[London banking and West Indian sugar market.] Manuscript copies of two letters by William Wilson of London bankers Hankeys, Plummer & Wilson, regarding 'West India Distress' and the 'unfortunate failure' of the mercantile house Mannings & Anderdon.

The present two items are of the highest interest for the information they provide regarding the financial connections between the West Indian market and the London banking interest. Wilson presses the claims of the new banking house of which he is a partner - Hankeys, Plummer & Wilson - in the aftermath of the bankruptcy in the previous month (5 September 1831) of the firm of Mannings & Anderdon, a good account of which features in the History of Parliament entry on its senior partner, William Manning (1763-1835) of Coombe Bank, near Sevenoaks, Kent (father of the Roman Catholic Cardinal Henry Edward Manning). The firm of Plummer & Wilson (bankers to William Beckford, who is said to have sold Fonthill to prevent it from falling into Plummer's hands) had also been declared bankrupt in 1830, and John Plummer (1780-1839) and the writer of the present items, William Wilson, had formed a new company in Mincing Lane with Thomson Hankey (1773-1855). The two items, both by 'WW' and headed 'Copy', are from the Hankey archives. They are both in good condition, on lightly-aged paper. ONE: To Frederick Walton Mallalieu of St Kitts. 3 August 1831. 2pp., 4to. Docketed: 'Private Letter to Mr Mallalieu - on Mr. Thomson Hankey's character & the Principles of the House'. The letter begins: 'I write this letter in my own name, as it enables me to state more fully to you than I could do, in the name of the house [i.e. Hankeys, Plummer & Wilson], the credit & confidence to which we think ourselves entitled'. He discusses 'the shock, which must be excited in the Island of St Kitts by the unhappy failure of Mannings & Anderdon, which has been declared within a few days'. He is uncertain as to '[t]he Extent of it, or the plans they will adopt', but he considers that his own firm might be 'useful', even 'with a view merely to hold consignments ad-Interim, till their Plans were developped [sic]'. He discusses the firm's merits, before turning to '[o]ur partner Thomson Hankey Junr. [...] a very clever Man of Business very active, industrious, of high honor & attentive to minute details. The principle is to ship every thing on the best terms for our Employers - but not to make advances on West Indian Securities except, where, humanly speaking, there is no Risk [...] Mr. Thomson Hankey, the Father of our Head has had a very old established West India House, in which the advances are so few that the loss of all would scarcely make any difference in his large Fortune - His Son, with us, acts upon this principle, and he is likely to rise to high estimation in a year or two, in the City - The Wealth of his Father's house, in which he is a Partner too, is such, that I believe they have not drawn a Bill on a Sugar Baker for 28 years, & they have always money without discounting [...] Our plan is, to pay our Tradesmen ready money and we have not drawn a Bill for Sugar sold since we became a house.' He concludes with another allusion to '[t]his calamity to Mannings'. TWO: To James Royer Smith of St Kitts. 4 August 1831. 3pp., 4to. Docketed: 'Private Letter to Mr. J. R. Smith of St. Kitts | respecting the principles of the House in the conduct of the business & Mr. Hankey's character'. The content of this letter is similar to that of Letter One, with references to 'the great regret' felt by 'the whole Commercial Body' at the Mannings collapse: 'if there are any in that class connected with the late Ministry, to which Mr. Manning was steadily allied, who still doubt of the degree of West India Distress, perhaps the failure of this House may shew what is the nature of the danger affecting all others, who have made large advances in the West-Indies, & depend upon their Return, for their future ease, and perhaps Security'. Wilson's partner Hankey is described as 'the eldest son of Mr. Thomson Hankey, an old West India Merchant, who during all the prosperous days of the War, resisted all the temptations to lend money in the West Indies for the sake of consignments. [...] The House has, I believe not drawn a Bill on the Refiners or buyers of Sugar for 28 years'. He asks Smith 'please to show to Mr. Piquenit' his letter, 'because Mr. Hankey is not much known even by name in St Kitts and our (P. & W) misfortune may prevent his just title to respect & confidence being so easily apprehended'. The letter concludes, with astonishing frankness: 'The Report is that the Bank of England has advanced to Manning's and Anderdon nearly £200,000, within the last 2 years. It is feared their engagements are to a very large extent. The news of this morning is warlike - Belgium & Holland have concluded the armistice, and Casimir Perier is out of office - In the meantime nothing helps our Sugar Market. I hope you got safe out.'