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Examples of credit or extended payment terms with and without interest: involving sea captains and
sailing vessels linked to Port Bath.
Year 1707 John Morgan, Merchant of Charleston, Province of Carolina appoints Capt. James Beard, and in
case of his death of absence John Robinson, both Merchants of N. Carolina his attorney to demand from
Emanuel Low, Gent of NC 38 pounds 8 s 9 p with 10% interest. 6 Aug.
Year 1711 Sloop Content, Capt James Beard merchant owner, Master Henry Salter, Homeport Bath, traded
with John Morgan a merchant of Charleston also John Scott & Caleb of New York
Year 1720 Sloop Batchellor, owner Geo. Stephen Mariner, bond 60 Pounds lawful silver money of America, 30
Pound to be paid with interest by 6 August to widow Mary Green. Mary Green assigned the bond to Bath
friend Nicholas Roach. Stephen delivered the sloop back to Mary’s brothers Rich and Joseph Hill of Maryland
from Port of Philadelphia. Deed Book entry 594, p. 96-97(50% principal with interest bearing bond)
Year 1720/21 Thomas Worsley, merchant of Bath Co is bound to Mr. Daniel Oliver, merchant of the Province
of New England for 550 pound 19s 4d cm of New England. Worseley is to pay Oliver 74.3.5 for goods sold in
Boston money upon Oliver’s sending to this Province for it, and 200 pound of like money to be paid on 10 Aug
next, it being for half the sloop Tryal. Date 7 Feb 1721/21. (74 pound merchandise credit payable on demand,
and 200 pound vessel purchase money Six months term credit granted)
Year 1720 Mar 10, Stephen Elsey and Thomas Henderson, planters of Bath Co are bound to Thomas Leigh,
mariner of same for 110 pound sterling GB, 55 pound to be paid 10 Oct next with lawful interest (6 month
terms with 6% interest on 50% of principal paid)
Shipping and Financing Fur and Pelt shipments examples:
Sloop Speedwell, Sloop of 7 tons with 4 men, Carried wheat and furs from Little River near Port Roanoke to
Philadelphia, Master Thomas Raymond, date Oct 20 1703, Port Bath did not exist at that time, so papers were
cleared with Albemarle customs collectors. Vessel carried 143 bushels of wheat 275 Buck skins, 495 doe skins,
44 Fox & Cat, Muskrat, 5 mink, 18 raccoon, 35 beaver, 6 bearskins.
Enterprising fur traders in 1700 like BathTown’s Christopher Gale, NC’s future first chief Justice, served as
middlemen buying goods on credit from overseas: this allowed them to purchase and send goods to Indian
traders via canoes, flat boats and even packhorses into interior Carolina. (Gale correspondence to his father
dated Aug 5, 1703 said he traded cheap cloth, hats, axes and nails…Colonial Records xxi Vol IV.)
As many as 25-100 trinket-laden loaded horses and mules typically marched with fur traders in spring,
summer and fall; they trekked into Carolina’s interior with their Indian guides in anticipation of buying furs,
skins and pelts “low” and selling “high.” Indians traders took in hundreds of dozens of skins and pelts, (deer,
beaver, wildcat, otter, bear, wolf, raccoon, bison, fox, muskrat) after exchanging them for wooden spoons, rum,
and bright beads and red calico. (William Byrd’s correspondence and John Lawson’s 1709 History of
Carolina).
John Lawson at one time owed Christopher Gale 333.8.0 British sterling value bartered in dressed buck and
doe skins and 666.16.0 Sterling damages p. 245.
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