Thursday 1 February 1665/66

Up and to the office, where all the morning till late, and Mr. Coventry with us, the first time since before the plague, then hearing my wife was gone abroad to buy things and see her mother and father, whom she hath not seen since before the plague, and no dinner provided for me ready, I walked to Captain Cocke’s, knowing my Lord Bruncker dined there, and there very merry, and a good dinner. Thence my Lord and his mistresse, Madam Williams, set me down at the Exchange, and I to Alderman Backewell’s to set all my reckonings straight there, which I did, and took up all my notes. So evened to this day, and thence to Sir Robert Viner’s, where I did the like, leaving clear in his hands just 2000l. of my owne money, to be called for when I pleased. Having done all this I home, and there to the office, did my business there by the post and so home, and spent till one in the morning in my chamber to set right all my money matters, and so to bed.

6 Annotations

Lawrence   Link to this

I wonder what Mr Pepys is worth at this time? thank goodness that Elizabeth's parents have so far survived the plague!

Ruben   Link to this

"to Alderman Backewell’s to set all my reckonings straight there, which I did, and took up all my notes. So evened to this day, and thence to Sir Robert Viner’s, where I did the like, leaving clear in his hands just 2000l. of my owne money, to be called for when I pleased"
A primitive and rudimentary kind of banking and capitalizing, based on trust and political stability. Das Kapital was here to stay and grow and grow.

cgs   Link to this

Sir R will loan it out to the credit Worthies like the King?? and other betters [ who will hand over paper deeds well sealed for the pleasure] a few quid on hand in-case some one wants some coin for walk around???
{ no derivatives and mortgages to sell piece meal to the provide income for the retirement mob}
Samuell ---you do know ?? the king will borrow it for making payments available for keeping ships afloat.

So Samuell how much interest will ye receive for being so flushed.
How life has changed for thee these past few years, when thee needed food for the table ye hocked thy musical instrument.

A. Hamilton   Link to this

So Samuell how much interest will ye receive

Good question. Do we know what the equivalent was in those days to the London Interbank Offer Rate (LIBOR)? Could Sam make 10% - L200 a year -- in this game?

Bryan M   Link to this

Do we know what the equivalent was in those days to the London Interbank Offer Rate (LIBOR)?

A History of Interest Rates by S Homer and R Sylla provides some 17th century English interest rates on pp 125-126. The legal rate from 1651 to 1714 was 6% but this did not apply to Crown loans. Interest rates for goldsmiths' loans to the Crown during Charles II's reign varied from 8% for well-secured loans to a maximum of 30%.

Goldsmiths paid 4 to 6% on short-term deposits.

http://books.google.com.au/books?id=w3hmC17-em4...

cgs   Link to this

Samuell must have been awake when heard his Preacher speak of Matthew 25 14-30 and not day dreaming of the wench in pew 4

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