1793 letter London UK to Codman Brothers, Boston merchants

Letter from Boston merchant Richard Codman, who has traveled to London UK to resolve a financial issue related to the family shipping business, to his brother and partner John.  Mentions of trade with Russia, and a vessel of theirs sailing from Falmouth to Cadiz Spain.

Richard soon  moved to France where he adopted a high style of living, entertaining lavishly in two chateaux and a house in Paris, all richly furnished. The partnership of John and Richard Codman was dissolved by the always more prudent John in 1798 'for fear of war.' Meanwhile, Richard had become embroiled in new financial schemes, speculating in currency, real estate and  other commodities in revolutionary France's chaotic economy. By 1799 Richard was ruined financially, necessitating John's going to Europe to extricate him from his debts;

London 17^th May 1793

Dear Brother

I wrote you the day after my arrival per packet & informed you that we had a good passage of 29 days to the Downs, since when the Assignees on the affairs of Lane Son & Fraser (1) are appointed. Mr. Emery Mr. Latham & Mr. Lee & I am in hopes that we shall be able to settle all matters to our minds. The outlines of the settlement are that L.S&F. shall give up the money they have received for the bills remitted by Stevens. Top the sum of £1200 & the other bills of Stevens that are noted for non acceptance, to give up Dowse’s bill with all other papers which may have come into their hands since the failure including the Bank Shares, in consideration of which we are to pay them your private balance & the amt due from Saml Conant & Co. deducting from these sums what on settlement of Jn & R . Codman acct may appear due to them. To be paid 1/3 in 12 mo, 1/3 in 2 years & the other 1/3 in 3 yrs. I have to day been with the Assignees & I am pleased with the Complexion of our affairs. I shall write you particularly

by a Vessel that will sail in a few days for Virginia. I should have been more particular now but have just heard of this Conveyance in the coffee House (2) where I am now writing. Nothing could have been more fortunate than my coming out as I believe the settlement of our affairs with Lane will be much facilitated. Hammond is here and I will sail for Russia in 10 days. William sailed from Falmouth for Cadiz the 12 inst. He will not be able to go to Russia this season as he will be too late besides it would be impossible for me to provide funds for him if he could.

 I am Dear Birther with great affection yrs R. Codman (3)

My love to Sister Codman & all brothers & sisters

Mailed to Mesrs John & Rich Codman Merchants Boston

Manuscript ‘Sh 29” (29 shillings postage). Postmarked ‘---ULY’.

4 pages folded into envelope: 2 with letter text, 1 with mailing information. Detached upper part of letter (letter is complete), some tears along folds

(1)  Lane, Son & Fraser was a prominent London merchant banking firm in the late 18th century, deeply involved in Anglo-American trade and finance.

(2)  In 1793 London, a "Coffee House" referred to much more than just a place to grab a hot drink—it was a hub of commerce, conversation, and culture. Perhaps Lloyd’s Coffee House: The origin of Lloyd’s of London, where shipowners and insurers met to arrange marine insurance.

(3) The Codman brothers were prominent Boston merchants in the late 18th century, deeply involved in international trade and shipping. Here's a detailed look at their activities and legacy:

John Codman III (1755–1803):

A merchant and shipowner, he operated out of Boston and traded extensively with Europe, the West Indies, and Africa. He began in partnership with William Smith, then later with his brother Richard Codman.

Stephen Codman (1758–1844):

Another brother, also engaged in shipping and trade. His ships sailed to Bombay, China, and Europe, and he briefly conducted business from Portland, Maine before returning to Boston.

 Richard Codman (1762–1806):

A Harvard graduate and merchant, he partnered with John in international ventures. Their firm traded with Holland, England, France, and Russia, dealing in a wide range of goods.

The Codman brothers were involved in:

•  Exporting: Codfish, timber, masts, staves, and rum.
•  Importing: Salt, wine, lemons, Russian iron, sailcloth (Russian duck), cordage, tallow, soap, and luxury goods like brandy and fine clothing.
• Shipping logistics: They managed fleets and dealt with insurance, cargo duties, and market fluctuations due to wars and inflation.

Their business was affected by:

• The Napoleonic Wars, which increased demand for American goods.
• The end of the American Revolution, which reshaped trade routes and pricing.

The Codman family became influential in Boston society, with later generations involved in law, real estate, and philanthropy.