so easy nor so common as they are now — his ability and success in doing so — his typographical reputation, ac- quired while he was yet settled in a small country town, and the height to which it rose as soon as he settled 120 COMMUNICATIONS WITH himself in the metropolis; and, adding to these cir- cumstances of his life, the elements of success in his abilities and character, it is hardly possible to doubt that he must have preserved — for he had already- attained it — the highest eminence in his profession, and that the sum of his life would have been different from a bankruptcy near the close of it, and finally an inheri- tance of four or five thousand pounds to his children. In regard to Sir Walter Scott, we do not deviate from the respect which, in common with all the world, we feel for the memory of a most illustrious man, when we say that a spirit of commercial enterprise was, all his life, a prominent feature in his character. He was ambitious ; and he desired wealth, not as an end, but as a means of achieving his object — that of being the founder of a proud name in the aristocracy of his coun- try. Hence his early resolve to make literature the subject of high and bold speculation, and the manner in which he lavished, not only the riches he was really acquiring, but the illusory riches he imagined he was acquiring, in making himself the lord of a wide domain. His course was prompted by his own spirit, and would have been pursued by him whoever had been his agents or subalterns. The game was his own ; so were the eagerness, the boldness, the hazards, with which he played it ; and so, therefore, was its final result. We have now replied, and we trust satisfactorily, to all Mr Lockhart's tangible charges. There are others which he merely hints at ; saying he " can easily prove" some, and " could easily have shown" others. But, as he does not either prove or show them, we shall pass them without notice, being unwilling to lengthen a statement already too long, by replying either to vague assertion or unprovable insinuation. One circumstance MR CADELL. 121 we shall, however, touch upon before concluding and that is in regard to Mr Hughes's communications with Mr Cadell; respecting which we shall take the liberty to say, that if Mr Lockhart and his publisher fancy they have behaved with either dignity or gentlemanly feeling, they wofully deceive themselves. The case is simply this ; and, having stated it as shortly as possible, we shall confidently leave our readers to form their own judgment. — When the sixth volume of the Life of Scott was passing through the press, Mr Hughes wrote to Mr Cadell, the publisher, pointing out the incorrectness of the author's statements in regard to the bill transac- tions in which James Ballantyne & Co. had been in- volved, explaining the real nature of those transactions, and requesting Mr Cadell to communicate these expla- nations to Mr Lockhart, that his statements might be rectified before it was too late.* After receipt of Mr Hughes's letter, Mr Cadell desired to see him ; and at their interview, not only, in express terms, admitted the justness and propriety of the letter, but showed him very copious annotations on the margins of the proof-sheets intended for Mr Lockhart, made (as Mr Cadell said) in consequence of that letter, and which he undertook to forward to Mr Lockhart, saying that he had endeavoured all along to keep Mr Lockhart right in these matters, and that Mr Lockhart would be more likely to listen to him than to Mr Hughes. What communication Mr Cadell actually did make to Mr Lockhart, we can only gather from the following passage in the latter's pamphlet: — " Mr Cadell tells me that he considered Hughes's in- terference about a work advancing through the press of his employers as presumptuous, and that he should have thought it wrong ' upon principle,' to forward any such * Mr Hughes's letter is inserted in our Refutation, p. 47. L 122 COMMUNICATIONS WITH despatches to the author whom they criticised. He never communicated them to me ; but, had he done so, I certainly should have paid very little attention to their tenor." Tolerably cool and haughty this, on the part of the now lordly publisher (whatever he may have been a little while before) and the aristocratic author, and very mortifying, of course, to the poor printer, thus taught to know his distance ! But this is not all. Mr Lockhart tells us in the next sentence from what source he derived the ridiculous and absurd statement which Mr Hughes's letter impugned : — " This statement," he says, " was drawn up by me on the authority of Mr Cadell himself;" on the authority of the gentleman who had " endeavoured all along to keep him right," — with what sincerity our readers shall judge. In another interview which Mr Hughes had with Mr Cadell, in February 1838, after the whole Life was published, Mr C. made the same admissions in regard to the incorrectness of Mr Lockhart's statements ; and we cannot better show the impression made on Mr Hughes by this interview, as to Mr Cadell's feelings on the subject, than by inserting the following letter, writ- ten by Mr Hughes to Mr John A. Ballantyne in Lon- don, immediately after he had seen Mr Cadell: — t< Edinburgh, Feb. 16, 1838. « My dear Sir, * * * * * * * * " Cadell sent for me to-day to consult about size of page, type, &c, for an edition of the Life to match with the Magnum. It will not be begun this year, though ; but he wanted his plan all cut and dry to exhibit to Mr Lockhart. He was very frank and open in regard to his plans. I met him in the same spirit; but, when he started the subject of my letter to him, I was cautious and reserved. He com- MR CADELL. 123 menced by saying, after we had finished our talk about size, &c, of new edition — « I did not send your letter to Lockhart I thought it better not ; but I sent him extracts from it, and you would see that he modified the passages you point- ed out.' I merely observed, « That there had been very little modification ; and that the passages I most strongly objected to had not been touched.' He asked what these were. I said, ' those where James Ballantyne was made responsible for the accommodation-bills, and those in which he was held up as the person who ruined Sir Walter Scott, whereas Sir Walter Scott had ruined him." C. said that was quite true, and Sir W. admits the fact in his Diary. ' Yes,' I replied, < the Diary says, and it is right enough, " J. B. owes both his misfortunes and advantages to me." ' I next mentioned the passage in which L. talks of Constable in his panic having put his hand into his desk, seized a ' sheaf of counter-bills, lying there as cautioners for bills granted to J. B. and Co., and rushed to the money-changers with them, thereby doubling the amount of Scott's responsibility. I said the statement was so palpably absurd, that I regretted it most on Lockhart's own account ; and, besides, that it was notorious that Constable had not one bill in Ms desk to take to the money-changers. (This was a double entendre; for, between ourselves, Cadell, not Constable, had been the bill- man for years before the failure, and neither of them had counters wherewith to run to the money-changers. The counters were got by them for the purpose of being discounted; and they were discounted as regularly as they got them, and that was once a-month.) Well, C. admitted I was right here also ; that there was no sheaf of counters ; that, « curiously enough, he had laboured to convince Lockhart of this, but could not get him to understand it.' After a few commonplace remarks on different subjects, our conversation ended. Faithfully yours, " J. Hughes." 124 CONCLUSION. But, after all, Mr Cadell's behaviour in this affair is of very little consequence, and hardly deserves the no- tice we have given it. Our readers will, however, see, from the statement here given, that this most painful discussion is none of our seeking ; that, on the contrary, all was done that was possible to prevent it ; and that — these well-meant, though " presumptuous" (!) remon- strances, being utterly disregarded both by author and publisher — our appeal to the public was rendered un- avoidable. In conclusion we beg to say, that, as we were not to blame for the rise of this controversy, so neither are we for its continuance. Towards the end of last year, a correspondence (originating on the part of Mr Lock- hart) took place, with respect to the exhibition of James Ballantyne & Co.'s books, from which it appeared that Mr Lockhart intended again to bring the matter before the public; and we then distinctly gave that gentle- man notice, that his proposed reply would assuredly lead to an answer on our part, in which we might be compelled to treat the subject with less ceremony than he might altogether like. In a letter of the 24th November last, from Mr Douglas to Mr Bayley, who acted on behalf of Mr Lockhart, Mr Douglas said : — " No one more deeply deplores the discussion than I do ; and I should regret if Mr Lockhart sent forth an answer that will most unquestionably produce a reply, in which, I can assure you, Mr Ballantyne's represen- tatives will have it in their power to show, by letters, that Sir Walter Scott, in his transactions in the print- ing business, was not so inattentive to his own interest as Mr Lockhart would have the world to believe. I trust all our correspondence regarding this most im- CONCLUSION. 125 portant discussion is regularly communicated to the present Sir Walter, as well as Mr Lockhart. If not, I have to request it may be done." On the 29th of the same month, Mr Douglas again wrote to Mr Bay ley : — " I can only again say, that I de- plore the discussion that has taken place ; that I shall regret its continuance ; but that it is the bounden duty of myself and the other trustees of Mr Ballantyne, to protect his memory from the aspersions that have been cast thereon by Mr Lockhart ; — that we are in posses- sion of documents that we should regret being compelled to lay before the public, not on account of the memory of Mr Ballantyne, but that of Sir Walter Scott. These documents ice are ready to show to any gentleman in whom both parties have confidence, say Professor Wilson, Duncan M'Neill, or John Richardson of London." This fair offer — an offer, the spirit of which malice itself could not misinterpret — was, by Mr Lockhart's direction, peremptorily and rudely rejected. Mr Lockhart pub- lished his pamphlet, in which his original injuries were aggravated a hundred- fold ; and nothing remained for us but to appeal once more to the candour and justice of the public. APPENDIX. No. I. Accounts and States entered in the " Balance- Book, 1805—1809." 2 APPENDIX. PRIVATE OR Dr. Walter Scott, Esq., with the 1805. Oct. 10. To cash, L.30 Nov. 18. To do. ... 20 To balance carried down, being the total of Mr Scott's capital stock at Martinmas 1805, 2141 7 5 L.2191 7 5 1806. May 13. To cash, . . . L.50 25. To balance carried down, being the total of Mr Scott's stock at Whit- sunday 1806, . . 3301 5 1 L.3351 5 1 1806. June & Nov. To cash, . . • L.75 Nov. 21. To balance carried over, being Mr Scott's stock at Martinmas 1806, 3469 6 1 L.3544 6 1 1807. To cash drawn at thrice, . L.75 To balance, being net stock at Whitsunday 1807, . 3631 10 11 L.3706 10 11 APPENDIX. 6 PERSONAL ACCOUNT. Copartnery of Ballantyne & Co. ] Cr. 1805. May 15. By his share of capital stock from page 2 of this book, . L.2003 Nov. 16. By one-third share of the profits on the half-year's trade from Whit- sunday to Martinmas 1805, 183 7 5 L.2191 7 5 1805. Nov. 18. By capital stock, . . L.2141 7 5 1806. May 13. By cash advanced, . . 1000 " 25. By one-third share of the profits on the half-year's trade from Martin- mas 1805 to Whitsunday 1806, 209 17 8 L.3351 5 1 1806. May 25. By capital stock brought down, L.3301 5 1 Nov. 21. By one-third share of the profits on the half-year's trade from Whit- sunday to Martinmas 1806, 243 1 L.3544 6 1 1806. Nov. 21. By his capital stock brought over, L.3469 6 1 1807. May 25. By one-third share of the profits netted from Martinmas 1806 to Whitsunday 1S07, . . 2.37 4 10 L.3706 10 11 4 APPENDIX. PRIVATE OR Dr. Walter Scott, Esq., with the 1807. Whits. To one-third J. B. junior's salary, L.66 13 4 Nov. 1. To cash drawn per balance of account, 131 4 3 To balance, being net stock at Martinmas, . . . 3702 17 6 L.3900 15 1 1807. To account for binding paid Thom- son, and small articles per note, rendered to Ashestiel, . To binding paid Burns, . To do. paid Taylor, . To paper paid W. Whyte and Cowan, 1808. Jan. 7. To cash drawn, . Feb. 23. To do. ... Apr. 14. To do. ... May 25. To balance, being net stock at Whitsunday, . . . 3750 16 1 L.4107 4 7 L.22 1 9 2 9 18 (•) 5 7 10 250 1) 50 (> 1808. Whits. To one-third J. B. junior's salary, L.GG 13 4 To cash, difference betwixt two bills, paid by J. B. and Co. for Mr Scott, and cash and interest received for that purpose, July 4. To bill rendered L.50, cash L.10, Aug. 26. To cash drawn, . Nov. 2. To do. ... 25. To balance, being net stock at Martinmas, . . . 3717 6 O L.4152 4 9 8 o £> 60 50 250 APPENDIX. PERSONAL ACCOUNT. Copartnery of Ballantyne & Co Or. L.3631 10 11 1807. Whits. By capital brought over, Nov. By one-third of the profits on the half-year's trade, from Whitsun- day to Martinmas, . . 269 4 2 L.3900 15 1 1807. Marts. By capital brought down, . L.3702 17 6 1808. May 25. By one-third of the profits on the half-year's trade, from Martin- mas 1807 to Whitsunday 1808, 308 6 10 By Interests due (upon the loans as under, to make up the L.2000), 96 3 L.4107 4 7 1808. Whits. By capital brought down, . L.3750 16 1 Nov. 25. By one-third of the profits on the half-year's trade, from Whitsun- day to Martinmas 1808, . 251 8 8 By 6 months' commuted profit on L.2000, . . . 150 L.4152 4 9 6 APPENDIX. PRIVATE OR Dr. Walter Scott, Esq., with the 1808. Bee. 3. To paid Halliday and Co., binders, L.14 8 28. To paid Manners and Miller, maps, 10 10 1809. Mar. 27. To cash drawn, . . . 350 Nov. 22. To do. ... 350 To balance, being net stock, . 