THE DIARY 01 EDWARD BAGSHAW. 77 



Mr. Mulcaster seems to have been the evil genius of this young 

 clergyman. He was prompt to advance him interest on his 

 money before it was due, and in the next year occurs the following 

 entry- : — 



"September 14: 1721 : Mr. Mulcaster has bought me five tickets 

 in the State lottery. The numbers are as follow : — 



10 M024 15. 



10 M026 Came up a £20 prize. 



10 M027 B. 



10 M028 B. 



10 M029 B. 

 They cost ten pounds five shillings each, in all ^51 5 o." 



So this little bit of gambling cost Edward Bagshaw ^31 5s. od. 

 The next records his further advances to Mulcaster. 



" February 28 : 1724 I lent Mr. Mulcaster five hundred pounds at 

 five per cent interest, he has deposited six army debentures in Mr. 

 Mulford's hands as security." 



For a short time, but only for a very short time, did Mr. 

 Bagshaw receive interest from Mulcaster for the capital he had so 

 foolishly advanced him. From April to October, 1722, he 

 received ,£125; but in April, 1723,1s this significant entry — 



"Received of Mr. Midford the sum of fifteen pounds in part of 

 half years interest due to me from Mr. Mulcaster on three thousand 

 pounds, from the 28 of August 1722 to the 28 of February 172I." 



From that time downwards there was no further interest from 

 Mr. Mulcaster, or anyone else, and it is clear that Mr. Bagshaw 

 lost, not only the interest, but the whole of his private fortune. 



The South Sea Bubble, in which Edward Bagshaw had directly 

 invested much of his money, and indirectly the remainder, by 

 lending it to Mulcaster on the security of that stock, was estab- 

 lished, to do exclusive trade in the south seas, in 17 10. It was at 

 first unwisely, but soon afterwards most dishonestly, managed. It 

 exploded in 1720, carrying complete ruin into thousands of 

 families. In 1721, the directors' estates, to the value of over 

 ,£2,000,000, were seized by special Act of Parliament, but this 

 was a mere nothing to the losses incurred. The most astounding 

 artifices were used to inflate the shares, which from being 



