[From Atholl Papers - AP 49(4th)-30]

[James McCrone to Duke - 7 March 1827]

Castle Mona 7 March 1827

My Lord Duke

I am much afraid that we shall have very bad collections this year of the Rents & Tythes - The failure of the fishing and Crops seems to have reduced the Islanders to poverty and, comparatively speaking, I cannot lay my fingers on any thing, not even from the Moars, and the best of the Tenants.

Great numbers have gone and many are in the act of going to America, and they scrape up all they can get and smuggle themselves out of the Island, leaving nothing to pay their debts. - As a proof of the extreme poverty of the Island, Mr Holmes says he never had so few notes in cirulation by many thousand pounds, and to add to the distress McWhannels Bankers in London have refused to accept his drafts.

The transferring of Your Grace's interest in the Island to the Crown, has filled the people with great alarm, and that circumstance, like every other sudden change works discouragingly and depressingly in the first instance. The winter too has been uncommonly severe, and if it were not for the Gorse, the Cattle would absolutely die of want.

I have had to arrange with Mr Holmes about the Interest, as I best could. - though it was not paid last year till the 11th of this month, it was all then long past due, and he said when Your Grace got him to restrict the interest to 5%, it was on a promise that it should be paid half yearly. - I have settled it thus: I gave him as Your Grace's agent, my note dated the 20th Oct for £600 due that day and on the 2d inst I paid the same with Interest thereon till that date, and at same time, I gave him my note for £1225 payl on demand, being the balance of Interest, & which I will pay as soon as I possibly can, and with Interest thereon of course.

I find the Laxey Mining Compy are at the end of their means, and must I believe, abandon the work.

The last small parcel of ore they sold only bought £11 5s per ton - Your Grace must hold on, for it surely will rise, and at all events, it can well go farther down.

Dunlop's Estate is in the Market for sale or letting - He appears to be standing still, and he will not be able to pay Messrs Holmes 300 pounds per ann of interest - he is looking around him for a further loan, but it is sufficiently burdened already.

By the way I got a hint lately, that in all probability Late will be paid.

The Asbestos I learn was seized by the Excise and not by the Customs, so it is to the Excise Board that your Grace will have to apply.

I recollect nothing further at present to communicate, but have the honor to remain ...

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