Editor’s NoteEditor’s Note2531From Robert Owen25 December 1818

New Lanark 25 Dec 1818

My dear Sir

I take blame to myself that you have been so long without a copy of the articles of partnership, but I hope to send them with the copy of the approaching annual balance which may be ready in february next. Although the confidential person who should copy this deed is now occupied in preparation to take stock, wh. is rather a formidable business at this season yet, if you wish it particularly sooner than the time mentioned, it shall be put in hand immediately and finished with the least delay practicable—

The interest due to you at the end of the year shall be remitted to you and whatever profits arise to you will be put to your credit bearing 5 per cent interest. There has been a considerable fall in the price of cotton lately and this effects the value of our stock on hand which on so large a scale as ours must always be considerable our annual balance will be therefore less favourable than a few weeks ago I expected it would be. Our stocks of cotton and yarn are however comparatively light and the decline in price is a temporary evil which generally produces a more permanent benefit. Cotton spinning is the best trade when the raw material is low and for the last two years, owing to speculators in the trade, it has been much above the usual peace price—these speculators are now suffering by the fall and the article is likely to fall to its proper and natural value—

You will be pleased to hear that on my return here I found all things proceeding in the same systematic manner as when I left home and that I didpg 305 not see any thing upon my journey to diminish my attachment to our colony, defective as I know it is compared with arrangements which might be formed for the happiness of the people and the benefit of the public.

                                        With much respect, in haste

                                            I remain My dear Sir

                                                yours sincerely

                                                    Robt. Owen