3842 9 8 L.4567 7 8 At a meeting of the parties, held. 13th December 1809, these accounts having been examined, and the balance there- on accruing to each partner found equal, it was determined that the accounts should be closed, and their amounts, form- ing together the sum of seven thousand six hundred and eighty-four pounds, considered as the permanent capital stock of the Company, invested in buildings and materials, whereof each partner possesses one-half. It was further determined that the divisible profit on the trade should be, and remain until altered by another written minute in this book, signed APPENDIX. 7 PERSONAL ACCOUNT. Copartnery of Ballantyne & Co. Cr. 1808. Marts. By capital brought over, . L3717 6 1809. Marts. By one-third of the profits on the year's trade, . . . 550 1 8 By one year's commuted profit on L.2000, . . . 300 L.4567 7 8 1809. Marts. By capital brought down, . L.3842 9 8 by both parties, thirteen hundred and fifty pounds an- nually, whereof nine hundred pounds, being two-thirds, should be paid to James Ballantyne, and four hundred and fifty pounds, being one-third, to Walter Scott, Esq., and that the further balance of profit arising on the trade, should remain for the discharge of additions to stock made within the current year, in the first place, and thereafter to accu- mulate towards the permanent capital stock. /c . n J Walter Scott. ( feigned ) < James Ballant yne> 8 APPENDIX. PRIVATE OR Br. James Ballantyne with the 1805. Nov. 18. To cash drawn on his own ac- count, per the Company's ledger, pages 368, 370, and 372, from Whitsunday to Martinmas 1805, L.1193 6 To balance carried over, being the total of Mr Ballantyne's capital at Martinmas 1805, . . 2932 4 4 L.4125 4 10 1806. May 24. To cash drawn on his own account, per the Company's ledger, . L.1185 4 3 26. To balance, being his share of capital at Whitsunday 1806, 2666 15 5 L.3851 19 8 APPENDIX. PERSONAL ACCOUNT. Copartnery of Ballantyne & Co. Cr. 1805. May. By his share of capital stock from page 1 of this book, . . L.2090 By amount of debts owing to James Ballantyne prior to the com- mencement of the copartnery, the amounts whereof are carried into the general stock as re- ceived : entered in the Com- pany's ledger, p. 367, . . 1604 16 11 Nov. 18. By two-thirds share of the profits on the half-year's trade, from Whitsunday to Martinmas 1805, 366 14 11 1806. May. By cash received by the Company from Messrs Constable, Whyte, Steuart and Manners, for cor- rections and extras for notes, brevier, &c, on the books en- tered in page 1 of this book, for which also see the several ac- counts of these gentlemen in the Company's ledger, . . 63 13 L.4125 4 10 1805. Nov. 18. By his share of capital stock at this date, brought over, L.2932 4 4 1806. May 26. By cash advanced per a loan from Win. Creech, . . 500 By two-thirds share of the profit on the half-year's trade, from Martinmas 1805 to Whitsunday 1806, . . . 419 15 4 L.S851 ID 8 10 APPENDIX. PRIVATE Dr. James Ballantyne 180G. APPENDIX. 11 ACCOUNT. With Ballantyne & Co. Cr. 1806. May 26. By balance of stock, brought down, L.2666 15 5 By sundries, the property of J. B. at Whitsunday 1805, not carried to his credit in the balance due to him then made, since brought into the stock of Company : — Share in the " English Drama," per cash paid Feb. 1805, L.35, and March 1805, L.30, on account thereof, . L.65 Paper furnished by him to the undernoted from his stock in hand, be- fore Whits. 1805, and paid into the funds of the Company : — Ledger, Page 3. Longman and Co., 13 quires royal, 6 reams slips, paid 17th Sept. 1805, . . 7 13 8. Constable, 8 reams dem., 18s., paid 20th June 1805, . . 7 4 Do., 20 reams do., paid 2d Aug. . 18 16. W. Miller, 6 reams do., 14s., paid 15th Nov., 4 4 18. Thos. Scott, Esq., yet unpaid, . 4 15 19. demy, 27s., . 4 14 6 20. W- Blackwood, yet un- paid, 3 4 4 Carry forward, L.114 14 10 L.2666 15 5 12 APPENDIX. PRIVATE Dr. James Ballantyne 1806. APPENDIX. 13 ACCOUNT. With Ballantyne & Co. Cr. Brought forward, L.114 14 10 L.2666 15 5 1806. May 26. Paper on hand at this Whitsunday 1806, the property of J. B. prior to Whits. 1805— 5 reams " Scenes of In- fancy," 35s., . 8 15 171 reams demy, " Kel- so," 26s , . 22 15 7 reams royal " Quarto Lay," L.4, 18s., 34 6 11 reams do., " British Drama," 45s., . 24 15 1 ream do. super extra royal, L.5, 5s., . 5 5 2 reams " Young'sNight Thoughts," 23s., 2 6 10 reams broke demy, 19s. 6d., 1 ream odd demy, 24s., 3 reams " Hill's Voca. bulary," 18s., 9 15 1 4 2 14 L.226 9 10 There was due from Alexander to J. Ballantyne, paper, per ledger, p. 23, previous to Whits. 1805, which is settled by the balance now constituted due by Alexander Ballantyne to the Company, of L.260, 13s. Id., L.160 11 Deduct from which a balance which was due at Whits, on a current cash account by James Ballantyne to Alexander, dischd. in Alexander's subse- Carry forward, L.160 11 L.2893 5 3 14 APPENDIX. PRIVATE Dr James Ballantyne 1806. Nov. 21. To cash drawn on his own account per the Company's ledger, L.428 19 2 To balance carried down, being the total of his capital at Marts. 1806, 3110 L.3538 19 2 1806. APPENDIX. 15 ACCOUNT. With Ballantyne & Co. Cr. Brought forward, L.160 11 L.2893 5 3 quent account with the Company, 100 19 1 59 11 11 Total of James Ballantyne's capital at Whitsunday 1806, . L.2952 17 1806. May. By his share of capital stock at this Whitsunday 1806, . L.2952 17 2 June 16. By cash advanced to capital, per Mary Bruce's loan, . 100 Nov. 21. By two-thirds share of the profits on the half-year's trade, from Whitsunday to Martinmas 1806, 486 2 L.3538 19 2 1806. Nov. By balance of capital, brought down, L.31 10 Dec. By cash received for " Collegium Bengalense," printed in 1804, . 3 10 By do., at settlement with Forster for prospectus, printed 1804, L.14 16 By do., charges on paper before do., . 3 7 18 3 1807. By cash received of Mary Bruce, and paid into stock the 5th July 1806, and April 18, 1807, per ledger, p. 62, . . 100 May 16. By do. do. . . 300 L.3531 13 IG APPENDIX. PRIVATE Dr. James Ballantyne 1807. May 25. To cash drawn on his private ac- count, per the Co.'s ledgers, from last Martinmas to this date, L.387 10 8 To balance carried down, being his capital stock at Whits. 1807, 3618 11 11 1807. z^rn Whits. To two-thirds salary, . L. 133 6 8 Nov. 25. To personal and other drafts, 771. 9 6 To balance, being stock at Martin- mas 1807, carried over, . 3552 3 11 L.4457 1 1808. To drafts from Martinmas to Whitsunday, . . 400 May 25. To balance carried down, . 3768 17 7 L.4168 17 7 1808. May, To two-thirds J. B. junior's salary, L.133 6 8 Nov. To drafts from Whitsunday to Mar- tinmas, . . . 546 11 7 25. To balance carried down, . 4191 16 8 1808. L - 4871 14 " Nov. 25. To cash drawn to repay John Bal- lantyne L.300 advanced by him 1809. on No. 10, St John Street, . 300 Nov. 25. To drafts from Martinmas 1808 to Martinmas 1809, . 1150 16 7 To balance carried down, . 3841 3 5 L.5292 APPENDIX. 17 ACCOUNT. With James Ballantyne & Co. Or. 1807. Whits. By capital brought over, . L.3531 13 By two-thirds share of the profits from Martinmas 180G to Whit- sunday 1807, . . 474 9 7 !. By capital brought down, >. By do. per Miss Bruce's loan, By two-thirds share of the profits, Whitsunday to Martinmas, By capital brought over, By two-thirds share of profits from Marts. 1807 to Whits. 1808, By capital brought down, By two-thirds profits from Whit- sunday to Martinmas 1808, By cash paid to stock as under : Sept. 27, per Alexan- der Ballantyne's loan, 500 Oct. 4. per do. do. 100 L.4006 2 7 1807. Whits Nov. 25 3618 300 538 11 8 11 2 1807. L.4457 1 Nov. 25. 1808. May 25. 3552 616 3 L3 11 8 1808. £.4168 17 7 May 25. Nov. 25. 3768 502 17 17 4 By capital brought down, By two-thirds profits of the year, By capital brought down, b 1808. L.4871 U 11 Nov. 25. 1809. Nov. 25. 4191 1100 16 3 8 4 L.5292 1809. Nov. 25. L.3841 3 5 18 APPENDIX. At a meeting of the parties, held 13th December 1809, these accounts having been examined, and the balance there- on accruing to each partner found equal, it was determined that the accounts should be closed, and their amounts, form- ing together the sum of seven thousand six hundred and eighty-four pounds, considered as the permanent capital stock of the Company, invested in buildings and materials, whereof each partner possesses one-half. It was further determined that the divisible profit on the trade should be, and remain until altered by another written minute in this book, signed by both parties, thirteen hundred and fifty pounds an- nually, whereof nine hundred pounds, being two-thirds, should be paid to James Ballantyne, and four hundred and fifty pounds, being one-third, should be paid to Walter Scott, Esq., and that the further balance of profit arising on the trade, should remain to discharge additions to stock made within the current year, in the first place, and thereafter to accumulate towards the permanent capital stock. /c . 1X f Walter Scott. (S.gned) | James BALLANTyNE . Edinburgh, 16th May 1812. — At a meeting of the copart- nery on this day, it was proposed that Mr Ballantyne, sen., on account of his services in the printing-office, should be al- lowed, while he remains in his present situation, the sum of fifty pounds per annum, the same to be charged as paid along with the wages and other expenses of the establishment. /e . JN f Walter Scott. (Signed) {j amesB allantyxe. APPENDIX. 19 No. II. Letter— Walter Scott, Esquire, to James Ballan- tyne. Abbotsford, 4tli May 1813. Dear James, I bave written John at length on the present state of affairs, instructing him that, unless better prospects should open, with a certainty of being very speedily realized, lie shall make sales at London on our quire stock (valued at L. 14,000) for at least L.2000, without minding what discount he is obliged to give, and that he shall exchange on the same stock to the extent of L.3000 or L.4000 more, with the pur- pose of selling off the books received in exchange for what- ever they will fetch in Edinburgh. Between these two ex- pedients we may raise L.4000 or L.5000, and obtain time finally to sell off every thing in December or January. The loss in discounts will be very great, but certainly it is better to submit to it at once than labour on in constant anxiety and apprehension. The loss of the whole sum I put into the business (L.1500) will not essentially injure my fortune, and I have no idea of asking you to bear any share of it, though you should have been welcome to your proportion of profit had any accrued. This is the only real and effectual cure for our embarrassments, and the contingent loss must be sub- mitted to. Mean-while, I have saved the copyrights, though at great loss and expense, and consequently retain all the power of serving the office, and, I trust, of providing for John also, although it must be under superintendence. When I come to town, we must have heard from John ; mean-while 1 hope, on Thursday, to have his London address from you. I have no expectation that he will be able to better my pro- posal. We shall then fix on some order for the printing- house affairs, securing you a proper (though it must be an economical) provision, until the debt is paid off. I should not greatly care were the whole quire stock sold for L.6000 or L.7000, though the last be 50 per cent under its estimated value ; but, sell for what it will, it must be sold, and by auc- tion, if no other way will do. To do without such a sale, 20 APPENDIX. it would be necessary to raise between L.4000 and L.5000 in the course of the next three months, and to keep that large sum floating by renewals for at least nine months or twelve months more, which is impossible in the present times. I did not like to propose this until I had given full time for John to try his own method. But when, after advancing about L.5000, I see the business totally incapable of carrying itself on, it is time it should be closed, at whatever loss. I flatter myself you will agree with all this ; — it is really a case of necessity, and must be treated as such. Mean- while, I will do all in my power to keep up the credit of the house until these affairs are wound up ; but I have neither the means to carry on these speculations farther, nor should I think it right, in common prudence, to do so. I have put this as a general proposition to you, my good friend, as you do not much admire figures ; but I have sent John an accu- rate state of the calculations on which I hold it expedient to sell off our stock at what it will fetch, and I know no argu- ments short of L.3000 or L.4000 ready money, which can controvert my data. I have only to add to what I have told you of business, that I trust you will not think I am acting either selfishly or pre- cipitately. I have not proposed stopping a business which was ex facie profitable to others as well as to me, until I made a very great struggle to keep it on. But I cannot support it longer, and any inconvenience directly affecting me would of course ruin the printing-office also ; to prevent which, the stock of J. B. and Co. must be sold for its marketable value, and all loss submitted to in silence. I will write on Thurs- day with the order. W. Scott. No. III. Missive Letter from Sir Walter Scott, Bart., to James Ballantyne, Printer in Edinburgh. Dear James, It appears to me that the contract betwixt us may be much shortened by an exchange of Missive Letters, distinctly ex- pressing the grounds on which we proceed. And if I am so fortunate as to make these grounds distinct, intelligible, and APPENDIX. 