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and rendered peculiarly gratifying to his own feelings from its being permitted to be the humble companion to the portrait of that excellent character who so long and so happily presided over them.

He had now spent the greatest and the most important part of his life in the service of the Company; a period too long not to be sensible that its interests were amongst his first duties, and the friendships and connexions he had formed had been amongst the happiest events of his life. That he valued their confidence and kindness with gratitude and pride, and would endeavour to discharge his duties to the best of his abilities; but when he looked at the duties he had to perform, and at the character of those who had presided in the situation which he now held, he felt, and he doubly felt, that a post of honour was not without its anxieties. He had, however, the pleasing satisfaction of having an example before him worthy of imitation. He would endeavour to follow that example, though he was sensible, that with all his exertions, he should stand much in need of all their kindness not to disappoint their expectation.

He would not move for the adjournment of the Court without returning thanks to all the Directors, individually and collectively, for all the kindness and attention he had ever received from them, and begged they would accept of his best wishes for the prosperity of the Company and for their happiness and welfare.

To the Governors and Directors of the Royal Exchange

[Continued from page 9.]

70, Fenchurch-street,

December 16, 1837. GENTLEMEN, The Committee of Inspection on the 7th of June, 1820, having reported to the Court of Directors “ that the “ Governor, Mr. Vaughan, had presented to that Com“ mittee a Report, dated 29th May, 1820, accompanied “ by several books of Statements and Calculations framed “ and arranged by himself, exhibiting results of the Com

pany's operations in the several branches of the Sea, “ Fire, and Life Assurances and Annuities, down to the “ 30th of April, 1819, and shewing, in a most clear,

perspicuous, and combined view, the state of the Com

pany's affairs at that period; and stating in the Report u that it is his wish it should be deposited with the present “ and future Governors, in order to be referred to when

necessary by the Committee of Inspection ; and the “ Committee having resolved to express their cordial " thanks to Mr. Vaughan for the labour, skill, and judg“ ment displayed by him in forming these valuable books “ and documents; and that it would be expedient that the

system and principles with which they had been framed “ should be applied to all subsequent transactions of the Company, under the superintendance of the Governors


“ for the time being. And the Court of Directors having “ been pleased to approve and adopt the recommendations “ of the Committee, and having been further pleased to “ resolve that Mr. Vaughan be requested to sit for his

picture as a testimony of the high sense the Court entertained of his eminent services."

I was encouraged to extend my labours to the formation of a more comprehensive and consolidated statement of all the Company's affairs from its first commencement in 1720 down to the year 1824, to which I afterwards added accounts for some of the branches to 1827.

On my resignation in 1829, many of the Statements being unfinished or requiring some revision, I retained the books in my possession to complete them, which various circumstances prevented me from doing till a few months ago.

The accounts, I trust, will be found pretty correct and serviceable, and I beg now to present them, that they may be deposited at the office for the use of the Corporation, as at first intended.

In framing these accounts I have rather aimed at making them conform to the system and practice of the office than at making any alterations.

A copious Index has been given in each of the volumes, but they have been so arranged in the seventh volume, which contains the Final Report, as to consolidate them for each branch.

With the accounts, I have returned all documents which were in my possession; destroying all other papers excepting those thanks which I have received, and which I shall ever retain a grateful sense of.

Sincerely wishing prosperity to the Company, and every happiness to all those who preside over its affairs,

I have the honour to be,

Most respectfully,
Your sincere and humble servant,

WILLIAM VAUGHAN. A letter of thanks was returned by the Court, dated 20th December, 1837.


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Continued from p. 13.]

Every lover of his country has seen, with concern and regret, that spirit of mutiny which has lately discovered itself in a part of the British


The manner and the timing of it have been disgraceful to the promoters of it. It has however been fortunately quelled by the seamen returning of themselves to their duty, from a sense of their own improper conduct. Wishing to cast a veil over the past, and to guard against a return of evils, I beg to address a few hints to British seamen, who have a character attached to them which they should be ever proud to merit, that of being respected at home and feared abroad. The country no sooner heard the complaints of the seamen than Parliament redressed their grievances, and immediately voted an increase to their pay to the amount of about £530,000 per annum to the public.

This was not confined to a particular fleet, but to the whole navy. After such an interposition, and a general

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