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The New Hampshire Gazette
Portsmouth, Rockingham County, New Hampshire
What is this article about?
Extract from a London letter highlights British wartime woes: council discord, £5M dockyard debts, 11% loans, specie drain aiding Russian Empress, and 120,000 troop losses in Germany from 160,000. Americans show strong morale with oversubscribed 3.25% loan totaling £10M for £5M need.
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Extract of a Letter from London.
We have a delightful Prospect before us, if we consider the Situation of Affairs with the enemy. At Home they are jarring in their Councils, and in the utmost Distresses for Money. I am told from indisputable Authority, that they owe Five Millions Sterling to their Dock Yards. The last Loan they rais'd at 11 per Cent. They have experienced the Mischief of Continental Connections; being drain'd of their Specie in supporting the Empress of Russia: and that of 160,000 Troops which march'd into Germany, there is scarce 40,000 now alive. On the other Hand, the Spirit of our People is no way broke, nor their Confidence shaken. A stronger Instance I need not mention, than this one, the Books being open'd for a Loan of Five Millions, within six Weeks, Ten Millions was subscribed: and many People disappointed that wanted to subscribe large Sums, and that at three and one Quarter per Cent. Interest.
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Foreign News Details
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London
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Outcome
british: owe five millions sterling to dock yards, last loan at 11 per cent, drained of specie supporting russia, of 160,000 troops to germany scarce 40,000 alive; american: loan of five millions subscribed ten millions at three and one quarter per cent within six weeks
Event Details
Letter reports delightful prospect against enemy: they jar in councils, in distress for money, owe five millions to dock yards, last loan at 11%, mischief from continental connections draining specie for Russian Empress, 160,000 troops to Germany now scarce 40,000 alive; our people's spirit unbroken, confidence unshaken, evidenced by oversubscribed loan