21 perfectly satisfactory in this letter, you will have only to copy it with your own hand, and return me the copy with your answer, expressing your acquiescence in what I have said, and your sense of the justice and propriety of what I have to propose as the result of our investigations and con- ferences. It is proper to set out hy reminding you that, upon the affairs of the printing-house being in difficulties ahout the term of Whitsunday 18 1G, 1 assumed the total responsibi- lity for its expenditure and its debts, including a salary of L.400 to you as manager, and, on condition of my doing so, you agreed that I should draw the full profits. Under this management the business is to continue down to the term of Whitsunday next, being 1822, when I, considering myself as fully indemnified for my risk and my advances, am will- ing and desirous that this management shall terminate, and that you shall be admitted to a just participation of the pro- fits which shall arise after that period. It is with a view to explain and ascertain the terms of this new contract, and the relative rights of the parties to each other, that these mis- sives are exchanged. First, Then, it appears from the transactions on our former copartnery that you were personally indebted to me, in the year 1816, in the sum of L.3000, of which you have already paid me L.1200, by assigning to me your share in the profits of certain novels ; and as there still remains due, at this term of Whitsunday, the sum of L.1800, I am content to receive in payment thereof the profits of three novels now contracted for, to be published after this date of Whitsun- day 1821. It may be proper to mention that no interest is computed on this principal sum of L.3000, because I accoun?. it compensated by the profits of the printing-office, wnich 1 have drawn for my exclusive use since 1816 ; and, for the same reason, such part of the balances as may remain due at. Whitsunday 1822, when these profits are liable to division under our new contract, will bear interest from that period. Secundo. During the space betwixt Whitsunday 1816 and Whitsunday 1822, I have been, hno, at the sole expense of renewing the whole stock of the printing office, valued at L.1700 ; 2do, I have paid up a cash credit due at the Bank of Scotland, amounting to L.500 ; and, 'Stio, have acquired, by purchase, certain feus affecting the printing-office pro- perty, for the sum of L.375, which three sums form together a capital sum of L.2575, for one-half of which sum, being 22 APPENDIX. L.1287, 10s. sterling, you are to give me a bill or bond, with security if required, bearing interest at 5 per cent from the term of Whitsunday 1822. Terlio. There is a cash-credit in your name, as an indi- vidual, with the Royal Bank for L.500, and which is your proper debt, no part of the advances having been made to James Ballantyue and Co. I wish my name withdrawn from this obligation, where I stand as a cautioner, and that you would either pay up the account or find the Bank other caution. The above arrangements being made and completed, it remains to point out to you how matters will stand betwixt us at Whitsunday 1822, and on what principle the business is after that period to be conducted. Imo. At that period, as I will remain liable personally for such bills of the Company as are then current, (exclusive of those granted for additions to stock, if any are made subsequent to this date, for which Ave are mutually liable, and exclusive also of such debts as were contracted before 1816, for which we are also mutually liable,) I shall retain my exclusive right of property to all the current funds of the Company, book debts, money, bills, or balances of money, and bills in bankers' hands, for relieving the said current bills, and indemnifying me for my advances ; and we are, upon these terms, to" grant each other a mutual and effectual discharge of all claims whatsoever arising out of our former contract, or out of any of the transactions which have followed there- upon, excepting as to the two sums of L.1800 and L.1287, 10s., due by you to me as above mentioned. 2do. The printing-office, the house in Foulis' Close, and all the stock in trade, shall, from and after the term of Whitsunday 1822, be held our joint property, and managed for our common behoof, and at our joint expense; and on dissolution of the partnership, the parties shall make an equal division of all balance which may arise, upon payment of the copartnery debts affecting the same. Ztio. In order to secure a proper fund for carrying on the business, each of us shall place in bank, at the aforesaid term of 1822, Whitsunday, the sum of L.1000, (to form a fund for carrying on the business until returns shall come in for that purpose)— I say, the input to be one thousand 4to. The profits of every kind, after Whitsunday 1822, (excepting works in progress before that period, and going APPENDIX. 23 on in the office,) shall he equally divided, it being now found from experience, that the influence and patronage which it is in my power to afford the concern, is of nearly the same ad- vantage as your direct and immediate exertion of skill and superintendence. bto. Respecting works which have been begun before the term of Whitsunday 182:2, but not finished till afterwards, I propose, after some consideration, the following equitable distinction : — Of all such works as, having been commenced and in progress before Whitsunday 1822, shall be published or sent out of the office previous to Lammas in the same year, I shall draw the profit, repaying the concern one-half of the calculated wages expended per sheet or otherwise on the said work subsequent to the term of Whitsunday. On the other hand, the profits of all such works as, having been commenced before Whitsunday 1822, shall not be publish- ed or delivered till after Lammas in the same year, shall be divisible betwixt us, in terms of the new copartnery ; you, in that case, repaying me the moiety of such wages and ex- penditure as shall have been expended upon such sheets or volumes previous to Whitsunday 1822. 6to. I think it would be highly advisable that our drafts on the business (now so flourishing) should be limited to L.500 per annum, suffering the balance to go to discharge debt, reinforce our cash-accounts, add to stock in case it is thought advisable, until circumstances shall authorize in pru- dence a farther dividend. It is almost unnecessary to add, that there must be the usual articles about the use of the firm, &c. But the above are the peculiar principles of the copartnery ; and I should be desirous that our mutual friend Mr Hogarth, your brother-in- law, and a man-of-business and honour, should draw up the new copartnery, coupling it with a mutual discharge. He will be a better judge than either you or I of the terms on which they should be couched to be equally binding ; and being your connexion and relation, his intervention will give to all who may hereafter look into these affairs, the assurance that Ave have acted towards each other on terms which we mutually considered as fair, just, and honourable. The letter which I wrote to you at the time of your mar- riage, in 1816, or about that time, explained completely the condition in which I then undertook the management of the printing-office, so far as cash matters were concerned; and as they were communicated to Mr Hogarth, he will recollect 24 APPENDIX. their tenor, in case they are not preserved. I think yon will find that they accord with what I now propose, and are in the same spirit of regard and friendship with which you have heen always considered by, dear James, Yours very truly, Walter Scott. Edinburgh, 15th June 1821. Mr Hogarth will understand that, though the mutual dis- charge of our accompts respectively cannot be pcrltaps effec- tually executed till Whitsunday 1822, yet it is not our pur- pose to go back on these complicated transactions, beimv perfectly satisfied with the principles of arrangement abovr expressed ; so that, if it should please God that either of us were removed before the term of Whitsunday 1822, the survivor shall not be called to account upon any other prin- ciples than those which we have above expressed, and which I, by the writing hereof, and you, by your acceptance, de- clare are those by which we intend these affairs shall be settled; and that, after full consideration, and being well advised, we hereby, for ourselves and our heirs, renounce and disclaim all other modes of accompting whatsoever. Walter Scott. Edinburgh, 22d June 1821. I hereby agree to the propositions contained in the prefixed letter, and am ready to enter into a regular deed, founding upon them, when it shall be thought necessary. James Ballantyne. No. IV. Statement as to the arrangement of the affairs of Messrs James Ballantyne and Company, and the transactions between Sir Walter Scott, Baronet, and Mr Jame; Ballantyne, at the commencement of the new contract of copartnery on loth May 1822. By the contract of copartnery, it is declared that the balance due to Sir Walter Scott by Mr Ballantyne, at Whitsunday 1821, on their previous transactions, amounted to L.1800: of which balance he wr.s to receive payment APPENDIX. 25 from certain funds therein referred to ; and that such part of the balance as remained due at Whitsunday 1822, should carry interest from that date. It is also declared, that, in consequence of Sir Walter having renewed the printing-office stock, paid up a cash- account due by the Company, and purchased up certain feus and paid arrears of feu- duty, Mr Ballantyne should be due him the half of the sum so expended, with interest from Whitsunday 1822. The following, therefore, is the state of the account be- tween the parties, arising out of the above arrangement as to their previous transactions : — Mr Ballantyne, Dr. to Sir Walter Scott. To balance due at Whitsunday 1821, L.1800 To half of the sums expended by Sir Walter Scott, as above, - - - 1287 10 L.3087 10 Mr Ballantyne, Cr. By amount of bills granted by Messrs Con- stable and Co. to Mr Ballantyne for his share of " The Pirate," and applied by him on account of the business of James Ballantyne and Co., L.1890 Deduct amount of bills drawn by Messrs Constable and Co. for expense of paper and print, which are to be retired by Sir Walter, L.577 1 8 Deduct also author's price, - 750 1327 1 8 562 18 4 Balance due by Mr Ballantyne to Sir W. Scott, .... L.2524 11 8 Mr Ballantyne is further due the sum of L.1629 : 1 : 6, being the balance due on his cash-book on 15th May 1822, at the close of his transactions under the old arrangement. As this cash-book was merely a state of transactions between c 26 APPENDIX. Sir Walter Scott and Mr Ballantyne, the above balance is due to Sir Walter ; but as it arose, in a great measure, from the accidental circumstance of the transactions, on the day they closed, having left a considerable sum in Mr Ballan- tyne's hands, which would speedily be extinguished by fur- ther transactions on Sir Walter Scott's account, the above balance is carried to the credit of Sir Walter, and the debit of Mr Ballantyne, in the books opened for the new concern. It is declared by the contract of copartnery, that Sir Wal- ter Scott shall remain personally liable for such bills and debts of the old copartnery as should be due and current at the commencement of the new, (excepting bills granted for addi- tions to the stock made subsequent to the date of the agree- ment, 15th June 1821, and also excepting debts contracted previous to 1816, for which bills and debts the parties should be mutually liable ;) and that, on the other hand, Sir Wal- ter Scott should retain the right to all the current funds of the Company, consisting of book debts, bills, &c. The actual liability for the debts at present subsisting, and for which the firm of James Ballantyne and Company is responsible, and the right to the current funds of the Com- pany, stand thus : — Sir Walter Scott is liable for the whole amount of bills payable, excepting a bill granted for printing-ink subsequent to the 15th June 1821, for which the new concern is liable. And Sir Walter, on the other hand, is entitled to the whole bills receivable which have not yet been negotiated, or which are deposited with Sir William Forbes and Com- pany, and to all the book debts, and balances due to the Company upon accounts. Of these debts, due by and to Sir Walter Scott, a list is to be made up, in terms of the contract. Mr Ballantyne is actually liable for the following debts : — To the Royal Bank, L.500. To Miss Campbell and Captain Mackenzie, L.400. Of which he is bound to relieve Sir Walter Scott when required. The parlies mutually (or, in other words, the new concern of James Ballantyne and Company) are liable for the fol- lowing, as having been contracted prior to 1816 : — To Messrs Bowie, heritably secured over the property in Paul's Work (balance), - - L.425 (This debt is in course of being paid up.) APPENDIX. 27 To Mrs Gibson, per bill, - - - L.400 (This is wanted up.) To Sir William Forbes and Company, per bond, 800 In opening the books of the new concern, those debts only- are entered for which the parties mutually, or the concern, are liable ; and, on the other hand, the only property enter- ed in the new books as belonging 1 to the Company, consists of the heritable subjects in Paul's Work and Foulis' Close, and the printing-house effects. All the current funds or debts now due to the Company, as they belong to Sir Walter Scott, will, when received, be placed to his credit in his account with the Company ; and all the debts for which he is liable will, when paid, be placed to his debit. The following are the works in progress at Whitsunday 1822, the division of the profits on which was to be regula- ted, according to the terms of the contract, as they should be finished before or after Lammas next : — Miniature Novels, by the Author of Waverley, 12 mo Romances, do. Miniature Poetry. Fortunes of Nigel. Edinburgh Annual Register. Gwynn's Memoirs. State Trials. Bellecour's French Exercises. Novelist's Library, Vol. IV. Chronological Notes. Hydriotaphia. Boece's Livy. Rome. Blackwood's Magazine for May. Peveril of the Peak. It has been arranged between the parties, with reference to the stipulation in the contract as to the division of the profits on the works in progress at its commencement, that the profits of the following shall belong to Sir Walter Scott, and the profits of the remainder shall belong to the parties mutually : — Fortunes of Nigel. Gwynn's Memoirs. 28 APPENDIX. Bellecour's French Exercises. Novelist's Library, Vol. IV. Chronological Notes. Hydriotaphia. Boece's Livy. Borne. Blackwood's Magazine for May. Peveril of the Peak. No. V. Memorandum as to James Ballantyne and Company's Accounts, 17th April 1823. There are now laid before Sir Walter Scott the books of James Ballantyne and Company, closed and balanced to 31st December 1822, with a balance-sheet ; and there are also laid before him the following accounts and states : — 1. Account-current, Sir Walter Scott with J. B. and Co., from 15th May to 31st December 1822. 