Aristocratic indebtedness : the Anson Estates in Staffordshire 1818-1880
The Anson family were established at Shugborough by 1625; they flourished throughout the 18th century, accumulating land, status, wealth and, in the early 19th century, titles. 1842, however, saw a sale of the contents of Shugborough. Examination of mortgage records and agents' accounts shows that for two decades prior this the 1st Earl of Lichfield had been raising numerous mortgages from local sources, on a scale far greater than that indicated by the sale. In 1838 these were replaced by a single .ortgage of ÂŁ300,000 from a London insurance company. Further loans were raised on the 1st Earl's death. Although the total mortgage burden was greatest after 1854, other indicators show that the period around 1840 was a ti.e of great financial stress. The loan burden was attacked only when the estate faced up to another crisis in 1880, when falling income forced the 4th Viscount to begin the process of debt reduction. H.ving qu.ntified the problem, the study tries to weigh the balance of causes, between personal extravagance and more structured behaviour. The for.er precipitated the Shugborough sale, but the mortgages financed a progr .... of land and property acquisition aimed at consolidation and the continuance
Sambrook, Pamela
History
Aristocratic indebtedness : the Anson Estates in Staffordshire 1818-1880. The Anson family were established at Shugborough by 1625; they flourished throughout the 18th century, accumulating land, status, wealth and, in the early 19th century, titles. 1842, however, saw a sale of the contents of Shugborough. Examination of mortgage records and agents' accounts shows that for two decades prior this the 1st Earl of Lichfield had been raising numerous mortgages from local sources, on a scale far greater than that indicated by the sale. In 1838 these were replaced by a single .ortgage of ÂŁ300,000 from a London insurance company. Further loans were raised on the 1st Earl's death. Although the total mortgage burden was greatest after 1854, other indicators show that the period around 1840 was a ti.e of great financial stress. The loan burden was attacked only when the estate faced up to another crisis in 1880, when falling income forced the 4th Viscount to begin the process of debt reduction. H.ving qu.ntified the problem, the study tries to weigh the balance of causes, between personal extravagance and more structured behaviour. The for.er precipitated the Shugborough sale, but the mortgages financed a progr .... of land and property acquisition aimed at consolidation and the continuance
aristocratic indebtedness estates staffordshire family establish flourish throughout accumulate land status wealth title however saw sale content examination mortgage record agent account show prior earl raise numerous mortgage local source scale far_great indicated sale replace single london insurance company loan raise earl death although total mortgage burden great indicator show period around tie great financial stress loan burden attack estate face another crisis fall income force begin process debt reduction problem study try balance cause personal structure behaviour precipitate sale mortgage finance land property acquisition aim consolidation