<513r>
An Account of the loss which his Majesty may sustein by renewing, for seven years, the contract with Cornwall & Devonshire for Tynn, now voyd by her late Majesties death.
| Paid annually for 1840 Tunns of Tyn at 3£ 9s pr cwt sta wt | 126960. 0. 0 |
| Freight to London | 1840. 0. 0 |
| Salaries in London | 1350. 0. 0 |
| Incident charges in London, as Porters &c | 200. 0. 0 |
| Passing Accompts &c | 94. 0. 0 |
| Salaries in Cornwall & Truro | 1540. 0. 0 |
| Incidents in Cornwall | 700. 0. 0 |
| Insurance & other unforeseen accidents | 1000. 0. 0 |
| Total yearly expence | 133684. 0. 0 |
| | |
| Yearly income by selling about 1350 Tuns Averdup. pr annum at 76£ pr Tun | } | 102600. 0. 0 |
| |
| |
| Yearly excess of the expence above the income | 31084. 0. 0 |
| Excess in seven years 217588. | } | |
| Interest arising by this excess 40000. | 257588. 0. 0 |
| The late Queens debt upon the Tynn paid in the two first years | 191200. 0. 0 |
| Interest upon this payment till the end of the contract | 63400. 0. 0 |
| Total expence above the Income | 512188. 0. 0 |
| Tin left by the late Queen - 5200 Tuns averdupois |
| Tin which will be received by the King in 7 years - 13880 Tuns averd. |
| Tin which will be sold in seven years - 9450 Tuns. |
| Tin which will remain in the kings hands at the end of the contract - 9630 Tunns. |
So great a stock of Tin, with what will be further raised in Cornwall, must of necessity beat down the price of Tin so low, that it will after the end of the contract scarce sell for above 40£ per Tun, & be 12 or 16 years in selling. And the charge of warehouse room & Officers & Porters to sell it & rebate of interest till the money comes in being deducted, the Tin will remain scarce worth above 28 or 30£ per Tun to be sold all together at the end of the contract for ready money. At 30£ per Tonn the 9630 Tons will be worth 288900£. And this being deducted from the 512188£ will leave 223288£ the Kings loss by the contract.
<513v> | Tunns Averd |
| Tin in the late Queens hands at the beginning of this contract June 2d 1710 | } | 2400 |
| Added 800 Tunns St. wt | -857 |
| Total | 3257 |
| Left by the Queen at her death | 5260 |
| Increased in four years & two months | 2003 |
| Received in four years 6760 Tuns Stand | 7243 |
| Sold off in four years & two months | 5240 |
| Sold per annum at a medium | 1257∟6 |
| Will be sold in 2 years | 3563 |
| Will be received in 3 years 5520 T. stan. | 5917 |
| Will be added to the dead stock in three years | 2354 |
| Total dead stock at the end of this contract will be | 7614 |
|
| Money advanced for buying 5520 T. St. wt in 3 years | 380880£ | } | 40000 |
| For freight | 5520 |
| For other expences & accidents | 13600 |
| Interest upon the money advanced at 5 pr cent | 30000 |
| 430000 |
| Will be received by sale of Tin in 2 years 270788 whereof about 210000 is a debt upon the Tin. The remainder is | 60788 |
| If after the contract is at an end 1400 Tuns sta. wt should be sold annually at 40£ pr Tun, one half by the K. the other half by Cornwall: the Kings share would produce an annuity of 28000 for almost 11 years, the value of which in ready money would be | |
| Twelve hundred Tuns st. wt Tin & freight at 70£ pr Tun | 84000 |
| Other Expenses 5000. | 5000 |
| Queens debts per annum | 30000 |
| 92000 |
| Sold annually 1260 Tun av at 76£ per Tun | 95760 |
| 4) 2310 (554 |
| 2083 |
| 226666 |
| 208333 |
| 18333 |
| 182666 |
| 0666 |
Rd in 1
| 4)5252 (1260, |
| 41666 |
| 108533 |
| 83333 |
| 2520 |
Unsold in 10 years . 5260
| 95) 5260 (553∟6 |
| 475 |
| 510 |
| 350 |
| 285 |
| 650 |
| V 1260 |
| 76 |
| 7560 |
| 8820 |
| 95760 |
| 16400 |
| 820 |
| 800 |
| 18120 sta 1297 |
| 1297 |
| 19417 |
| 95) 14157 (1400 |
| 465 |
| 9.64900 |
| 23240 |
| 209160 |
| 13944 |
| 9296 |
| 20916 |
| 224242∟76 |