This intriguing document from 1791 is in effect a loan agreement by Captain Thomas Peters of Crossbasket Estate, who was recording the receipt of £1,000 given to him by the Professors of Glasgow University.
Now, I cannot convey what a vast sum that was in 1791. A few tens of millions of pounds in today’s money. The security put up against the loan was none other than Peters entire wealth and lands, including that of Crossbasket and its mill, and Auchentibber and nearby Drumlochearnoch. Various other lands at Carrdarroch and in Glasgow were put up in the bond, which was to be repaid in full and with interest at a further £200.
I cant assume at all what the loan was for, but this was a vast sum and he was obviously “good for it” being repaid quickly. Having researched the Peters family and Crossbasket, the date ties in with a couple of important triggers.
a) He had returned from fighting in the war in America and may have simply needed quick cash to replenish a lifetsyle he had whilst living away.
b) or the 1791 turnpike road built that year prompted him to upgrade the estate?
c) Additionally, he may have needed the cash for something entirely unrelated to Crossbasket. A further land purchase perhaps? A comparison of his will against this security may answer that. Thank you to Chris Ladds for showing me these.