A brief letter simply addressed to "The Manager, E.L.Bank, Dunbar.

The letter reads as follows.

From:              James Gunn, Forres.

Dated:            14^th November 1810

 Sir,

                        My friend Mr. Macintyre left with me one Hundred pounds sterling of your notes to distribute for circulation in this quarter.  I now enclose a Draft on the British Linen Company value with stamp one hundred pounds of which (you will please own) receipt.  I will be pleased? at any future period to render any assistance to I may?.

                        Your most obedient Servant.

                                                                        James Gunn

        Unfortunately I can find no reference to a James Gunn of Forres and I have no knowledge of who Mr MacIntyre was.

       This letter is included due to its reference to the distribution of banknotes.  At the time of establishing a private bank the founders would be very keen that the banknotes of the bank obtained ready acceptance with the banknotes of the day (similar to modern banknotes) also being a form of advert for the bank in promoting its name. 

        The road distance between Dunbar to Forres is 197 miles and this is using modern roads.  The travelling time in 1810, both due to the type of transport and the quality of the roads, must have made the journey from Dunbar to Forres considerable and it would hold appeal for the East Lothian Bank to have its notes distributed so far from "home" and therefore unlikely to be presented at Dunbar for payment at any early date.

       The reference to pounds "sterling" is likely to be be a hangover from the period (pre 1707) where the Scots and English pounds were of differing values.  Prior to the Union of 1707 (when the English pound was adopted) the pound sterling was worth 4 pounds Scots (1488) . In 1560, 5 pounds Scots equalled 1 pound sterling. When James VI succeeded to the throne of England in 1603 the exchange rate for Scots pounds to sterling was fixed at 12:1.