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Auction: 9027 - Bonds & Shares of the World
Lot: 341

Exchequer receipt, February 1678, for payment of £600 on a loan of £5000 raised by the issue of an Exchequer Order in 1677, manuscript document signed by Charles Duncombe, somewhat waterworn which is often the case with these early pieces, has been repaired in places, fair. Estimate £ 175 Sir Charles Duncombe (1648 - 1711), banker and politician. Duncombe was apprenticed to the well known London goldsmith Edward Backwell. Appointed Receiver of the Customs, a post which he held for some years, and made a fortune in banking, said to be worth £400,000 when he died, the richest commoner in England. Elected to Parliament in 1685, and represented Hedon, Yarmouth (Isle of Wight) and Downton, supporting the Tories. During this period he opposed the establishment of the Bank of England. In 1698, Duncombe was arrested and imprisoned in the Tower of London, and subsequently expelled from the House of Commons, for "contriving and advising the making of false Indorsements of several Bills, made forth at the Receipt of Exchequer, commonly called Exchequer-Bills", but when tried he was acquitted through a mistake in the information. He was later knighted in 1699.

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