Sir Walter Ralegh: A BiographyStebbing, W. (William)
History
Sir Walter Ralegh: A Biography
Stebbing, W. (William)
Biography; Raleigh, Walter, Sir, 1552?-1618
Apparently the case was too technically plain against the deed for it to
be seriously defended. Ralegh before the formal judgment had assented,
under protest, to a proposal for the conveyance of his wife's and son's
interest during his life to the Crown for a sum of £5000 to be paid the
next year. For the remainder in fee he and she both struggled a while
longer. Finally, formal judgment having been given for the Crown on
October 27, 1608, they agreed to convey absolutely the entire interest
for an annuity of £400, to be paid for the lives of lady Ralegh and
young Walter, in lieu of Lady Ralegh's right to jointure out of the
estate, and for a capital sum of £8000. In this the £5000 was to merge.
The annuity was often in arrear. Part of the £8000 was paid down, and
Ralegh lent it on mortgage to the dowager Countess of Bedford. For the
rest the Exchequer not very regularly paid interest. The rental of the
Sherborne lands was £750. This at sixteen years' purchase was £12,000.
Consequently, it has been urged, the Crown did not drive a hard bargain.
They who thus argue confess to some perplexity how the property could
shortly afterwards have been, as it was, valued against Carr himself at
£20,000 or £25,000. They have forgotten that the £750 rental does not
allow for the worth of the house Ralegh had built, and for its costly
embellishments.
[Sidenote: _Vicissitudes of Ownership._]
[Sidenote: _Sale to Digby._]
Ralegh, with the certainty of a legal declaration of the forfeiture of
the fee, had reluctantly assented to the compromise. He was weary and
sick. He would be glad, he wrote, never to hear the place named
thenceforth. Not so easily could he divorce himself from it. There was
his old bailiff, whose insolent persecution tied him to the estate. In
April, 1610, Meere had the effrontery to offer to prove by a letter,
probably forged, that Ralegh had promised him £100 a-year to conceal a
set of frauds. His own heart cherished a lingering hope of a restoration
of the property after all. In 1612 it seemed to be on the point of
returning to him. Prince Henry expressed his indignation that a place of
so much strength and beauty should have been given away, and had begged
it of his father in the summer. James consented, and compensated Carr
with £25,000 or £20,000. Ralegh and his friends believed that the Prince
meant to bestow it on him with his freedom. On the Prince's death in
November it reverted to the Crown, which sold a lease of it to Sir
Robert Phillips. The transaction was speedily cancelled, and James gave
the place back to Carr for the sum of £20,000, which, if not more, he
had received. Three years later Carr's attainder shifted it over once
again. Villiers might have had it, and refused. He would not, he said,
have his fortune built upon another man's ruins. His contemporaries
thought he might have been influenced also by fear of Bishop Osmund's
curse upon all who should take Sherborne from the bishopric. Had he
Public-domain text, read in full here on John Shaqi.
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