12th April 1814.

"Sir,

"I have this moment received a letter, of which the enclosed
is a copy, and lose no time in transmitting it to you for the
information of the gentlemen composing the Stock Exchange
Committee; from the bearer of the letter, I am given to
understand, that Mr. M'Rae, is willing to disclose the names
of the Principals concerned in the late hoax, on being paid
the sum of L.10,000. to be deposited in some banker's hands,
in the names of two persons, to be nominated by himself, and
to be paid to him on the conviction of the offenders.

I am happy to say, that there seems now a reasonable prospect
of discovering the authors of the late hoax, and I cannot
evince my anxious wish to promote such discovery, more than by
assuring you that I am ready to contribute liberally towards
the above sum of 10,000_l._ and I rest assured, that you will
eagerly avail yourselves of this opportunity, to effect the
proposed discovery (an object you profess to have so much at
heart) by concurring with me in such contribution.

I have the honour to be, Sir,
Your obedient humble servant,
(Signed) _A. Cochrane Johnstone_."

[_The inclosure was read as follows:_]

"April 12th.

"Sir,

"I authorize the bearer of this note, to state to you that I
am prepared to lay before the Public, the names of the persons
who planned and carried into effect the late hoax, practised
at the Stock Exchange the 21st of February, provided you
accede to the terms which my friend will lay before you.

I am, Sir,
Your obedient Servant,
_A. M'Rae_."

To the honourable,
Cochrane Johnstone.

"No. 18, Great Cumberland-street,
18th April 1814.

"Sir,

"I have to request, that you will be so good as to inform me
what are the intentions of the Stock Exchange, on the subject
of the letter which I addressed to you relative to the
proposal of Mr. M'Rae.

Lord Cochrane, Mr. Butt, and myself, are willing to subscribe
1,000_l._ each, in aid of the 10,000_l._ required by Mr.
M'Rae; the bearer waits your answer, which, to prevent any
mistake, I hope you will find time to commit to writing.

I