2. Continuation of do. to 17th April 1823. 3. States of Sir Walter Scott's bills payable, bills receiv- able, and outstanding accounts for printing, at 17th April 1823. 4. View of proceeds of printing for the year from loth May 1822, to 15th May 1823. 5. Note of discounts paid on Sir Walter Scott's account, from 15th May 1822, to 17th April 1823. Balance- Sheet. The balance-sheet exhibits on one side the whole property of the company, and debts due to it ; and, on the other, the debts due by it ; and the excess of the property and debts due to, beyond the debts due by the company, constitutes the stock of the company, being L.1843 : 2 : 10, which be- longs equally to the partners. Sir Walter Scott's Account. In Sir Walter Scott's account, the first article stated at his debit is the sum due by him to Sir William Forbes and Co., for the amount of advances then due them on bills be- APPENDIX. 29 longing to Sir Walter Scott in their hands, L.2591 IS 3 And interest on do 109 9 5 This entry arises thus :— By Sir William Forbes and Co.'s account with James Bal lantyne and Co., the balance due them on 15th May 1822, was L.3459 18 10 Which sum includes interest previous to 1st January 1822, 68 7 Principal sum due Forbes and Co. at 15th May, per J. B.'s account of receipts and payments, • L.3391 18 3 Of* this sum there was clue by the company, being the amount of their bond of cash- credit drawn out, . . L.800 And the remainder consisted of advances on bills belonging to Sir W. Scott, as above, 2591 18 3 3391 18 3 Sir Walter Scott, therefore, was due to Sir William For- bes and Co. L.2591 : 18 : 3 ; and the company was due L.800 ; and they' are so respectively stated. The interest on Forbes and Co.'s account prior to 1st January 1822, was, L.68 7 And the interest from 1st January to 30th June 1822, per their account, was . . 101 8 10 Of this interest there is stated against the company, as interest on the bond of credit, - - - L.60 And against Sir Walter Scott, 109 9 5 L.169 9 5 L.169 9 5 In order to make this debt of Sir Walter Scott to Sir William Forbes and Co. pass through the company's books, Sir Walter Scott is stated as debtor to the company for it, by its being placed to his debit in account with the company ; while the company, again, is stated as debtor to Sir W. Forbes and Co., in the account opened with, that house. When, therefore, Sir Walter Scott's bills fall- ing due in Sir William Forbes and Co.'s, or other fund* 30 APPENDIX. belonging to him, are applied in payment of this debt, these funds are first stated as received from him by the company, and then as paid by the company to Sir William Forbes and Co. ; for instance, when a bill in Sir Wil- liam Forbes and Co.'s hands falls due, the amount of it is placed to the credit of Sir Walter Scott in account with the company, and to the debit of Sir W. Forbes and Co. in their account. In this manner, all the bills belonging to Sir Walter Scott which have fallen due at Sir William Forbes and Co.'s, appear at his credit in his account with J. B. and Co., in the same way as every other article of funds belonging to him which is received and intromitted with by the company. The first article at the credit of Sir Walter Scott's ac- count is the sum of L.1629 : 1 : 6 due by James Ballan- tyne. This sum was the balance which happened to be due on James Ballantyne's former cash-book when it was closed on the 15th of May. To make it pass through the company's books, Sir Walter Scott is stated as creditor to the company for it, while James Ballantyne, in his account, is stated as debtor to the company for it ; and, in this way, the com- pany accounts for it to Sir Walter, while James Ballantyne accounts for it to the Company. James Ballantyne's Account. In his daily transactions, J. B. finds it convenient to lodge the balances in his hands on deposit with bankers ; and, as it is unnecessary to open accounts with these bankers, he states such sums as being paid to himself as an individual. On the other hand, when he draws out money so lodged, for the com- pany's transactions, he enters the sum so drawn as being re- ceived from himself as an individual. On these receipts and payments interest is calculated, and the balance carried to his credit at the end of the account. It may further be explained, that the receipts and pay- ments from and to Sir William Forbes and Co., were at first stated in the way above mentioned ; but that, in con- sequence of the company having a cash-credit with Sir William Forbes and Co., and of their making a systematic- series of advances on the security of bills, it appeared ne- cesary to keep an account with Sir William Forbes and Co., which should correspond with the account with the company kept by that house. Sir William Forbes and Co., therefore, have been credited with their whole ad- APPENDIX. 31 vances, both on account of the cash-credit and bills, as these stood at 15th May 1822, and have been subsequently credited with all sums drawn from them ; while they have been debited with all bills in their hands falling due, and also with all payments made to them ; and, consequently, these receipts and payments, which had formerly been enter- ed in James Ballantyne's account, have been withdrawn from it by corresponding- entries on the opposite sides. Proceeds of Printing. From the view now exhibited, it appears that the net pro- ceeds of the business for the year to 15th May 1823, will amount to about L.3200. Of these proceeds an apportion- ment will take place between the partners, by proper entries in the account of each, calculating- the share belonging to each upon the principles laid down in the contract of copart- nery. State of Debts due by and to Sir "Walter Scott. The amount of bills payable now current, and to be pro- vided for by Sir Walter Scott, is L.33,954 11 3 Amount of* bills receivable is, L.6097 18 1 Outstanding printing accounts, 488 9 9 Balance on Sir Walter Scott's account, 2,052 14 2 L.36.007 5 5 Sum due by J. B., for which he has granted an assigna- nation of his life policy of insurance, - - 2524 11 8 9,110 19 Balance, L.26,896 5 11 There is also Sir Walter Scott's proportion of profits on printing to be placed to his credit in account with the company, and one-half of the stock of the company. Discounts Paid. The amount of discounts paid on Sir Walter's account from 15th May 1822, to 17th April 1823, being eleven months, is L.1146 : 19 : 3. Besides which, there is the expense of exchanges and stamps on remittances to Messrs Currie, and bill stamps. 32 APPENDIX. No. VI. Extracts from " Monitor," or Daily Memorandum- Book, kept by Mr James Ballantyne. July 12, 1816. Mr Scott furnished me this morning with the following note of demands and means to meet them. Means. Bill to be discounted by Hollingworth, . L.350 Do. renewed by M. and Miller, . . 120 Printing Reg., . . L.200 Sec. Bill, Cowan, . 414 Blackwood, . 100 714 If the above bills carried to Forbes, the over- draft, &c, due them, will be deducted from the proceeds, ..... L.1184 300 which will leave a deficit of about £40. Demands. July 31. Bill, .... . . Aug. 1. Do., Hollingworth, 3. Wages, 8. Bill, M. and Miller, 10. Cowan, 11. Wages, L.884 L.300 130 50 121 10 275 50 L.926 10 September 15, 1816. W. Scott, Esq. Sent him list of bills due, to 17th October inclusive, L.5171 Deduct — Bills deposited, . . L.729 Overplus bills with Forbes and Co., . . . 1000 Cash in hand, (including £190 to be retd. by Hollingworth), . 550 2279 L.2892 APPENDIX. 33 December 14, 1816. Messrs Dallas, Innes, and Hogarth, this day paid me L.500, which, with L.500 paid on the 30th November, and nine months' interest, makes £1038, 18s., for which Mr Scott in- dorsed to them his bill on James Ballantyne and Co., for L.1038, 18s., dated 14th December, and payable at nine months. This bill is entered in the bill-book. March 5. 1818. John Ballantyne drew on W. Scott, Esq., in order to raise L.1000, as follows : — 1. Bill at 3 months, 5th March, due June 8, £350 2. Do. at 4 months, do. due July 8, 350 3. Do. at 5 months, do. due Aug. 8, 350 April 3. Received from John B. in full of L.1000, to be advanced by him as per statement on p. 56, [above,] L 16 3. May 27, 1818. Messrs Cowan lent us, on letter, . L.1000 Sent Walter Scott, Esq., . . L.1300 March 29, 1819. Messrs Constable and Co. granted to "Walter Scott, Esq., two acceptances, payable at Brook's and Co.'s, London, as follows : 1. 25th Dec. at 6 months, 2. Do. at 7 months, Exchange on do. 40 days, Commission ^ per cent, Two Stamps, We granted them, in compensation two acceptances. 25th Jan., 5 months, Do., 6 months, • 9 L.388 388 10 L.4 5 1 18 17 L.776 10 7 9 9 tion, L..390 393 10 L.783 10 L.783 10 9 34 APPENDIX. (Same date.") Granted the following promissory-notes to W. Scott, Esq. 1. 25th Jan., at 6 months, . . L.265 2. Do. at 4 months, . . 300 L565 Dispatched these notes, with the preceding acceptances by Constable and Co., to Messrs Coutts and Co., in a letter from Mr Scott. April 17, 1819. Mr John Ballantyne has this day sent me the following note of bills, granted by him to Walter Scott, Esq., without value, with a request that they may be entered in my books. I have entered them accordingly. All entered in Memorandum- Book. L.250— due §9 May. 250— due §§ July. 250— due || Sept. The three last "bills of L.1000 discounted at Forbes and Co.'s. L.500 — due §£ June. Drawn from Ab- botsford while Jas. B. was there. [An error — I was not there.] L.360 — due ■& July. Given me lately to make cash of, which is done, and accounted for. April 19, 1819. W. Scott, Esq. Sent him the preceding note of bills, and the following note of those due in the month of May. May 5, Constable and Co. (exchange), . . L.439 " Do. do 450 8. Jas. B. on W. Scott, Esq., . . . 460 " Cowan's (renewal of L.320, due Feb. 5), . 300 11. Jas. B. on W. Scott, Esq., . . . 375 14. Constable and Co. (exchange), . . 470 Carry forward, L.2484 APPENDIX. 35 17. Cowans — paper, « Jas. B. on Walter Scott, Esq. 19. Do. do. 20. Promissory-note to Allan and Co a deposit of L.1840), 23. W. Scott, Esq. on John B., 28. Constable and Co. (exchange) forward, L.2484 300 393 365 ). (secured by . 1200 . • 250 . 465 L.5457 April 30, 1819, Sent Mr John Ballantyne the following bills, by desire of Walter Scott, Esq., for which Mr B. is to find cash. They are indorsed to John B. 1. Bill at 3 months, 27th Apr. Jas. B. on W. S., Esq., L.386 2. Do. at 4 do. do. do. do. 386 3. Do. at 6 do. do. do. do. 386 L.1158 July 3, 1819. This day received the following letter from John B., dated Abbotsford, 2d current: — " On looking over the bill account rendered by you, we find, as due 23d September, Constable and Co., exchange, two bills of L.317 : 18 : 6 each, . . . L.635 All the rest is right, and intelligible to Mr Scott, but this. But it does not appear where these bills were got, and where ap- plied. If they are three months' bills, they must have been given last week ; and if four months, about May, when they do not appear. Send a very particular account of them, who they were drawn by — if by him or you — where discounted, and how applied.'' In answer, I wrote as follows : — " The bills of L.317 : 18 : 6 were granted in exchange for two drawn as follows : — 36 APPENDIX. Bill at 4 months, 20th May 1819, W. Scott, E*q. on A. Constahle and Co L.320 Do. do. 26th May 1819, do. on do. 315 Two stamps, . . . . . . 17 L.635 17 " These bills were negotiated by Mr Scott himself, and the proceeds applied to his use. I do not know where they were done, and accepted these counter-bills in consequence of a verbal order from him. I could not have been enabled to give the preceding information, bad it not been supplied to me by Messrs Constable and Co." July 5, 1819. [Dictated by John B.] Note of the large exchange transaction with Archibald Constable and Co. We have drawn one bill, to fall due \\ October, L.523 Given to John B. " " one do. do. if October, 450 Discounted. " « one do. do. |g October, 335 Discounted, iuth June, 4 mo. " " one do. do. / ! T November, 370 Returned to C. & Co. " " one do. do. |f November, 462 " " one do. do. 2d December, 540 Given to John B. " " one do. do. §§ December, 480 Returned to C. & Co. L.3160 To compensate which, we have accepted as under : — 1. Bill at 6 months, 15 April, due H Oct. L.654 2. Do. do. 14 June, due || Dec. 486 1 1 3. Do. at 7 months, 6 May, due § Dec. 533 9 4. Do. at 8 months, 1 March, due J Nov. 416 5. Do. at 9 months, 22 Jan., due || Oct. 654 6. Do. at 10 months, 30 Jan., due 3 i> JJ™"' j 416 L3160 APPENDIX. 37 (Same date.) Constable and Co.'s note to Walter Scott L.500, being the renewal of one of the bills granted for the new Paul's Let- ters, I am to discount, on receiving it from Mr Scott in time to enable them to retire the original bill. July 26, 1819. Sent Mr Scott as follows : — Demands up to 9th August inclusive, Provision, . Yet to provide, February 14, 1820. Meeting at Trinity,* Monday, February 14. Means. Jas. B. and Co. on John B., 6 months, Acceptance W. S., Esq., at 3 months, Do. do. do. Bill to be done at Galashiels at 4 months, John B.'s draft of 2d March, Apply to Constable for bill of ... This just now. — Two in March of same amount. Feb. 21. « 23. « 26. Mar. 2. Demands. W. Scott, Esq. (discounted by Cowan) Jas. B. on W. Scott, Esq., Do. on do., John Ruth v en, . Jas. B. on W. Scott, Esq., Wages and discount, L.3398 3255 L.143 L.208 450 500 350 235 L.1743 L.480 L.500 350 350 63 350 120 L.1733 Means for March 1819. Bills for Monastery, .... Constable renews .... Mr Scott renews in London, L.3200 1000 50O Mr John Ballantyne's residence. These meetings, for the purpose of pecuniary arrangements, were attended by Mr Scott, and by Mr Con- stable or Mr Cadell. 38 Mar. APPENDIX. Demands for March 1819. 6. Constable, .... L.488 7. W. Scott, Esq., 250 " Cowan, .... 300 8. Constable, .... 498 10. Do 488 M Sundry small accounts, 1000 Mr Scott accepts for this 14. Constable, .... 488 19. W. Scott, Esq., . 250 20. Hay Donaldson, 350 21. Joseph, .... 428 " John B.'s advances, . 