SMITHSONIAN BEQUEST. 73 



Richard Eush to John Forsyth. 



LONDON, June 26, 1838. 

 SIR : Since my No. 27, the sales of the stock have been 



.going on from time to time, and at length are finally 



-closed. 



They have all been good perhaps I may say fortunate. 

 The prices have been high, as compared with the state of 



-the stock market for several years past; and I ana con- 

 fidently informed that, from the time the stock came under 

 my control until I sold it all, no higher prices were ob- 



-tained by any private seller than I obtained. 



The whole of the reduced three per cent, annuities 



(12,000) sold at 94. This description of stock is never as 

 high as consols, but 94 is reputed nearly, if not quite, as 

 good a price, in proportion to its general value in the English 



'stock market, as the 95 J- I obtained for the consols. 



Of the bank stock unsold at the date of my last, (viz: 



.8,100,) I obtained 205 for 5,000, and 205J for the re- 

 maining 3,100. Both these prices, it will be perceived, 



.are higher than the former ones I obtained for this stock. 

 The" entire amount of sales has more than realized the 



-anticipations held out in my No. 27, having yielded an ag- 

 gregate of rather more than one hundred and five thousand 

 pounds, as will be seen when I come to render a more par- 

 ticular statement. The two days on which I am to make 



.all the transfers are the 30th of this month and 6th of July. 

 The money will all be received simultaneously. 



Immediately afterwards I shall take measures for convert- 

 ing the whole into English gold coin, having finally deter- 

 mined that this is the '"proper mode in which to bring the 

 money to the United States, under the trust I have in hand. 

 It appears to me the right course in itself, independent of 



-any question of exchange, considering the peculiar object 



-and terms of the law of Congress of the 1st of July, 1836, 

 under which I am acting. But by the rate of exchange, as 



quoted at New York under the last dates, there would be a 

 gain to the United States, by the best calculations I can 

 now make, (though I am aware how exchange is ever liable 

 to fluctuate,) of upwards of a thousand pounds on bringing 

 over the money in gold rather than remitting it in bills. 

 This would help to cover the commissions on shipping the 

 former, effecting insurance upon it, and paying the premium 



of insurance, as well as charges for freight and those that 



