502 Public Charities. [MAY, 



THE MERCERS 1 COMPANY. 



ST. PAUL'S SCHOOL, This school was founded by Dean Colet, in the 

 early part of the reign of Henry VI1L, for the education of 163 boys 

 * desiring nothynge more thanne education, and bringing uppe children in 

 goode manners and literature.' The apparently whimsical number is that 

 of the fishes taken in the draught after our Saviour's resurrection. The 

 original estates granted by the Dean, together with some additions for 

 exhibitions at Cambridge, given by Viscount Campden, make up an income 

 for the school of 5,252/. 7*. 7|, which income, as well as the patronage, 

 is entirely under the management of the Mercers' Company. Now, how 

 have they discharged this splendid trust ? We shall see. In 1 804, by 

 the accidental finding of an old account-book, followed up by a little inves- 

 tigation, the company were discovered to be in debt to the school estate, to 

 no less an amount than 34.637/. 15s. Od. The revenues of the school had 

 actually been employed by the worthy company in speculations, loans, and 

 annuities, by which they lost immense sums. To avert the scandal of 

 exposure in the courts, the company engaged to refund, at the rate of 1,000/. 

 a year; and 16 : 000/. have actually been refunded, and the remainder will 

 now, probably, be restored in the same way. Out of these sums thus 

 restored the company not knowing, it should seem, what better to do 

 with them the present magnificent buildings have been lately erected. 

 The whole income of 6,252/. 7*. 1\d. is now, however, reported to be 

 spent upon the school ; but how spent? Look at some of the particulars 

 of expenditure of the last year ; 1,000 an annual pension to the late 

 head-master; 181 /. in salaries and gratuities to the officers of the company; 

 229/. 9-s. Qcl. on the apposition dinner a dinner given on the annual exa- 

 mination, appointed by the founder, who directed a 'littell dinner not 

 exceeding the pryce of fower nobles ;' 52/. lOs. to the examiners at the 

 apposition ; 129/. 19s. 8^7. for law agency; 287/. 1 4s. in courts and com- 

 mittees as douceurs to members of the company for attendance, otherwise, 

 it seems, a sufficient attendance could not be secured ; and a gold medal 

 of 20/. to the surveyor-accountant ; and one of the same value is annually 

 given to the said surveyor-accountant a member of the company when 

 he goes out of office. All this, however, with such abundant resources, 

 may be, it seems, nothing but liberal. But who has the benefit of this 

 noble foundation ? Of what description of children does the school con- 

 sist ? Chiefly, says Dr. Sleath, in his evidence, belonging to the clergy, 

 the professional gentlemen, arid medical men in the neighbourhood, and to 

 gentlemen in Doctors Commons to persons, that is, to whom the gratui- 

 tous* education may be very convenient, but surely not such as can be said 

 to want it surely not such as the original founder contemplated, particu- 

 larly when he speaks of poor scholars, as well as those, who were to have 

 wax tapers at the cost of their parents. But why, with such ample funds, 

 now by publicity secured, and the company not likely to have the oppor- 

 tunity of entrenching upon them again why is not the number of scholars 

 augmented ? Nay, the founder himself limited the number. So he did 

 the wages of the head master to a mark a week,' though the present master 

 has 613/. a year ; and where did he direct an annual medal ? and where the 



* The founder's intention was gratuitous education. What expenses are saddled upon the 

 parents \ve know not. Something no doubt, and something considerable perhaps bough 

 the lawyers will t:ii:e care of themselves. 