235 « Mr Scott due 3d March to do., 250 a Do. due 23d do. 260 " Four weeks' wages and accounts 400 L.5685 March 11, 1820. The following is a copy of a letter which I have this day received from Mr John Ballantyne : — « March 9, 1820. *'. I beg your insertion through your books, and attention to what follows ; the same being to-day advised by me to Mr Scott, and having his approbation. I have paid his order to Constable and Co. L.100 And agreed to advance, in the course of April, to his orders to you, . . . 2500 There are due for charges, . . . 63 13 6 L.2663 13 6 " To compensate these advances, I have drawn, and he has accepted, as under : — 1. Bill at 3 months, dated 17th March, due June 20, 2. Do. at 4 months, dated 7th March, due July 10, . 3. Do. at 4 months, dated 10th March, due July 13, . 4. Do. at 4 months, dated 14th March, due July 17. . 5. Do. at 4 months, dated 18th March, due July 21, . L.500 500 ">70 570 523 13 6 •L.2663 13 6 APPENDIX. 39 I have entered all these acceptances in my books accord- ingly. August 22, 1820. Sent, for discussion, state of ways and means for Sep- tember. Demands, L.8930 Means, — New engagement,* L.4500 Abbot, 2800 Hogarth's bill [for printing Weekly Journal], 600 Bills on Constable, 500 9257 Balance over to October, L.327 October 31, 1820. Letter to Mr John Ballantyne. On checking your note of bills with my bill-book, I find the following do not appear there : — 1821. Jan. 4 L.876 " " 23. Acceptance for cash lent, . . 500 L.1376 For the first you say you find funds ; but, as they ought both to go regularly through my books, I will thank you to furnish me with a state of the particulars of these bills, as drawer, acceptor, indorser, date, and time. When I reflect how many bills I have paid for Sir Walter Scott on verbal orders, or mere notes, which I thought no more about, I abso- lutely quake for the aspect under which I might be considered were he to die. Thousands upon thousands might be brought against me ; and all I could say would be, " Well, gentle- men, where are they ? My manner of life is well known — I have not spent them ; my cash accounts are open — they are not there." Of late I have been more careful ; but even yet I am sure there are some of his transactions which I am called upon ultimately to pay, which have never appeared in my books, and which, if rigidly scrutinized, would make an igno- * Engagement with the publishers for a new work. 40 APPENDIX. rant accountant like me stand upon character alone. Many is the hour's vexation and alarm this gives me. Pray, supply the regular information respecting the above quam primum. March 21, 1822. Sent off— Demands for April, . . . . L.l 1,530 Means. Renew, secured by deposit, . . L.2683 Printing-office bills, . . . 1200 Constable and Co., L.3000; Sir W.S., L.3000, 6000 Deficient, 1647 L.11,530 July 15, 1822. Demands for August, ... . L.6647 Means. 4 bills on Sir W. S.— L.750, . . L.3000 2 do. on Constable, 500, . . 1000 Renewable, 2000 Printinsr-office bills, ... 700 L.6700 March 25, 1823. Demands for April, in all, L.8160 Means. Printing bills, L.1000 4 bills, J. B. on Sir W. S„ . ■ 3000 4 pro.-notes to Do. from Constable and Co., 3000 2 do. do. to Do. from J. B. and Co., 1500 L.8500 N.B. These last, if convenient for him, to be negotiated by Sir W. S. April 21, 1823. Scheme for May. Demands, • L.8392 APPENDIX. 41 Means. Printing bills, including p. and copies of Durward, L.1000 3 pro.-notes, Constable to Sir W. S., 2100 3 bills, J. B. on Sir W- S., . . 2100 Defective, 3192 L.8392 No. VII. Letters from Sir Walter Scott to James Ballantyne, respecting bill transactions. [Written in 1817, from the allusion to Rob Roy — no date.] Dear James, John will inform you all our matters have been finished in great style. I inclose some copy. The exigencies of the month are thus provided for. They amount, I think, to L.1700. John gives me two bills to London, L.350 each, L.700 I enclose one, for which he says you will get cash at the Royal Bank, where he has credit, . . 350 L.100O The other balance of L.700 must be renewed by acceptances, which must be sent to me forthwith, 700 L.1700 / have not had a note of receipts and payments this long time: — pray, do not require jogging on this important point. It is but little trouble, and may prevent much mischief. With November R. R. comes in, if I should immure myself to get through with him. Yours truly, Monday morning. W. S. My English bills will be back on Saturday, so make your calculations to have the cash on Monday. d 42 APPENDIX. July 26, 1819. Balance to 9th August, by Mr J. B.'s last render- ing, . . . , . . • • m . L.4606 Add Veitch's bill, believed to be due early in Au- gust, 1000 L.5606 Deduct Constable's bill on 5tb, which we have no thing to do with, by renewal or otherwise, Total balance to provide, . Provision. J. B. has in hand, Discount of a bill of Constable's, Another to be discounted, Cash already received from John, Do. which will be transmitted immediately, Bills on W. S., Do. to be accepted, .... John is to return Constable's bills from Lon- don, L.1433. on which, by arrangement, it may be possible to get about L.1200, If Constable's bill on 9th is not among those already renewed, it may be, which will add Leaving a balance of I think I can take on me to say that, if John returns the bills, / can, by altering the shape, make thou available at least as above. 1 hope the newspaper will put the debt in some tangible shape or other, for long credits on open accounts do not at all answer. Turn over, and see this scheme rectified. I have just received your letter, and one from Jobn, which alters the result of the "foregoing statement in two ways, as under — • 493 . L.5113 L.450 480 700 300 1150 380 1200 46(i0 L.453 • 400 L.53 APPENDIX. 43 Total balance stated, about . . . L.5113 But deduct Veitch's bill, held at . . 1000 L.4113 Provision stated at ... L.4660 But therein Jo. Ballantyne's remittances are taken at L.1000 And bills to be returned by him are supposed to produce . . 1200 L.2200 Whereas, in fact, his 1st re- mittance was . L.700 And his 2d, including bills returned, is, he writes me, 1200 1900 Whence falls to be deducted from my calcu- lation of provision .... L.300 4360 Balance in favour of provision, . . L.247 I do not think this can fail, with moderate attention. You are rid of Constable's renewal of L.493, which may be sup- plied by part of John's returned bills. Constable's people ought not to have asked a renewal of this bill ; it was a catch at your ignorance of the transaction. I speak to this on next page, which you may show them if you will, tear- ing off this state. Do not write, but call on them. [The following Letter accompanied the foregoing State.'] Dear James, / enclose you a scheme founded on yours, and as I trust you have already John's additional L.300, and the bills, of which I desire an exact memorandum without delay of a post, I think I have arranged the provision on the worst supposition, i. e. your having, as I strongly suspect, missed out Veitch's bill. There is no renewal due on my part on Constable's bills of 5th August, L.494, and 13th August, L.495. They are two stock-bills — granted, that is, for the stock taken with the 2d Tales, and the stipulated credit is long out. This was fidly explained to Messrs Constable by Mr John Ballantyne. The two bills were renewed in April last, when they were 44 APPENDIX. beyond credit, and when, by-tbe-by, I paid the discount, which is still due to me by Messrs Constable. You will not, therefore, renew either of these bills. But if Messrs Constable want any accommodation of tbe same kind which they very frankly grant us, you will of course be ready to oblige them. But to discount their bills, and get them the money, having so much of their paper, cannot be expected. I request you to lose no time in explaining this, in case Messrs Constable should be relying on this, which, however, ought not to be the case, John's explanation having been ex- plicit. I shall be glad if you will send to John by speediest con- veyance a copy of Carey ; if by to-morrow, so much tbe better. You never told me it was ready. Mention at the same time the number of impression, retaining 20 copies for me. I mean, mention this to John as well as to me, as he will have to dispose of the work in London. Your state- ment of the demands in August, from 17th to 31st, omits no less than one bill of Constable on exchange, due 19th, for L.482 And one by James B. on W. S., indorsed to John B., 27th August, 386 L.868 Have the goodness to look into this matter. I return the proof-sheet in a separate cover, with additional copy. Yours truly, W. Scott. Abbotsford, Sunday. I am glad the presses come on well. Close attended to, they ought to do a great deal this year. Certainly it is wise to get on every thing as fast as possible during the pause of Ivan. Aug. 2, 1819. Dear James, I observe your unpleasant dilemma, out of which I trust to help you. It is indeed at the unpleasant alternative of anticipating funds designed for the end of the month and beginning of next ; but the thing cannot be helped. What is perhaps worst of all, is the delay of the paper for Ivanhoe — had I known of it ! — but this avails little now. APPENDIX. 45 Upon receiving this you will restore to Mr Constable the bills which you find difficulty in discounting-. I will draw on him for L.450, which I am pretty sure to get at Galashiels, and for L.350, which I trust to get at Jedburgh. The for- mer sum I trust to send you by Monday's post. But, in order to get the other, my draught must be returned accept- ed. I wish to know whether the L.400 due 11th has been renewed or discounted. I can easily discount it with Coutts. In the predicament in which credit stands, Mr Cowan, must give us grace on the L.220 bill until we can get out Ivanhoe. But for that blasted blunder about the paper, two months would be sufficient. Mr Cowan's accompts have been so regularly paid, that he cannot refuse us such an ac- commodation at this very peculiar time. I will instruct John how to send you down L.230, or thereabouts ; and I can procure farther funds in London on Constable's acceptance, as above mentioned. Our supplies will then stand thus : — Galashiels, L.440 . Jedburgh, 340 Cowan, 220 Cash in J. B.'s hands, ..... 309 1309 This will be effectual before the 7th. But I doubt John being able to send his L.230 till the 9th or 10th, Coutts, at L.500, Demands to 11th, Balance of Provision, .... L.36 I have no doubt of realizing all these funds, except Cowan, whom you must take in hand. I will draw the bills on Con- stable myself, and advise them by to-morrow's post. Mean- while, please give them up those in your hands. Aug. 2, 1819. Dear James, I enclose a draught for L.440, and will lose no time in 46 APPENDIX. sending you the proceeds of the L.350 which I sent yester- day for acceptance, so soon as I get it back. Your provision will then stand against the 7th, — In cash, ....... L.309 Remitted enclosed, .... 440 Farther remittance when bill reaches, 345 Mr Scott will also send .... 200 Cowan 225 L.1519 You will be still short about L.150, wages included. I have written to Constable to lend you this till you receive it from John, who has about that sum to remit to you. You will see him to-morrow, and tell them if you will need this cash on the 7th ; for if you can provide yourself elsewhere it will be better. I shall have L.400 for you by the 11th, and plenty of cash afterwards, as I make an arrangement to avoid banks for some weeks. I am only concerned about the delay of Ivanhoe ; but tlje men must work double tides to get it forward. Yours truly, w. s. 2d August, Abbotsford. Nov. 1820. Dear James, Here I am, and will be with you to-morrow. There is a bill of Constable's, not in your book, to be renewed on Tues- day, which I will do for him ; but, as I have short time, I may want the aid of L.100 for a couple of days. I have L.250, which makes up the sum. I wish you would meet me in Castle Street at one to-mor- row. I have to speak about my land payments. We can take a coach and go to John, whom 1 would like much to see. Yours truly, Arniston, Sunday. W. S. APPENDIX. 47 [1820.] Dear James, Your bawling makes me secure of what I did myself some- what hope — that I was, viz. in the right road. But I must see to keep up the interest ; there are ample materials, but the story is a dismal one. Your demands for September were exceeded by the means by ... .... L.327 And you computed as resources — Cadell, L.340 Printing bills, 1000 Constable, 2000 On me, 2000 5340 L.5667 Against this was the demands of the month, 6900 Minus, L.1233 Let me know if this is all right. If John, poor fellow, is well enough, he can probably renew a bill of mine for L.500 on 28th, . L.500 And the remaining balance I can easily supply on your notes or Constable's, . 