The Highland monthly - National Library of Scotland

4IO 'J he Highland Monthly.
sterling on 28 November, 1774, and interest from that date
to 19 March, 1778, is included in William Murray's
charge.
In addition we have the Kirk Session's own obligation
^or ^54 17s 4d to the Hospital Treasurer, which, however^
is stated in this report to have been paid up on 12th
February, 1770, by William Macpherson's widow.
The fact is that the Session from time to time
authorised sundry payments which should not have been
held chargeable to the Hospital Fund : these, added to
losses of principal and interest through failure of their
debtors to pay, losses of rents on property, law expenses in
trying to recover what was due, and payments to pen-
sioners in excess of free income, caused a serious diminution
of capital.
The mode of keeping the Hospital accounts too tended
to prevent the members of Session from seeing clearly the
true state of matters :
but
they did not insist on a remedy.
Instead of the Treasurer keeping a distinct capital and a
distinct revenue account, and making up at any rate the
latter yearly, the usual practice was only to make up an
account of all intromissions at the end of his stewardship.
For some years previously a list of bonds and securities
transmitted to the successor had also been made up,
showing capital in one column and interest due in another :
but it is no easy matter to trace some of the items of
capital, owing to bonds being paid up or assigned, and the
money relent : and capital belonging to one trust is mixed
up with capital belonging to another. The effect of this is
seen in its being necessary to appoint committees in 1752
to enquire into the interest due to Dr Fraser's mortification,
and to revise George Duncan's mortification, as also in the
elaborate report of the committee on the Treasurer's
accounts in 1779.
The following entries in the accounts show the trouble
and expense incurred in connection with Inches' bonds :
— In Bailie Andrew Murray's Charge account on entering