Current state of affairs [following failure of his banking house]: has dispatched catalogues of his books, drawings, and prints and expects sale to be well attended; Lord [George John] Spencer has already expressed an interest; transcribes a sonnet on being parted with his library. Business of their bank increasing again and if not for the commerical depression they would quickly recover what they had lost, discusses the particular risks of Liverpool banking ventures.

Pleased by Smith's improved health and opportunities to see [Thomas William] Coke and Duke of Bedford [John Russell, 6th Duke]; his own delight at making acquaintance of Lord [George John] and Lady [Lavinia] Spencer [(1762-1831)], who have invited him to spend Christmas at Althorp, [Northamptonshire]. Invited Dr Francis [Buchanan] to Allerton but his ship embarked early. Dispatched parcel of manuscripts to Coke at Holkham, [Norfolk].