800 1300 If K[enilworth] succeeds as its predecessors, I will go on, and take a new engagement in January, which will chalk off all these renewals to a trifle. Let me know when you un- dertake to be out with K. Yours, &c. Sunday. -yy. S. [1820.] Dear James, What you say of the Episode is very true, but I do not like to cut the train of Queen Mary's vestment. I fear the volume will run to 370 pages. John writes me he has provided discount for the bills arising out of this work, amounting to L.3200. But I do not know if he reckons on getting the whole on Longman's 48 APPENDIX. bill, or if he can equally avail himself of those to be relieved from Sir W. F.'s house. This needs enquiry ; for, if we do not make the exchange proposed, I fear we must make it up some other way. It occurs to me some of the bills of Long- man for the Monastery might be relieved, and put into Sir William's, instead of those arising from the Abbot, alway supposing that John expects the latter. This you perhaps have learned from him. After this L.3200 comes the next engagement — L.4500 — all, or almost all, ready money. In October or November, I suppose you will have P. Office bills for L.1500 ; at least there is, besides the newspaper, L.700, and at a later period print and bills of Kenil worth, L.2000, and at least L.1000 reversion on bills pledged under value. Altogether L. 12,000, and more forthcoming by Christ- mas. Affairs were therefore never in a better posture. But there will be some work for this next fortnight, till you can get the book out. Cowan may notice that there is a new work on the tapis, and though I don't think we should buy the paper ourselves, if he comes handsomely forward he may get a preference. My own powers of helping, unless in very hard pinch, are not great just now, being pretty deep in all my banks. It is whimsical enough to be pressed, with L.8000 certain in three weeks' time. It will be necessary we see each other (John also, were it possible), to get all these matters overhauled for the September payments. I could come in for a day, ra- ther than he ran the risk of fatigue. Believe me, truly yours, Walter Scott. Dear James, _ [1820.] I wrote fully to you, addressing to Bridge of Earn, which I trust you had. I then said that, on the receipt of the L.1000 of Constable's bills, which I drew for, and L.650 of John's, which I also drew for, I could be answerable for about L.1300 or L.1400. The unhappy delay of your let- ter for three days pinches me as to time ; for though I shall have L.600 in time for the 16th, I cannot have the balance before receiving the bills, sending them to London, and get- ting back Coutts' answer. But I will have the balance — say L.700 — long before the 21th ; and I can even help with advancing L.200, if you are at a pinch, on the 16th — only let me know in time. John's arrangement about the bills of Abb. cannot be dis- APPENDIX. 49 turbed, and you must tell Sir W. F. the truth — i. e. that your brother had made a more advantageous arrangement in Lon- don. You will not, I think, need their accommodation for some time, when, by exchange of bills or otherwise, it may be possible to vary the state of the account. John's last letter to me mentions he had secured the ne- gotiation of L.3200 on the proceeds of the Abbot ; it has now dwindled to L.2500. How is this ? By my computa- tion the latter should be nearest to the mark — say L.1800 for print and paper, and for your bills L.1000. In calcula- ting the means for September, do not forget you have to re- pay Mr Hogarth ; also to repay any advance which may be made this month for temporary purposes. It is necessary to look very close to this, because September falls heavy, and all our means have been in active exercise. As you will not need to trouble Cowan just now, he will be the more willing to aid us in October or November in exchange of printing- office bills or the like. Referring you to my last of" yester- day for farther enquiries and particulars, I request you will look over both letters, and answer them point to point with your convenience. I am glad you are at home, and to remain ; for your pre- sence will be necessary to get things forwarded at the P. O. I think we may still be in proof about 20th, and send you something towards that happy consummation. You may ex- pect the whole by Sunday's or Monday's post. Yours, &c. 11th August. W. S. Dear James, [1821.] I am returned, and enclose the proofs. I cannot recon- cile your state for May with my book. There are about L. 10,000 or under in my book — add wages, &c, L.500. To pay this sum of ... L. 10,500 There is new affair . . . L3500 Printing Nigel, and copies, at least 2000 5500 Leaving only - L.5000 This balance, you will also observe, must be minus any P. O. bills which you get in ; and I suppose the romances and other things will be out in May. 50 APPENDIX. I enclose a bill of Constable's (actual) for L.1000, of which I shall send the contents about the middle of May ; but send it in time. Yours truly, W. S. Aug. 9, 1821. Dear James, I am much obliged by your attention to my puppy com- mission, which I have no doubt will ensure the safe delivery of the dogs. About John's share of the publications, the case stands thus : — Before you had an interest in these matters, John and I halved the profits of the reserved share, except, I think, in one instance, when I gave the whole to him. When you wished to be put on a level with John, which I thought very reasonable, I gave you my interest in that moiety. As John's share has since reverted to me, I wish, in the next instance, at least to secure a fund for fitting out my brother's son for India. The share reserved will therefore be in the Usual form, but no advance will be required on the half share, which you will hold in trust for me. And I think, on the whole, you will have enough to do in keeping up your ad- vances on your present share — the share which was John's, you will hold as my trustee. You were quite right about the bill. I should be glad we had a meeting, any time next week, to settle our matters. The Blucher could bring you out on Saturday, and return you on Monday, unless Mrs Ballantyne came with you, whom Lady Scott and myself would be very happy to see. Yours truly, Walter Scott. Sept. 15, 1822. Dear James, You would receive mine of yesterday covering L. 1500, or thereabouts. In the end of this month, or early in the next, I will send you the other L.500. I also return your enclosed note accepted ; and I suppose, with these, you can get well enough through September. APPENDIX. 51 For October, my plan is as follows : — There is due you say about Against this I mean to set, in the first place, a new arrangement. Peveril will and must be out about the middle of October, and, if the purchasers are called on for early ad- vances, I can give them a month's more leisure than usual. Inde, . Printing Peveril, and your copies, . I should hope you may be able in the course of the month to make up of printing bills, off or on, Funds not subject to renewal, I can manage of Constable's bills and yours You say you can do. of his, . Remains to be provided on my acceptance, or Constable's bills with my indorsation, L.12,000 L.3500 1800 700 L.6,000 2000 2000 2000 L.12,000 Let me know what you say to this scheme, which seems to me plausible. I have so little personal debt of any kind, that I really have no fear of getting what sums may be wanted. The banks are obviously desirous to prevent such frequent renewals of large sums, and we must contrive to trouble them less. In November there seems no heavy incumbrances. How- ever, I have myself to pay L.2500, but of that the half and more is provided, and 1 can borrow the rest easily enough. I should be happy to see you here one day soon, avoiding Tuesday or Thursday, on both which I am engaged. I send you proof by to-morrow's Blucher ; and am Always yours, Walter Scott. Abbotsford, Sunday. Dear James, I return the bills, and, in computing actual debts, will chalk off the incumbrances of March and April. Please to 52 APPENDIX. mark in my booh those bills which are only cautionary foi other discounts. Yours truly, W. Scott. Castle Street, Friday. Dear James, I enclose the bills ; — be cautious to Jill up the dates with ink of the same description, for bankers look sharp to this. By the scheme, L.1000 of acceptances from me were to be granted. This makes about L.500 more ; but I observe there is L.340 of balance unprovided for, and the discounts will do much to the balance. I wish you always, however, to keep your eye on our weekly settlements, and never to de- part from them without mentioning the reason, otherwise you must be aware they go for nothing. You do not see with sufficient force the extreme propriety of this, to which, how- ever, I must beg your close attention. I enclose some scribble, and will perhaps send you some more. Yours truly, W. S. Nov. 1, 1822. My Dear James, I enclose some letters, which you can throw into the post- house. Also I send you a lot of copy, with the proof this day received. I see no occasion for you paying your own input into Sir William Forbes : it only makes a double transaction. If you debit yourself with the sum as received by you on my account, and credit yourself as paid on account of the business, what needs more ? I do not understand if you reckon on the proceeds of Pe- veril as part of the month's funds : it will certainly be out. Nor do I know if you compute your own input ; but I con- clude you do. That some of Constable's bills should be granted payable to me, and indorsed by me to you, seems an unexceptionable mode of passing them. The others may be drawn as you propose. I will keep in my eye the assistance you want in February or March ; but I will have my new affair out in January. APPENDIX. 53 I shall not come to town till 18th. Make your party any day after that. I have L.2500 to pay this season, last in- stalment of land. For this I have L.1500 provided, but I shall want a bill of yours for L.500, and of Constable for the like sum, at three and four months, which I can easily make available. Yours truly, 1st November. Walter Scott. No. VIII. Edinburgh, January 16, 1826. Note of James Ballantyne and Company's acceptances to Messrs Constable and Company, current in Edin- burgh and London, at the above date. 1826. Jan. 19. At Curries, Raikes, and Co., Lon- don, L.921 3 10 24. Do. . 847 12 7 30. Do. . 676 4 4 Feb. 7. In Edinburgh, 956 3 8. At Curries, Raikes, and Co. 832 14 9 « Do. . 937 14 11 12. Do. . 852 10 18. Do. . 910 « In Edinburgh (Travels), 1000 Mar. 4. At Curries', .... 750 19 9 5. Do. .... 709 15 4 8. Do. .... 681 9 4 7. In Edinburgh (Travels), 1000 10. At Curries', .... 907 12 15. Do. .... 892 18 10 18. Do. .... 913 14 9 21. Do. .... 720 4 7 22. Do. .... 881 4 6 23. Do. .... 913 14 9 30. Cash to Constable, to provide for their p. n. (446, B. R.), due in London, 2d April, . Carry forward, . L 833 6 8 .17,139 1 i\ 54 APPENDIX. 1826. Brought forward, L.17,139 1 11 April 3. At Curries' 829 4. Do. ... 923 14 4 7- Do. ... 728 14 8. Do. ... 779 15 14. Do. ... 931 ]4 7 20. Do. ... 709 15 4 25. Do. ... 681 4 27- Do. ... 937 14 ]1 29- Cash to Constable to retire 447, B. R., due in London 3d May, 833 6 8 May 5. At Curries, Raikes and Co., 924 4 7. Do. 728 14 10 8. Do. 910 18. Edinburgh, pp. of Crusaders, 500 30. Cash to Constable, to provide for their p. n. 448, B. R., 833 6 8 June 7. At Currie's, 728 14 18. Edinburgh, pp. of Crusaders, 505 18 4 L.29,624 11 3 Amount of James Ballantyne and Company's acceptances to Messrs Constable and Company, as per preceding state- ment, for which Sir Walter Scott, as an individual, was liable, . ... L.29,624 11 3 Hurst, Robinson, and Co.'s acceptance to James Ballantyne and Co., without value, 666 13 4 Sir Walter Scott's acceptances to James Ballantyne and Co., .... 16,272 19 10 Gross amount of Sir Walter Scott's liabili- ties, had Constable and Co., and Hurst, Robinson, and Co. remained solvent, L.46,564 4 5 This amount, however, was increased as under, in consequence of the insolvency of Hurst, Robinson, and Co., and Constable and Co. : — Hurst, Robinson's and Co.'s acceptances to Constable and Co. for L.5000, advanced Carryforward, L.46,564 4 5 APPENDIX. 55 Brought forward, . . L.46,564 4 5 by Sir Walter Scott through the latter, and which if solvent, H. R. and Co. would have retired L.5000 Hurst, Robinson, and Co.'s acceptance to J. B. and Co., for value, . 563 15 10 Constable and Co.'s accep- tances, which, if solvent, they would have paid, 36,478 15 5 42,042 11 3 L.88,606 15 8 Thus, if Archibald Constable and Company, and Hurst, Robinson, and Company, had not become bankrupts, Sir Walter Scott's liabilities would have amounted to L.46,5o4, 4s. 5d. ; but, in consequence of the bankruptcy of these houses throwing back upon him the acceptances which, if solvent, they would have paid, his liabilities were increased to L.88,606 : 15 : 8. No. IX. SIR WALTER SCOTT'S ACCOUNTS. 1st.— DISCOUNTS PAID ON ACCOUNT OF SIR W. SCOTT. [Referred to as Account No. I. in the "Refutation."} [These discounts are confined entirely to bills drawn for the accommo- dation of Sir Walter Scott, and do not include discounts on real business bills, or on the bills received by Mr Ballantyne for his share of the Novels, the proceeds of which, being floating for the accommodation of Sir Walter Scott, should properly have been included.] L.37 2 8 1822. May 29. 30. 31. forward, L.12 1 12 7 12 14 6 2 June 1. 5. 19 13 15 18 (i Carry L.35 11 6 L.37 2 8 56 APPENDIX. Brought forward, L.35 11 6 L.37 2 8 1822. June 18. 16 11 4 20. 7 5 2 « 7 11 9 24. 7 6 7 25. 5 11 <« 13 9 93 6 4 July 3. 12 16 2 4. 9 8 5. 11 19 8 11. 6 19 2 a 6 9 3 13. 9 18. 6 18 8 19 3 30. 5 6 3 30. 5 10 8 83 6 5 Aug. 3. F.* 19 9 tt Ro. 9 2 7 6. S. 10 17 6 7. Ro. 11 18 6 21. 3 8 10 27. H. 4 2 28. T. 4 3 3 31. 9 18 11 « 14 3 6 87 4 i Sept. 3. 6 1 6 4 7 3 6. 20 14 3 c< 9 4 3 14. 9 5 it forward, 9 7 4 Carry L.61 15 4 L.300 19 6 • These letters are printed as they stand in the bill-book. It is not now remembered what F., Ro., and S., indicate; but the H. and T. dis- tinguish promissory-notes granted by Constable and Co. to Sir Walter Scott for two works (a book of Travels and a History of Scotland) which he never wrote. The bills, consequently, were continued by re- newals, and were current when the houses stopped. 1822. Sept. 14. 16. 17. Oct. 1. 2. 2. 4. <( 9. U 10. 15. 16. Nov. 1. 2. 6. 8. 9. 16. 22. 26. 27. Dec. 4. 5. 1000 Carry forward, L.5914 14 76 APPENDIX. Dr. Sir Walter Scott, Bart. 1823. Brought forward, L.5767 12 9 June 7. To cash, . . . 148 13 " 10. To paid his bill to George Hunter, 150 " 14. To remitted to London, on his ac- count, . . . 266 2 6 « 30. To remitted Coutts and Co. (ex- change L.l, 19s. 4d.), on account of his son's commission, . 351 19 4 July 8. To paid promissory-note, for his use, 500 " 10. To do. do. . . 450 « 19. To paid Smiths' (builders) bill, 300 Aug. 1. To remitted Coutts (exchange L.l, 5s. 2d.), on account of his son's com- mission, . . . 351 5 2 " 9. To Arthur and Fynnay, . 482 2 6 " 11. To retired pro. -note, for his use, 450 O " " To remitted to him in London, 110 " 14. To retired pro.-note, for his use, 600 Sept. 3. To account to Mitchell and Heriot, straw-hat makers, . . 50 8 « 6. To Smiths' (builders) bill, . 300 Oct. 1. To fourth instalment on shares of Waterloo Hotel, . . 30 8 2 « « To sundries, . . . 2 8 « 4. TopaidG.H.Gordon,L.25,tobacco,4s.6d.25 4 6 " 8. To retired bill to Cockburn, wine- merchant, . • . 467 5 6 " " To cash (to Abbotsford), . 16 Nov. 3. To Smiths' (builders) bill, . 450 " 12. To remitted to Lieut. Scott (ex- change 5s.), . . 