The letter reads as follows.

To:                 William Borthwick, East Lothian Bank, Dunbar.

From:             Robert Garnock, Excise Office, Edinburgh

Dated:            18^th November 1810.

        Sir,

          Enclosed is a letter from Mr. Grieve respecting his cash Credit with your Bank.  In addition to his former Sureties he proposes Robert & Hugh Mitchell, Merchants, Fisherrow.

I am

          Sir,

                   Your humble servant

                                 Robert Garnock.

          Robert Garnock of the Excise Office in Edinburgh was one of the early contacts established by the Bank with the main aim being to circulate the Banknotes of the Bank.  In common with many of the Bank's contacts he was an acquaintance of Christopher Middlemass – a Founding Partner of the Bank - and it was through Middlemass that Garnock's potential was brought to the notice of the Board.  Garnock could circulate about £1,000 per week but before his salary was agreed a trial period - using secret marks on the Banknotes - was undertaken.  This must have been a success as it was later decided to pay him on a commission basis of 3% on all the notes circulated by him.  This decision must have been regretted in 1814 as in my collection there exists a small number of letters from John Grant (of the Excise Office in Kirkcaldy) in which he refers to the debts of Garnock whom he describes as a "vagabond".  It appears that Grant was a Guarantor either with or on behalf of Garnock.

          William Borthwick was recruited by the Directors of the East Lothian Bank at the outset of the business in 1810 and moved from his employment with the Falkirk Union Bank to take up the position of Cashier.  There is some doubt as to his age at the time of the appointment although it is thought he was in the region of 20 - 22 years of age.  His youth for such a position is thought to be reflective of the general lack of experienced Scottish bankers as a consequence many having been recruited by other Scottish, UK and International banks.

           Borthwick's responsibilities were considerable with the Directors (mostly lacking any banking experience) leaning heavily on him.  It is thought that his role was sound in the early years.

          Much can be found on his stated intention to kidnap the Directors of the Bank; to imprison them in air holed vessels and to then set them off on a trade ship to Danzig although whether these comments were a true intention or not is difficult to say.  It is certain that he (either alone or with an accomplice named Goudie) removed cash and bills from the Bank and departed in 1822.  It is very likely that the economic climate of the time was causing other businesses in which he had an interest (with his Brother, Bruce Borthwick) financial difficulty and that William Borthwick was propping up these businesses using the Bank's funds.  When he could support this no longer he fled.

There is some debate as to whether he ever stood trial for the offence although it is known that he was arrested in South America.

        Robert Garnock periodically introduced clients to the Bank and in this letter he appears to be interfacing with the Bank and Mr. Grieve almost in the capacity as Agent for the East Lothian Bank.

       The brief letter refers to the Cash Credit of Mr. Grieve.  The Cash Credit was an invention of the Scottish banks whereby the client obtained the ability to draw loan funds by providing Guarantees from two or three persons of means (“the Sureties”).  In modern times this most closely resembles an overdraft which is secured by Letters of Guarantee although, unlike an overdraft, I believe the Cash Credit was drawn in full.  The suggestion is that the former Sureties of Mr. Grieve are to be replaced by Robert & Hugh Mitchell although the reference to “former” at the same time as “in addition to” is confusing.  Logically Grieve may have fallen out with his existing sureties and sourced Robert and Hugh Mitchell to replace them or alternatively it could be that the former sureties were to remain in place and – either due to a change in their circumstances or Mr. Grieve wishing to borrow more – the Mitchells are introduced to improve the position for the Bank.

       From the 1868 National Gazetteer.  "FISHERROW, a small fishing town and subport to Leith, in the parish of Inveresk, county Edinburgh, Scotland, opposite Musselburgh, in which borough it is included.  It is seated on the left bank of the river Esk, at its embouchure into the Forth.  It is a flourishing little place, containing many good buildings.  It has a harbour, and light visible 5 miles off.  The fishing trade is the great staple of the place, in which the women take an active part."  

       I note that in 1832 a Robert Mitchell, Wood Merchant, Fisherrow is recorded as having died and this may well be one of the sureties.  He was buried in Inveresk Kirk yard where the inscription read “Sacred to the memory of ROBERT MITCHELL, timber-merchant, Fisherrow; his wife, MARGARET LIVIE; and his two sons, JOHN and FRANCIS, all of whom fell victims to that awful visitation of Heaven, the cholera morbus, during the first week of February 1832".

     I am also aware from a website on Musselburgh and Inveresk that there lived in Fisherrow a James Grieve who is recorded as having been a land-waiter residing in Fisherrow.  A land-waiter was a Customs Man who watched over the loading and unloading of boats from foreign ports.  Given that Robert Garnock was in the Excise service it is very likely that this is our “Mr. Grieve”.