Bonds in 1560

[WillowG]

Hi! This is from a book of household accounts from 1560:

Item to the skryvener for the drawing and writing of the bonnds betwixt your lordship and ...

The subject of this bond is unclear, for no loan from this person is recorded in the account

This is probably a silly question, but what was a bond around this time?

Could it be an agreement to borrow something valuable, like a painting for copying, or something? Or does the wording exclude that?

Any and all answers thoughts and ideas are appreciated

Thank you so much in advance

[horselydown86]

It's most likely that the subject of the bond was a sum of money.  From what I have seen in my research, the most common form of credit was monetary loans between people.

The bond was issued by the borrower to the lender, and was probably just a commitment to repay a certain amount of money, plus a certain interest, at a certain date.

I would say that in your case the bond was drawn up in expectation of borrowing money from someone of his acquaintance, but was never used.

[WillowG]

Thank you so much, HD! That was really clarifying!

So a bond wouldn't have been used in the case of borrowing something, or a purchase?

And in either case, that should have shown up in the ledger?

Thank you so much again!

[horselydown86]

So a bond wouldn't have been used in the case of borrowing something, or a purchase?

In theory it probably could have been, but I think it's far less likely than an amount of money.

I have a page of accounts from the estate of my 8^th g-g-f.  It shows six bonds issued by him in the period from 1714 to 1723 and still active (ie with money and interest owing).  The amounts range from 20 to 150 pounds.

And in either case, that should have shown up in the ledger?

Yes.

[WillowG]

I have a page of accounts from the estate of my 8^th g-g-f.  It shows six bonds issued by him in the period from 1714 to 1723 and still active (ie with money and interest owing).  The amounts range from 20 to 150 pounds.

That is so interesting! Sometimes I am shocked (though I shouldn't be) at how sophisticated people and their systems could be back then!

Thank you so much. This is exactly the information I was looking for!!! I really, really appreciate it!