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Auction: 14017 - Bonds and Share Certificates of the World
Lot: 383

Scottish 'Forced' Loan, 1644, certificate for 600 merks (£400), “for raising of moneys for a present supply to the armies sent to England and Ireland”, Edinburgh 22nd August 1644, Signed by the Earl of Lauderdale, Lord Elphinston and Baron Balmerino.
Signed by the Earl of Lauderdale, Lord Elphinston and Baron Balmerino, black printing, a few other hand signatures, rough edges and some water damage at bottom, good fine and very rare. One of only two examples known.

A number of 'forced' loans were raised at this time to fund the battles of the English Civil War. Acts were passed by both the Scottish Parliament and by King Charles in 1644, using both law and moral pressure to raise the funds.
Charles I fight with Scotland went back to 1633 when he decided that the English Book of Common Prayer should be introduced into Scotland. Feeling ran high and rioting broke out in the main towns. In 1638 the Scottish Assembly drew up a National Covenant abolishing the Book of Common Prayer and later also abolishing bishops. This provoked Military action by the English but in 1640 the Scottish Covenanters invaded England and gained the upper hand. When Scottish nobles joined with the English against the Covenanters a truce was drawn up. Soon afterwards the King declared war on the English Parliament who in 1643 made an alliance with the Covenanters. The Covenanters again invaded England in 1644 to join with the Parliamentarians and it is this loan that was used to pay for the troops. The certificate states that interest was to be paid but does not state the rate and also promises to pay the principal from excise duties raised in England.
John Maitland, 1st Earl of Lauderdale, Viscount of Lauderdale, Viscount Maitland, and Lord Thirlestane and Boltoun, (died January 1645). President of the Scottish Parliament as well as the Privy Council, sided with the Parliamentarian cause during the Civil War.
Alexander Elphinstone, 5th Lord Elphinstone (1577-1648).
John Elphinstone, 2nd Lord Balmerino (? - 1649). Sentenced to death in 1634 for libel against the crown but released after serving just over a year in prison.


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