From Benjamin Franklin to a Committee of the Managers of the Pennsylvania Hospital, 28 August 1772
To a Committee of the Managers of the Pennsylvania Hospital
ALS (letterbook draft): Library of Congress
London, Aug 28. 1772
Gentlemen,
Mr. Barclay writes to you fully, but I cannot refuse myself the Pleasure of congratulating you on our having at last obtain’d the Money for the Hospital, viz £7634 11s. 1d. 3 per Cent Bank Annuities, with £909 1s. 4d. Interest.4 This Sum will be a great Help to our Institution. With my best Wishes for its Success and sincere Esteem for its benevolent Managers and Physicians, I am, Gentlemen Your most obedient humble Servant
B Franklin
Messrs John Reynell S. Rhoads and I Pemberton5
4. For the money from the Pa. Land Co. see the Hospital Managers’ letter to BF et al. above, May 16. On Aug. 27 David Barclay had written to inform the Managers that the Bank of England, on a Chancery order, had transferred to him, Fothergill, and BF for the use of the Hospital the annuities and interest that BF mentions; Fothergill would return from Cheshire within four to six weeks, Barclay added, and the agents would then dispose of the annuities whenever directed to do so. Their value fluctuated, and at the moment was 89 per cent of par; they had originally been purchased for only £6,451 4s. (Pa. Hospital minutebook.) Barclay apparently handled the transaction, which does not appear in BF’s accounts. For the eventual disposition of the annuities see the Manager’s letters below, Oct. 20, Nov. 4, 1772; Jan. 1, 1773.
5. BF seems to have confused the two Pemberton brothers: James had signed the letter to him and others above, May 16.