Walter Scott - The Complete Poems of Sir Walter Scott

The descendants of Mr. James Ballantyne charge Sir Walter Scott with having ruined him by his profuse expenditure, and the tremendous responsibilities which he cast upon the printing concern. Mr. Lockhart charges Mr. James Ballantyne with having ruined the business by his own negligence, extravagance, and inattention. Let us see which of these charges is the best supported by facts.

Scott entered into partnership with James Ballantyne in May 1805. James Ballantyne’s brother John (being then the bookkeeper) enters the amount of capital which James had invested in the concern, at £3694, 16s. 11d.; but of these figures no less than £2090 represents ‘stock in trade,’ which it appears from other statements that the same John Ballantyne was in the habit of valuing at most preposterous and exaggerated sums; and the balance of £1604, 16s. lid. is represented by ‘book debts’ to that amount. Scott came in as the monied partner — as the man to prop up the concern; even then his patrimonial fortune was £10,000 or £12,000; he possessed at the time, independently of all literary exertions, an income of £1000 per annum; he advanced for the business £2008, ‘including in the said advance the sum of £500 contained in Mr. Ballantyne’s promissory note, dated 1st February last’ — from which it would seem pretty clear that the affluent Mr. James Ballantyne ran rather short of money about this time — and £40 more, also advanced to Mr. Ballantyne previous to the execution of the deed. Scott, in consideration of this payment, was to have onethird of the business, and James Ballantyne two; his extra third being specially in consideration of his undertaking those duties of management, for the neglect and omission of which, throughout the long correspondence of a long term of years, we find him apologising to Scott himself in every variety of humble, maudlin, abject, and whining prostration.

The very first entry in the very first ‘State,’ or statement of the partnership accounts, is a payment on behalf of James Ballantyne for ‘an acceptance at Kelso? — at Kelso, observe, in his original obscurity and small way of business — ‘£200.’ There are advances to his father to the amount of £270, 19s. 5d., there are his own drafts during the first year of the partnership to the enormous amount of £2378, 4s. 9d., his share of the profits being only £786, 10s. 3d.; Scott’s drafts for the same period being £100 and his share £393, 5s. Id.! At the expiration of five years and a half, the injured and oppressed Mr. James Ballantyne had overdrawn his share of the profits to the amount of £2027, 2s. 5d., while Scott had underdrawn his share by the sum of £577, 2s. 8d. Now let any man of common practical sense, from Mr. Rothschild’s successor, whoever he may be, down to the commonest light-porter and warehouseman who can read and write and cast accounts, say, upon such a statement of figures as this, who was the gainer by the partnership, who may be supposed to have had objects and designs of his own to serve in forming it, and in what pecuniary situation Mr. James Ballantyne — the needy and embarrassed printer of Kelso — must have been placed, when Scott first shed upon him the light of his countenance.

‘Scott, in those days,’ says Mr. Lockhart, ‘had neither bought land, nor indulged in any private habits likely to hamper his pecuniary condition. He had a handsome income, nowise derived from commerce. He was already a highly popular author, and had received from the booksellers copy-monies of then unprecedented magnitude. With him the only speculation and the only source of embarrassment was this printing concern; and how, had the other partner conducted himself in reference to it as Scott did, could it have been any source of embarrassment at all? He was, I cannot but think, imperfectly acquainted with James Ballantyne’s pecuniary means, as well as with his habits and tastes, when the firm was set up. He was deeply injured by his partner’s want of skill and care in the conduct of the concern, and not less so by that partner’s irreclaimable personal extravagance; and he was systematically mystified by the States, etc., prepared by Mr. John. In fact, every balance-sheet that has been preserved, or made accessible to me, seems to be fallacious. They are not of the company’s entire affairs, but of one particular account in their books only — viz. the expenditure on the printing work done, and the produce of that work. This delusive system appears to have continued till the end of 1823, after which date the books are not even added or written up.’

In 1809 the bookselling firm started, Scott having one moiety for his share, and the two brothers the remaining moiety for theirs. He put down £1000 for his share, and lent Mr. James Ballantyne £500 for his (!), and by the month of June 1810 he had embarked £9000 in the two concerns. Mr. James Ballantyne, even now, had no capital; he borrowed capital from Scott to form the bookselling establishment; he rendered the system of accommodation bills necessary by so egregiously overdrawing so small a capital as they started with; and not satisfied with this, he grossly neglected and mismanaged the business (by his own confession) during the whole time of its superintendence being entrusted to him.

In 1815 (the year of Mr. James Ballantyne’s marriage) the bookselling business was abandoned; there were no resources with which to meet its obligations but those of the printing company, and Scott, in January 1816, writes thus to him —

‘The burthen must be upon you and me — that is, on the printing office. If you will agree to conduct this business henceforth with steadiness and care, and to content yourself with £400 a year from it for your private purposes, its profits will ultimately set us free. I agree that we should grant mutual discharges as booksellers, and consider the whole debt as attaching to you and me as printers. I agree, farther, that the responsibility of the whole debt should be assumed by myself alone for the present — provided you, on your part, never interfere with the printing profits, beyond your allowance, until the debt has been obliterated, or put into such a train of liquidation that you see your way clear, and voluntarily reassume your station as my partner, instead of continuing to be, as you now must consider yourself, merely my steward, bookkeeper, and manager in the Canongate.”

Now, could the dullest and most addle-headed man alive be brought to believe — is it in human nature, in common sense, or common reason — that if Mr. James Ballantyne had the smallest ground of just complaint against Scott at this time, he would have listened to such a proposition? But he did listen to it, and eagerly embraced it; and in the October of that very year this same Mr. James Ballantyne, whose besotted trustees have dragged the circumstance to light from the concealment in which Mr. Lockhart mercifully left it — this same Mr. James Ballantyne, the plundered and deluded victim of Scott, announces to him that, being pressed by a younger brother at Kelso for a personal debt — not a partnership liability — a personal debt of £500, he had paid away to him a bill of the company, and, but for this bill being dishonoured by an accidental circumstance, Scott would, in all human probability, have never heard one word of the matter down to the day of his death.

Does Mr. James Ballantyne brazen this proceeding out, and retort upon Scott, ‘I have been your tool and instrument. But for you I should have been by this time a man in affluent circumstances, and well able to pay this money. You brought me to this pass by your misconduct; it was your bounden duty to extricate me, and I had a right to extricate myself by the use of your name for my own purposes, when you have so often used mine for yours,? Judge from the following extracts from his letters on the subject: —