Kirk Session Virtual Volumes

[Gray865]

Could someone please explain what was going on here within the kirk session minutes - this is an excerpt;
The Minister having acquainted the session that he was to pay up the 200 merks of poors money in his hand and for which he granted his Bill. The Treasurer to receive the said 200 merks with the eight merks of interest due upon Whitsunday next and to look out for a good hand for the money. At the next session meeting the Treasurer had found a good hand for the 1000 merks given to him and produced a Bond and judged as sufficient security. The 'good hand' was outwith this particular church.
TIA  Gray865

[Forfarian]

I interpret that as the minister, having borrowed 200 merks and given an IOU or similar written document, returning what he owed, with interest.

The treasurer then lent 1000 merks to someone else, receiving their IOU and the approval of the Session for the loan.

It's quite common to see in the KS accounts money coming in as interest on bills granted, i.e. loans made by the KS to suitable borrowers.

[GR2]

As Forfarian says, you could not put the money in a bank then nor did you want to keep too much money in cash in the "box", so lending it out at interest kept it safe and provided an annual income. You had to be careful that the person borrowing the money would not default, so it was very often lent to local landowners.

Although Sterling was the official currency of Scotland from 1707, the £ Scots was still used for accounting throughout the 18th century.

200 merks = £133 6s 8d Scots = £11 2s 2 1/2d Sterling

1,000 merks = £666 13s 4d Scots = £55 11s Sterling

[Gray865]

Thank you Forfarian and Gr2 for your explanations it makes sense now. Gray865