JB/122/490/001

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§.3. First branch of the damage - Loss by Capital
expended.

As the profit, expectable from the system of mechanical
inventions, was in part consolidated, as will be seen, with the
profit expectable from the fulfilment of the Contract respecting
the maintenance and employment of Convicts, and the damage by
loss of this first mentioned mass of profit thereby pro tanto merged
in the damage by loss of the other, so the first branch of damage, viz.
damage by the consumption of the said capital, may be considered as
being, in the like manner, merged in the second branch, viz. profit
expectable upon that same capital, from the private manufacturing
concern; or, at any rate, in that & the above mentioned third branch
of damage, viz. loss and damage by reason of the non fulfilment of the
said contract put together.

If it should appear, that, in respect of the Contract, thus
combined, as it will be seen to have been, with the aforesaid manufacturing
concern, a mass of profit might, on reasonable grounds, have been
expected, to an amount exceeding the greatest, which, all things considered
the Lords Commissioners of the Treasury would, notwithstanding
<hi rend="underline">the terms of the Act be likely to regard themselves as warranted in
paying, even though called upon so to do by an Award, made by my
said Arbitrators, in direct pursuance to the said Act - in that event
all enquiry into the amount of capital expended, or otherwise consumed,
would, it is supposed, be regarded by them as so much labour expended
to no use.

This considered, I shall therefore for the present and unless
and until it be otherwise required of me, forbear to give them
any trouble on the head of this first branch of the damage: stating
only the sum of £12,000 more or less expended or otherwise necessarily
consumed in the years 1791, 1792, 1793, 1794 & 1795 upon
or

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