A. D. 1766. 441 



By an arret of the French council of ftate, dated 29th December 1765, 

 the interefl was raifed from 4 to 4.^ per cent, and the holders of the 

 bills were required to get them liquidated before the ifl of March 1766, 

 on penalty of their becoming void; but the fubjeds of Great Britain, on 

 account of the diftance of Canada, were iiadulged with further time to 

 he ifl: of October 1766. 



At laft (March 29"') after long delays, a convention for the liquidation 

 of the Canada paper belonging to Britifh fubjedts was concluded at Lon- 

 don between General Conway and the Comte dc Guerchy, wherein the 

 reduclion of the value, and the rate of interefl, as formerly fettled by the 

 court of France, were acquiefced in, and the neceflary forms to be ob- 

 fer\'ed in afcertaining the Britifli property, as alfo the fleps to be taken 

 for obtaining reconnoiflunces, or rent contradls, were fettled. The court 

 of France, moreover, flipulated to deliver to the Britifli proprietors in 

 April 1766, by the hands of the Britifh ambaflador at Paris, 500,000 

 livres in money, and 2,500,000 in rent contrails bearing interefl from 

 the ifl of January 1766, as an indemnification*, on condition that all 

 Canada paper of Britifh property, not liquidated in the prefcribed time, 

 fhould fhare the fame fate with that of French property. 



To »his convention Meflieurs Brook Watfon, Robert Allen, Francis 

 Rybot, Robert Hunter, Ifidore Lynch, Charles Crockat, William Green- 

 wood, Robert Grant, and Daniel V^ialars, who were the committee of 

 London merchants chofen by the proprietors of Canada paper to manage 

 their concerns, added, with the approbation of General Conway, feveral 

 regulations for the diflribution of the money, &c. which they appoint- 

 ed to be in November 1766 f. 



The iflands of Grenada and the Grenadines being in a much more 

 advanced flate of cultivation, and much more populous than the other 

 ceded illands, the Icgiflature for them was completed by the eledtion of 

 a feparatc afTembly for thofe iflands only, who accordingly met for the 

 firll time on the 15th of April, and in an addrefs to the king on the 

 completion of the legiflative fyftem for Grenada exprefled their I'enfe of 

 the important trufl repolcd in them ; ' in conjundion with a governor, 

 ' (General Melville) who has given conftant and diftinguifhed proofs, 

 ' that his whole fentiments and condud are formed for the profperity 

 ' and goodof thele illands, by views the mofl difmterclled, and upon 

 ' principles the moft candid and impartial.' But, notwithilanding this 

 harmonious outlet, the new allembly, unfortunately conceiving loo high 

 an idea of their own powers and privileges, immediately went to variance 



* Raynal fays, that the Brltini proprietors there- he is mill.ikeii in tlie amount of the isukmnlfica 



by Rot 55 per cent for ihcir bills of exchange, and tion, we may prcfume that he is erroneous in hi* 



3^. ptr cent for their oidonnanccs ; while the calculation. 



I'rcncli fiihjcds were obli^^cd to rcil fatitfiid with f The Canada bills were not finally paid off by 



tlie original compofition of 50 and 25. But, as tlic French treafury till the year 1772. 



Vol. m. •» -, K 