50 5 « 17. To cash paid into Leith Bank, 317 18 " 22. To retired pro.-note, for his use, 750 Dec. 8. To cash, . . . 100 " 19. To cash sent him, . . 250 1824. Jan. 6. To builders' bill, . . 300 « 29. To whisky, . . . 2 4 « 10. To Terry, . . . 105 10 3 Feb. 11. To Coutts, on Sir W. S.'s account, 243 9 « 27. To builders' bill, . . 300 Carry forward, L. 13,673 13 5 APPENDIX. Sir Walter Scott, Bart. Or. 1823. Brought forward, L.5914 14 2 June 3. By cash from Constable and Co., 1500 « 6. By do. do. do. 1189 Sept. 24. By draft on Coutts, 580 « " By cash from Fee Fund, 250 Nov. 12. By Constable, 840 Q « « By Exchequer, 148 11 3 « 19. By Constable, 820 « 26. By do. 840 Dec. 22. By Fee Fund, 150 Carried forward, L.12,232 5 5 78 APPENDIX. Dr. Sir Walter Scott, Bart. 1824. Ap. 27. May 13. " 14. « 15. June 12. " 17. '•' 26. July 3. Aug. 12. Sept.21. Oct. 4. « 7. Nov. " Deo. 9. " 11. « 18. « 28. 1825. Jan. 12. « 14. Feb. 9. " 15. '< 18. " 19. Mar. 12. " 14. « 18. April 1. " 13. " 20. " 30. May 13. « 21. Brought forward, To builders' bill, To pro.-note paid, for his use, To Coutts, for his use, To do. do. To bill to Johnstone and Co., To Lieut. Scott, To builders' bill, To Sir Wm. Forbes and Co., To builders' bill, To Marshalls, jewellers, To bill on London, To builders' bill, To cash, To life assurance, To builders' bill, To bill to Patterson, founder, To life assurance, L.13,673 450 500 500 250 306 50 300 1200 300 25 200 450 100 105 300 355 170 « 23. 20. To Coutts, for Lieut. Scott's com- mission (exchange L.5, 4s. 6d.), 2042 To cash, . . . 100 To Coutts, for Sir W. S.'s use, 501 To do. do. . . 501 To note, do. . . 500 To paid acceptance to Baird, . 275 To note to self, paid . . 500 To Oil Gas shares, . . 70 To Edin. and Leith Glass shares, 200 To Smiths, builders, . . 300 To note, paid . . 500 To expenses of loan from D. Hogarth, 37 To Minet and Stride, for his son's commission (ex. L.3, 18s. 3d.), 1503 To cash, ... 100 To Lieut. Scott, Bombay engineers, 30 To G. H. Gordon, . . 25 To cash, ... 130 To D. Hogarth, interest, . 60 To Kirkintilloch Railway shares, 40 To Leith Glass do., . . 250 13 5 15 11 13 4 8 3 16 8 2 1 4 6 8 8 9 10 2 6 10 Carryforward, L.26,905 14 11 APPENDIX. 79 Sir Walter Scott, Bart. Cr. 1824. Brought forward, L. 12,232 5 5 Sept. 21. By Fee Fund, ... 250 Dec. 27. By George Hogarth, . 2000 Jan. 6. Do. do. : . 1000 Feb. 3. Do. do. . . 1000 Mar. 28. Do. do. . . 1000 [Loan of L.5000 to Sir Walter Scott by D. Hogarth.] April 28. By cash, . .500 Carryforward, L. 17,982 5 5 80 APPENDIX. Dr. Sir Walter Scott, Bart. 1825. Brought forward, L.26,905 14 11 May 26. To Misses Fergusson, dressmakers 63 << « To cash, , 300 U K To Wm. Howison, writer, , 75 June 1. To builders' bill, . 400 (1 *' 9. To A. Elder, 40 (1 '< 10. To cash to self, 100 « 29. To Falkner and Thomson, wine- merchants, 94 July 6, . To cash to self, . 150 u tt To do., letter of credit on Boroughs and Co., 300 u « 7. To account to Ewart, Prince's St., 16 8 (1 « 8. To cash L.67, stamp 4s., 67 4 « 9. To do., to credit with Leith Bank, 100 « « To sundry accounts, viz. Milne, brassfounder, L.250 Johnstone, grocer, 150 Isaac Bayley, . 176 Dicksons and Co., seeds- men, . . 4 1 1 Connal & Son, perfumers, 1 13 6 Bonar, colourman, . 6 7 7 Geo. Cotton, tobacconist, 9 19 6 W. and C. Tait, . 19 14 6 Pringle, butcher, . 44 4 C. Bayley, chemist, . 25 6 Charles M'Lean, draper, 39 10 9 Misses J ollie, dressmakers, 91 1 7 Spence, perfumer, 38 6 Thorburn, grocer, 8 11 11 Miss S. Brown, dress- maker, . . 65 2 7 Brown, china-merchant, 100 " 9-12. Nicolson and Hay, paint- ers, . .250 Rankin, glass-manufac- turer, . . 23 Cochrane, do. . 15 Mackay and Cunningham, 25 5 17 4 6 Carryforward, L.1344 14 7L.28,6116 11 APPENDIX. 81 Sir Walter Scott, Bart. Cr. 1825. Carried forward, L. 17,982 5 5 July 8. By cash from Constable and Co., 1100 9 9. Do. do. do. . 1000 L.20,082 6 2 82 APPENDIX. Dr. Sir Walter Scott, Bart. 1825. Brought forward, L. 1344 14 7 L.28,611 6 11 M'Leod, cutler, . 8 6 Adie, optician, . 10 16 Scott, plumber, Kelso, 101 July 13. Gardner, apothecary, 4 18 Dr Ross, . 12 Misses Johnstone, dress- makers, . 24 8 " 18. Misses Jollie, do. 68 Misses Brown, do. . 28 1 2 6 Pringle, butcher, , 38 8 8 Thomson, for hay & corn, 33 12 6 1666 2 5 " " To cash paid Mr Charles Scott, . 50 « 30. To builders' bill L.300, Pigot L.l, 5s. 301 5 Aug. 1. To builders' bill, . . 300 " 2. To Cockburn's (wine-merchant) bill, 425 12 5 " 3. To Coutts, to Sir W. S.'s credit, 100 8 Aug. 3. To John Gibson, W.S., L.300, Mr Gordon L.8, . . 308 " 16. To paid note for his son's commission, 550 « " To bill to Baird, . . 275 " 30. To paid note for his son's commission, 550 Sept. 2. To cash to Terry (exchange L.l, 8s.), 501 8 " 15. To Monkland Railway shares, . 20 9 " " To Water Company, . . 40 Oct. 1. To builders' bill, . . 400 " 13. To note for Sir W. S.'s use, . 525 " 22. To Wilsons, Bannockburn, for carpets, 141 " " To Monkland Railway shares, . 10 Nov. 9. To paid bill to Constable and Co. at Curries', pro L.832 : 12 : 7, and exchange on do., on account of Sir W. Scott, the bill being thus taken out of the circle by the loan from Ro- bert Allan and Co., as per contra, 834 1 7 6 " 12. To Lady Scott, . . . 25 " " To George Hogarth, . . 100 " 16. To cash to Sir W. Scott, . 150 " 16. To Insurance, . . . 22 16 " 26. To Scottish Union Stock, . 104 1 7 Carryforward, L.36,011 18 APPENDIX. 83 Sir Walter Scott, Bart. Cr. 1825. Brought forward, L.20,082 6 2 July 27. By Exchequer fees, . . 149 7 6 Oct. 31. Exchequer fees, . . 149 7 6 Nov. 9. Loan from Robert Allan and Son, to be repaid 28th, . . . 832 12 7 Carryforward, L.21,213 10 9 84 APPENDIX. ■Dr. Sir Walter Scott, Bart. 1825. Brought forward, L.36,011 ]8 7 Nov. 28. To repaid Robert Allan and Co., sum lent on 9th, and interest, . 834 15 11 Dec. 1. To Smiths, builders, . . 300 " 3. To cash L.50, stamp 2s. 6d. . 50 2 6 " 12. To Life Assurance, . . 102 16 8 " 29. To do. do. . . . 151 1826. Jan. 3. To loan to Constable and Co. . 1000 " " To paid bill Constable and Co. at Curries', on account of Sir W. S., the bill being taken out of the circle by the loan from Alex. Ballantyne, as per contra, . . . 798 19 1 " 4. To do. do. at do., pro L.832 : 14 : 0, taken out of the circle to the extent of L.600, by Curie and Erskine's loan, .... 600 " 5. To repaid D. Smith and Co., loan of 28th November, and interest, . 1005 4 2 " 7. To paid Sir W. Scott's acceptance to J. B. and Co., taken out of the circle by A. Cowan and Son's loan, . 746 13 4 " " To a further portion of Cowan and Son's loan, applied in retiring two bills at Curries' to the extent of " 13. To do. do " " To cash, per draft on Leith Bank, " 14. To loan to Constable and Co. " 16. To repaid A. Cowan and Son's loan, with interest, the bills held by them in security being given up, . 2002 17 6 " " To repaid Alex. Ballantyne's loan, with the expenses incurred by him in raising the money, . . 800 17. To repaid Curie and Erskine's loan, 600 235 10 5 2000 50 1000 Sum, L.48,289 18 APPENDIX. 85 Sir Walter Scott, Bart. Cr. Brought forward, L 21,213 13 9 1826. Oct. 28. Loan from D. Smith and Co. to repay the above, to he repaid 5th January, 1000 Dec. 29. Loan from Alex. Ballantyne, . 770 Jan. 3. Loan from Curie and Erskine, . 600 " 4. Loan from A. Cowan and Son, on se- curity of bills handed to them, . 1000 " 7. Do. from do. further, on do., . 1000 " 11. Constable and Co. on account of cash to them on 3d, . . 500 " " George Hogarth, raised on loan, 7000 Balance, being excess of payments over receipts on Sir Walter Scott's account, . . . 15,206 4 5 L.48,289 1 Be APPENDIX. ABSTRACT OF Dr. Sum at Sir Walter Scott's debit in ledger, previous to com- mencement of this account, . . L.561 10 8 Sums deposited with hankers, here and in Lon don, for Sir Walter Scott's private use, 3280 Drafts in London, for private use, . 2281 James Ballantyne and Co.'s notes to him for do. 7465 Cash paid to him, in sums varying from L.50 to L.350, ..... 3240 Paid bills for Avork at Abbotsford, . 7246 Insurances paid for him, L.555, 6s. lOd. — In- terest, &c, L.360, 18s., . . 916 Cash paid Mr Terry for him, . . 606 Paid instalments on his stock in various com- panies, .... Paid his acceptances to sundries, as under : — Creelman Hunter, Arthur and Fynnay, Johnstone, Howieson, writer (cash), Cockburn and Co., wine-mer- chants, Falkner and Thomson, do., L.318 150 482 306 75 892 17 94 765 17 1] 2318 13 Sundry accounts, for work done at Abbotsford by painter and brassfounder, household ac- counts, and accounts to Lady Scott's dress- makers, . . . . 1798 9 Sums paid on account of Lieut. Scott's com- mission, .... 5349 7 Loans to Constable and Co. in January 1826, 4000 Bills taken out of the circle by means of loans, 3216 Repayment of these loaus, . . 3240 Repaid A. Cowan and Son's loan, and interest, 2002 17 L.48,289 18 2 APPENDIX. 87 FOREGOING ACCOUNT. Cr. Sums received on account of Sir Walter Scott, as per foregoing account, . L.33,083 13 9 Balance, being amount paid for him more than received on his account, . . 15,206 4 5 L.48,289 18 2 88 APPENDIX. No. X. Orders and Directions by Sir Walter Scott, for Payment of Money on his Account. Dear James, I will write you fully to the matter of criticism. Mean- while I enclose my receipt for cash due me in Exchequer to the amount of L.150. If the promissory notes which I wrote for arrive to-day, as I trust they will, 1 will remit you L.500 more, and will request of you, supposing you can make up till Monday the balance of L.350, to send to-morrow if pos- sible, for a post is of consequence, the total of L.1500 by bills at sight, to Messrs Minet and Stride, 21, Austin Fryars, London, to the credit of Major Lane, King's Hussars, and you will request them to advise Major Lane that such pay- ment has been made ; and do you yourself, without losing a post, drop a note to Walter, addressing W. S., Esq., King's Hussars, Barracks, Dublin. In both cases you will remem- ber the payment is by my order. The notes have come, and I write by post, enclosing the L.500. Yours truly, Walter Scott. Abbotsford, 29th April. Dear James, The L.600 : 17 : 6 may be remitted on Tuesday by you to Messrs Greenwood and Co., Craig's Court, London, on my account, to answer bills to that amount drawn by my late brother, Mr Thomas Scott, paymaster of the 70th regi- ment — all of which you will take care to express. Yours truly, W. Scott. Abbotsford, Sunday. Dear James, I hope you got proofs and a little copy regularly. I send you more enclosed, and will get on, I trust, regularly. I hope to be out in December, so calculate accordingly. APPENDIX. 89 I must draw on you, through Galashiels, for L.350, to meet my own purposes, which please to accept. I am here for a day with Lord Advocate, but set out after breakfast, Yours truly, Walter Scott. Saint Catharine's, Wednesday. Dear Sir, Please to settle the enclosed accompt, Falkner & Co., for L.94 odds, and place the same to my debit in accompt. Your obedient servant, Walter Scott. Edinburgh, 29th June. Mr James Ballantyne, printer, Edinburgh, Canongate. Dear James, I will be obliged to you for twenty-four pounds sterling, being for a fortnight's support of my family. Yours truly, Walter Scott. Castle Street, 23d January. Mr James Ballantyne. Oct. 15, 1820. Sir, You will find beneath an order on Mr James Ballantyne to settle your account by payment or acceptance, which will be the same as if I did so myself. I could wish to be fur- nished with these bills before they exceed L.50, for your convenience as well as mine. I am, Sir, Your obedient servant, Walter Scott. Abbotsford, 13th October. ) Mr Blackwood, &c. / Sir, Be pleased to settle with Messrs Blackwood, mercers, &c, Edinburgh, an accompt due by my family to them, amounting in sum to L.218 sterling, and this by payment, or k 90 APPENDIX. ;i bill at short date, as most convenient, and place the amount to my debit in accompting. I am, Sir, Your obedient servant, Walter Scott. Abbotsford, 13th October 1820. If Mr Thompson will take the trouble to call on Mr James Ballantyne, printer, Paul's Work, Canongate, and show Mr Ballantyne this note, he will receive payment of his accompt of thirty- three pounds odds, for hay and corn due by Sir Walter Scott. Walter Scott. Castle Street, 8th July. My Dear James, Of the cash in your hands, please pay the instalments to the Kirkintilloch railroad. Also the following : — Instalment to Glasswork Company, due at the British Linen Company or Commercial Bank, uncertain which — sum L.250. Into the enclosed letter for Mr Howieson put L.75, and send it as addressed. Pay into Ramsay, Bonar, and Company L.63, to account of Misses Ferguson, and state it is by my hands. The balance you can send me in cash, as I will have some- thing to do therewith to-morrow. W. S. Railroad, .... L.40 Glasswork, .... 250 Mr Howieson, ... 75 Ramsay's account, Misses Ferguson, 63 Sir Walter Scott, ... 300 L.728 Dear James, I will be obliged to you to send L.22 odds to the Scottish Insurance for my premises at Abbotsford. I think I will want about L.100 more, for wages and other Martinmas de- mands, which you may send when convenient. By'r lady, you may make it some L.150. Yours truly, W. S. APPENDIX. 