*32 MamifaBure of Oil from the Bj^eeh-nut. 



no difficulty in' obtaining a fubfcription of twenty thoufand pounds, which he raifed by 

 engaging to grant annuities of 50 per cent, on the fum fubfcribed. He afterwards raifed one 

 hundred thoufand pounds, upon an engagement to receive Ijcech-maft from the fubfcribers, at 

 100 per cent profit to them, for two years. With this ftock, he proceeded to eftablifh 

 his works and procure orders ; the, latter of which, amounted to upwards of two and twenty 

 thoufand tuns of oil, at 40I. a tun, or near a million fterling. The reports concerning the 

 beech muft appear to fliew, that the quantity in plentiful years is prodigioufly great ; but that 

 this happens about every third year. It alio appears in his foreign correfpondence, not only 

 that the beech-nut is very plentiful on the continent, but that its application to the purpofe of 

 manufaduring oil, had been known and prafliifcd for near a century in the northern parts of 

 France. One of his correfpondents points out, that this cil is preferred by many to the beft 

 olive oil; that it had long before been mentioned with commendation by Evelyn, in his Dif- 

 courfe on Trees ; and that in Bretagne, the millers convert the beech-maft into oil, for the 

 price of one fous per bufliel, and the oil-cake which is ufed for feeding cattle. 



After this mafs of apparently good evidence, I ihould be glad to know, if it be my igno- 

 fance only which leads me to fuppofe that there is little, if any, beech oil in the market ? 

 If a bufliel of beech-nuts be worth lefs than fixpence, and will afford, by mere mechanical 

 preflure, two gallons of oil, equal in quality, or even much worfe than olive oil, how happens 

 it that the confumer now pays five fhillings a gallon for whale oil for lamps, and fixteen 

 {hillings a gallon for olive oil, in flaiks ? 



• To return to my hiftory. — It appears on the whole, that Aaron Hill did manufadlure this oil, 

 and that the famples were highly approved by the Britifli clothiers, who gave him large orders ; 

 that the year immediately fubfequent to the formation of his fubfcription company, proved very 

 unfavourable for the beech-maft, which [was lighter and lefs oily than in good feafons; that his 

 fubfcribers became alarmed after having paid their [firft inftalment, which was fubje£l ta 

 forfeiture in cafe of failure in the lafl: payment; that the patentee, ijiftead of infifting upon • 

 this bargain, had the honourable fpirit to offer them a repayment of their money, with a 

 profit of twenty-five per cent.— that this offer was accepted, and aftually performed to the 

 whole of the fecond clafs of fubfcribers, and one-third part of the original annuitants; the 

 remainder, to the amount of about thirteen thoufand pounds, choofing to retain their annuities. 

 Here I muft remark, that the fcheme feems to have realized fome confiderable profit, 

 fmce the advantage allowed to the fubfcribers over and above their money returned, 

 muft have been near eight thoufand pounds ; befides which, there were undoubtedly many ex- 

 pences and difburfements made. Is it to be fuppofed, that thefe were all paid out of the 

 thirteen thoufand pounds which were not withdrawn ? 



The obje£t of the pamphlet was to circulate propofals for eftablifliing a new company, to 

 .which the whole patent, fubjedt to the annuities, was to be afligned for twenty-five thoufand 

 guineas, and one-twentieth part of the profits, under certain general regulations, expreffed in a 

 deed, inroUed in Chancery for that purpoR'. The fhares were five thoufand, at forty pounds 

 a-piece : befides the premium of fiye guineas on each fhare. What became of it afterwards, I ' 

 know not. 1 remain, Sir, 



Lmdoriy July 6, 179^ Your conftant reader, X. X» 



