1827.] Public Charities. 509 



reviewing, are very far from constituting all their trust-property. Very 

 considerable sums have been bequeathed to them not directed to be in- 

 vested in land and from the nature of the proposed employment of them, 

 incapable of being so invested. Of this kind are gifts of money, from 

 thirty or forty persons, amounting together to 11,6J8/., destined, the 

 greater part, 7,699/. that is, to be lent to young men, sometimes gratis, 

 sometimes conditioning a distribution of coals among the poor, generally 

 in interest, and the interest to be given to the poor of certain parishes in 

 the city ; 2,000/. for relieving and redeeming debtors ; 1,325/. for binding 

 apprentices ; 570/. for sermons, and the remainder to the company itself 

 for donations to the livery generally, or in the payment of certain sums 

 to the poor. Of the larger sum, not a farthing is lent to young men free 

 of the company, because, truly, the company have no members who re- 

 quire such loans ; but the interest that would result from such loans is 

 carefully assigned to the purposes directed by the donors. Our readers 

 will, of course, now conclude, from what they have already seen, that let 

 the money be employed how it may, or produce what it may in contempt 

 of all advances in the nominal value of money, no advance in the sums dis- 

 tributed is ever made. If, 150, or 200, or 300 years ago, the sum allotted 

 to the poor was five pounds, five pounds are all that are paid still ; the 

 letter of the injunction is fulfilled they have nothing to do with the spirit 

 of it. Interpretation is always hazardous. 



A load of coals is sometimes the return for the loan of 50Z. ; this load, 

 generally, is valued at five and twenty shillings, though the load mani- 

 festly meant as sometimes it is even specified thirty sacks ; and five and 

 twenty shillings will purchase only six. Sometimes there are evasions of 

 another kind : for instance, Alderman -Walthall, in 1608, left a sum, now 

 by accumulations producing 36/. a-year, to be given to the three poorest 

 scholars of Cambridge. The company do not know how to ascertain the 

 fact the ne plus ultra of poverty a.nd therefore keep the money. Again, 

 Mr. Martin, in 1630, we believe, left to the company 200/., < heartily 

 praying them to accept of the same, and in lieu of it, pay the poor of 

 Yarcombe, in Devonshire, ten pounds annually for ever ;' but the good and 

 considerate gentleman afterwards thought the company might possibly lose 

 by the donation, and, by a codicil, added 250/. more, to secure them effec- 

 tually against all risk of damage. What do the company do ? Oh, of 

 course, only pay the 'ten pounds with something now for arrears, for 

 there have been times when they have not even paid the ten pounds. Lady 

 Hungerford, in 1(571, left the company 1000/., the profit of which was to 

 be expended in binding apprentices preference to be given to lads out of 

 Wiltshire and Gloucestershire. The practice has been to bind three boys 

 annually, with a premium of 10/. ; but Wiltshire and Gloucestershire, it 

 seems, will not, or does not, or cannot furnish three boys annually ; and 

 so balances have accumulated, and the company has now 42/. instead of 

 30/., and are ready to give \\L each if any will apply out of Wiltshire 

 and Gloucestershire. But the Viscountess Campden's legacy beats all. 

 In 1642, this excellent lady Ieft3,100/. to purchase impropriate church 

 livings in the counties of York, Durham, Lincoln, or other places where 

 such purchases could be made, and the greatest lack of preaching 

 existed. What have the company done with this large sum ? In 1652, 

 thoy founded two lectureships at Grantham and Wakefield, at 151. each : 

 but in 1689, the chancery directed a purchase to be made within two 

 years. This order of court was neglected ; and 1 15 years afterwards, in 



