| Description | "Memorandum of allowances and discounts to particular houses."
It is evident that I should have either 7½ per Cent more than any other of B & S: customers, or I should have in lieu thereof 12 Mo Credt extra which added to the 6 Mo that R M & P &c take to pay Cash is = 18 Months.
It is therefore necessary to Examine
1st If I have had that allowance in ye accts.
2d It appears that in the year 1792 the House of R: M: & P. enjoyed dureing the whole course of the sd Year upon Fancy Buttons a Dist of 10 per Cent viz 7½ promp paymt & 2½ secret allowance & other Birmgm Houses who settle Quarterly enjoyd this secret dist. for the last quarter of ye sd. Year. Whereas M: Boulton had no such extra Dist allowd him in that Year.
3d In the Year 1794 the House of Startin & Co had allowd upon Inlaid Buttns. 20 per Cent off ye Invoices & 5 per Cent off ye Quarterly paymts = 25 per Cent whereas M:B: had only 20 per Cent dureing the greatest part of ye Year
& the consequences of these thing[s] was the loss of reputation & customers as they concluded we deceivd them & quarrelld wth. us.
4th As B & S: have never paid any of the Expence of fetching Cash, Risk in do Expence of Stamps or Interest & premium in Discounting of Bills but they (B & S) have daily been Supplyd with Cash for all paymts. It is therefore evidently just & right that MB is entitled to the same allowances in Bill acct as all other Bankers take. Whereas it appears from the state of MB Stock Acct. that M:B: has pd. Money to B & S: which ought not to have been pd 'till the following Yr.
Examp?-the Yr. 1792.
[Added later at the foot of the page:]
Mr Scale died Feb 92.
2/3 changd to ½ at Midsummer 1789.
who settle Quarterly
The Birmgm. Merchts. upon an Average pay for the Good[s] deliverd in the first Quarter about the end of the 2d Quarter & that paymt. is generaly in a Bill at 3 Mo. Hence the goods deliverd in Jan Feb March are pd in Cash at Michs. & consequently MB: should pay in Cash the Michs following. It may therefore be considerd that Birmgm. pays in Cash 6 Mo after the delivery of the Goods & therefore M:B: should have 12 Mo more from which time he should pay intert.
[On the same sheet are further calculations relative to the settlement of accounts.] |