State of the Case of the Heirs of the late Arthur Dobbs Esqr. Formerly Governor of North Carolina.
Arthur Dobbs Esqr. purchased, about 50 years Since, above Two hundred thousand Acres of Land in North Carolina. He possess'd no Land by any Grant From the Crown, What he possessed was by a fair purchase, For which he paid Two thousand Pounds Sterling.
The Property has been all taken From the Heirs of Arthur Dobbs on the late revolution in America, and they have never hitherto received any compensation whatever.
It is not now in the power of the Heirs of Arthur Dobbs to ascertain the value of the said Lands, with any accuracy; it may however be naturally supposed to have been superior to the Sum originally paid for the purchase.
Some others made therefore Sums necessary, in order to form Some reasonable estimate of the claim of Mr. Dobbs's Heirs, and in their circumstances it does not appear that any can be adduced So consonant to equity as to calculate what £2000 advanced 50 years ago woud have produced at this day.
Were this Sum to be carried on at compound interest annually the Amount woud be of great magnitude, but the Heirs of Mr. Dobbs do not wish to urge their claim but with Such moderation and with such equity as may place it in an unexceptionable light, and therefore, instead of computing the Principal at compound interest annually, they confine it to what they presume to be practicable, and within the power of every Man to accomplish that is, to consolidate Principal and Interest every tenth year. On this Principle their claim will stand as follows
|Interest of £2000 For 10 Years at 5 per Cent||
|Interest of £3000 For 10 Years at do.||1500|
|Interest of £4500 for 10 Years||2250|
|Interest of £6750 For 10 Years||3375|
|Interest of £10125 For 10 Years||5062.10|
The Case of the Heirs of the late Arthur Dobbs Esqr. Formerly Governor of North Carolina.