91 July 8, 1825. Dear James, I was at Constable's yesterday, and found all right. Can- celling all former orders, I send a list of accompts and pay- ments to be made. Those to Isaac Bayley, L.176, and Leith Bank to my accompt, should be made early. You will get the L.2000 on application. I enclose the rules, and expect you at three o'clock. I expect you at four, and am, dear James, yours truly, W. Scott. Dkar James, I forgot to ask you if you minded my Glasshouse input, L.200, I believe, and the enclosed for Oil-gas. I am going to Abbotsford to work hard. W. S. July 13, 1825. Lady Scott, with best compliments to Mr Ballantyne, takes the liberty of enclosing him two of Miss Scott's bills, which have been omitted being added with her own, and might occasion some difficulty in the settling of them, as Misses Jollie and Brown are giving up business. Lady Scott has many apologies to make for giving all this trouble, and having also to request that, when he is so obliging to settle her account with Mr Pringle the butcher, that he would also settle her last account with him, that she may be quite clear with him. Lady Scott thinks that her second account will amount nearly to L.40. Castle Street, Saturday Morning. No. XI. Letter. — Mr George Hogarth, Writer to the Signet, to Mr James Ballantyne. P. O., Tuesday, 5th October. [1824.] My Dear James, I came over here to see you, but find you are not yet ar- rived. I go to Glasgow to-morrow morning for a few days, and wish, in the mean time, that you would immediately let Sir W. S. know that the L.50U0 can be had on the terms we talked of. He may either have the whole L.5000, or a smaller 92 APPENDIX. sum, as he may think proper. The matter is left to be arranged by me according to my own discretion ; and, there- fore, though I am satisfied that Sir W. S.'s personal bond, with an assignment to a policy of life insurance, is enough to make the transaction perfectly safe, yet I should like, to make the security quite tangible and business-like, that you should join in the personal bond. The assignment to the life policy does not become of any value unless in the event of Sir W. S.'s death, and it might be considered too loose a proceeding in me to take nothing that would be available, during his life, but his own mere personal bond. As far as you are concerned, your joining in the bond can be of no moment. You are already engaged for those debts of Sir Walter which this money is to be employed in diminishing ; and, besides, as the death of Sir W. is the only event from which embarrassment could, by any probability arise to you from these engagements, you are completely secured against the consequences of that event, by the Life Insurance Office having immediately to pay the money. The interest should be 4^ per cent ; and, from what passed between us, I told David Hogarth that rate would be given. I shall be home by Sunday or Monday, by which time you may have communicated with Sir W. on the subject. You can tell him what the expense of his life insurance will be, as you know his age. Yours ever, Geo. Hogarth. No. XII. Letter. — James to Alexander Ballantyne, containing extracts from a Letter from Mr Scott, and from the an- swer to it. Edinburgh, 23d Sept. 1814. My Dear Sandy, I have a letter from [Mr Scott] , in which he expresses himself as unprepared to agree to the transfer of the house to you, saying, " I own I think it questionable how far money borrowed for the advantage of a partner ought to be guaran- teed by the company. As it so stands, Mr B. must take the chance of the other creditors. I cannot think of sanctioning any arrangement which would dispose of your house in his APPENDIX. 93 favour, and to the prejudice of others ; and, if you will con- sider it in this point of view, you must be sensible it would be an improper transaction. The matter may lie over till we meet." Well, I suppose you are quite willing to take the chance of the other creditors ? You have the bills of James Ballan- tyne and Company ; and cannot lose. I shall answer 's letter triumphantly. He talks of it as " an improper trans- action." Why, sir, he has, at this moment, an obligation from us in his possession, binding us to give his brother se- curity over the printing-office, for money advanced as part of his stock, and for which he regularly received 15 per cent. That plain tale should put him down, methinks. For here, he re ceives this enormous interest as a partner, running all rsiki ; and he takes an obligation for a security which would prevent the possibility of his running any risk. How that should be a wrong transaction applied to my brother, which he thought a right one when applied to his brother, my blunt intellects cannot see. So, no more of this. I rest here, that you cannot lose in the long run. You have, as above said, the bills of the company ; and the company can pay. Most assuredly, you can draw interest at only 5 per cent. We have too well got over the bond transaction, to renew the same difficulty with the bills. They are new securities, untainted by the vice of their predecessor, and must be kept so. In haste, yours, J. B Extract of a Letter from — — [Mr Scott], dated 24th Sep- tember 1814. " You seem to think that, in making arrangments for clearing off your brother's debt, you give him no preference. I ask you, for what other creditor of the concern you are making similar provision ? All those who advanced money to me would be equally glad, I promise you, to be paid, and I can hardly keep some of them quiet. Yet their money, to five times the amount, was equally advanced to the concern as this L.1000 of Mr A. Ballantyne ; and I presume the cir- cumstance of its having passed through your hands instead of mine, can give you no special right of preference. I pre- sume your brother's pinch not to be extreme, since he was willing to take the house instead of cash ; so I conceive he 94 APPENDIX. wants security rather than money. But if he choose to stop the house, of course he may. It is wholly in his power ; for I cannot be responsible for paying these bills when they be- come due. Every farthing of my salary you have long re- ceived from the Exchequer as it fell due ; and I assure you my family live bare enough. But I repeat it, if your bro- ther choose to stop the house, it is quite in his power. He will hardly increase his chance of speedy payment, which seems morally certain if he choose to give time. The blow, too, will come from an unexpected quarter, but many uncom- mon things happen in this world ; and he certainly may have the credit of ruining a man who has done, or at least tried to do, something for his family, with his two brothers into the bargain. I do not suspect you of any wish in this matter to pay off your own near relation at the expense of me and mine, and leave us all to the chance of the distress and disgrace which may happen, if all the spare funds go off to make good this obligation. You appear to have been a kind brother to him, and are surely entitled to some forbear- ance from him, and I cannot doubt that you will ask it. More unpalatable applications are wrung from me every day of my life. I put the case, that you have been misled in this mat- ter by a very natural wish to comply with your brother, who as naturally wishes to have his money ; and truly sorry am I that it is impossible he can have it in the time and manner proposed, with any justice to others or safety to the con- cern." . . " I wish to God you could send me L.25 or L.30 just now, as I am almost penniless. You know where my last quarter from Exchequer went." Extract from the Answer to the preceding, and to a former Letter, the contents of which may be gathered from what follows. Dated 25th September. " The very serious nature of the charges implied against me in your remarks upon the proposed transaction with my brother, Alexander Ballantyne, not only authorizes, but com- pels me, to be open and explicit in my answer to them ; and I anxiously trust, that my earnestness in my own vindication will not be misconstrued into the slightest feeling of irrita- tion or of disrespect. I am conscious of neither. " You state your surprise ' at finding a debt you never heard of, starting up in Air A. Ballantyne.' My answer is APPENDIX. 95 very short and simple. The different sums composing that debt were regularly entered into the cash-book as they were received ; and are now to be found there, with their applica- tion on the opposite side. They made a necessary part of every state of the company's cash concerns that was submit- ted to your inspection ; nor is it for me either to comprehend or explain how that should be the only debt that escaped your observation. That the other debts due by me, those to Mrs Gibson and Mrs Bruce, should be more frequently spoken of, I can easily understand ; because it was necessary always to hold these as it were in the eye, in case of a de- mand for them ; whereas it was needless to use the same precaution in regard to my brother's, as I knew that he never would distress or embarrass me, but would rather struggle, as he has struggled, with distress and embarrass- ment himself. As to any idea of concealment, I shall only say that there was no concealment ; that every publicity was given to the transaction that figures could give it. In truth, there was no need of concealment. You say further, ' you think it questionable how far money, borrowed for the ad- vantage of a partner, ought to be guaranteed by the com- pany.' My answer to this will consist of several remarks. In the first place, the money was borrowed, because the com- pany needed it at the period when it was borrowed ; and it could not have been obtained otherwise than by the use of the company's firm. Indeed, I recollect no one period, du- ring the continuance of this unfortunate adventure, when that firm would not gladly have been given for an advance of cash from any quarter. And if [alluding to a former let- ter] that security was consented to on the part of the two ladies, what reason could be assigned for refusing it to my brother ? The application of the money was nothing to him. He gave it to the firm, upon the security of the firm. But this may seem only to exculpate him, leaving me still charge- able with the blame of giving the company's security for a sum advanced for my private advantage. Now, as to this, it could not possibly occur to me that I was doing wrong ; because the fact was before my eyes, that you had yourself demanded and obtained, and actually held, an obligation to vest the property of the printing-office in your brother, Major Scott, as security for a sum advanced by him to you, and by you to the business in the way of loan, for which the trade- interest of 15 per cent was regularly paid to your order, and for the arrears of which you have, of course, an accumulating 96 APPENDIX. claim at this moment. Here, then, was the Company's heri- table security impledged (for the obligation to impledge was, I presume, equivalent to an actual impledging) for a debt borrowed, certainly ' for the benefit of a partner,' and actu- ally, for a period, productive of very considerable advantage to that partner. I am ready to own, that I may be entirely mistaken in my inference ; but I must really say, that I am at present wholly unable to perceive the nicest shade of dis- tinction betwixt the two cases. Yours led the way in point of priority of time ; and, when you demanded the security, I well remember the unhesitating cheerfulness with which I gave it. In point of judgment, I may be wrong; we may both have been wrong ; but this I will take it upon me boldly to say, that you yourself were not freer from any undue bias in favour of your brother, than I was from any in favour of mine. With regard to the application you wish me to make to my brother for delay, certainly I shall make it, for the motives are very strong. He thinks much more of my kind- ness than I do myself; and he chooses the time to show his sense of it when I am wholly left without further power. He is not ambitious of the credit of ruining either his brother, or a man for whom his regard approaches to veneration ; and I think I may venture to say in his behalf, that no blow to strike down our establishment will come from his hand. Were he not my brother, I should say he had behaved nobly in this business. He struggled for many months with his own difficulties rather than increase ours ; and at length left it to me to fix the date of the bills at my own pleasure. I took nearly three years for the payment. As the matter now stands, I request I may be completely understood as taking burden for both when I say, that the house in St John Street is yours, to dispose of as you please, and shall think most conducive to the general good of the concern ; and for my brother, I think I may say, that nothing but his own necessi- ties will ever drive him to distress or embarrass us. He will not doubt, any more than we ourselves doubt, that his security must be ultimately good." I have yours this morning. To the preceding extracts I shall make no addition. I shall attend to your letter. J. B. APPENDIX. 97 Letter. — James to Alexander Ballantyne. Carfrae, Thursday, 7th Nov. 1816. My dear Sandy, I was a few days since at Abbotsford, and had an unplea- sant discussion with Mr Scott touching the money borrowed from you, for which you received the company's security. By referring to the extracts from the correspondence which took place on this subject three or four years back, and which I think are in your possession, you will judge whether I did not make out the best of the cause. However, it is now very important to me to remove this cause of dissatis- faction from his mind ; and I will therefore venture to ask from you what one could only ask from a brother, and per- haps only from such a brother as I have ever found you to be — I request you to give me up the company securities, and accept in their stead my personal bills for the L.500 still due you. I do not forget that you have a wife and children, whose interests are not to be injured by any feelings of kind- ness towards me ; but, since the connection I have formed with Mr Hogarth, it is really impossible that my security will not be ultimately as good, for so small a sum, as even that of the company. I will say no more, but only request your answer as speedily as possible, as the thing lies very heavy on my mind. I shall anxiously expect your answer by to-morrow's fly, ad- dressed to me at Edinburgh, where I am to be for a day. I return here on Saturday, where I wish heartily you would meet us. Ever yours truly, [Note by Mr A. Ballantyne.] I wrote James that I agreed to his request. J. B, A. B. UNIVERSITY OF CALIFORNIA LIBRARY 14 DAY USE RETURN TO DESK FROM WHICH BORROWED LOAN DEPT. This book is due on the last date stamped below, or on the date to which renewed. Renewed books are subject to immediate recall. FEB 3 1 198Q SSep'62T0| RECT) LP ffiC. SIS. MAR 1 6 AUGlb'G4-aPM MIL 1 2198 4 — -4 6 JAN £B6 ^ECCIPJUL 91984 FEB n " 7999 WXXr t'65-lP* M MAR 11 1369 5 2 receiv ED M »lV69>ttW L nftN PEP" 1 "- LD 21A-50»n-3,'63 (C7097sl0)476B General Library University of California Berkeley I U. C. BERKELEY LIBRARIES CDSn5bflDE •■224905 «£*.&% Wtf