The day your Ladyship went to Beachworth I was at Kensington to wait upon you; intending at the same time to inform you that we have had a Proposall made to us with respect to Carolina, of so much advantage to the Proprietors that my single share may amount to Thirty Thousand Pound. The Terms of Agreement your Ladysp: will find inclosed They are drawn into Form, and already signed by Lady Granville for her son My Lord Carteret; by Mr Bertie Guardian to the Duke of Beaufort; by Mr Danton and my self.
I expect opposition from some of the Ministry And since it has been rumour'd abroad that the Proprietors were upon some project of this sort I have had a message from Secretary Craggs to know upon what Terms we would part with our Interest in the Province. Before this was thus rumoured abroad, They took no notice of us, imagining to distress us, and make us part with it, for little or Nothing, to them. Then would all the advantage be their own, either by disposing of the Province by Subscription, or by giving it up to the South Sea for ten times as much as they would allow the Proprietors whose Familys raised this Province to England.
There's no doubt of our succeeding in case the Court favours us, or but let us alone. I have no reason to question your Ladysps interesting yourself in this matter if it were only a concern of mine; but I think it must needs be of more weight with those you apply to in case your Ladysp. can speak of it as a concern of your son and his family; and to enable your Ladysp. to treat it as such, I doe assure you I will give any Security that it shall be so If we can obtain what may be worth securing. I begg your Ladysp therefore that since we have a prospect of obtaining something soe considerable you would please to interceed with Ld Stanhope and others for their favour upon this occasion to my Nevew and his Family.
And I propose to your Ladysp. whether it would not be proper to acquaint Judge Eyre with the thing and desire his assistance in it. Your Ldsp. may observe the advantage likely to be made by the Gentlen concerned in the Bahama Islands; and who have only a Lease from us are the Proprs The Carolinas are a foundation for a much greater thing, and are of ten times the value: And no man has a just title to anything if the Proprietors have not a Title to Carolina. We make no secret of our being in Treaty for Carolina, but we mention no particulars.
Give me leave now Madame to make your Ladysp a request for our Brother Proprietor Danton. He has a mind to be concerned a thousand pound in the next subscription into the South Sea, He desires your Ladysp's recommendation and gave me the enclosed List of Names. If your Ladysp have any acquaintance with any of the Gentlemen, he desires your Ladysp to request the favour of a thousand pound in the subscription for me. And I willingly lend him my name. If your Ladysp. think proper to make the request. He hopes to have your Ladysps Answer soon.
I begg your Ladysp to present my humble service all good wishes to my Nevew; and to my Cozen Fenwick and I am
Madam your Ladysps
London June the 4th 1720.
1. The Proprietors to part with their rights, powers, &c. (except what they have already granted) in consideration of £250,000. Agreed to. The unserveyed 32 Baronies being given up by the Lords Proprietors.
2. In case a Charter cannot be procured to abate £20,000
of the aforesaid sum.
3. The Lords Proprietors to be allowed a liberty to subscribe
into the joynt stock a share not exceeding ¼th part of
4. If the province be disposed of all together: The advantage
over and above the purchase money paid to the Lords Proprietors
to be equally divided between the Lords Proprietors and purchasers
5. If the province be disposed of by subscription the Lords
Proprietors to be allowed one-third part of the advantage. The
6. One month to be allowed for taking or refusing.
7. If the purchasers accept at the months end, then to pay down in part of payment the sum of £10,000.
8. The rest to be paid upon signing for which three months to be allowed.
Nos. 6. & 7 & 8. Instead of these articles agreed that three months be allowed for taking or refusing. And that upon accepting £10,000 be paid down. And that the rest be paid upon signing.
9. The Lord Carteret, Palatine and the rest of the Lords Proprietors
to be parties in the government of the Province, and to be eight
of the managers of the company's affairs during the term of three