WCP3191

[1]

The Library,

British Medical Association,

429, Strand,

London, W. C.

165 Vauxhall Bridge Rd., S.W

1.XII.99

Dear Dr. Wallace,

Can you help me? Among your many wealthy friends, who are with us on the L.N.¹ question, do you know of any likely to lend me some money, or note of hand, to start me once more in practice? For 4 weary years I have been drifting as a mere piece of jetsam, with no house or home & [2] detached from all social & civic connection with the community. At present I can command £1200 at the outside. I need £300 or £400 more, but for that can give no security except my prom. note & the ^safe nature of my undertaking. At this moment a practice is offered of £1000 per an. gross (Hovingham was £1200), unopposed [3] & with £400 in appointments guaranteed transferrable. It is the appointments that are the secure foundation ^{secure new position against} any [illeg.] Once fairly established, I'd sell, ^{if necessary a share in} part of the practice to a partner at 2 years' purchase. The price of the whole is the usual 1 1/2 years', or £1500. It is far safer for one to invest in a larger ^practice than in a small practice ^one where the working expenses are greatly disproportionate to the gross earnings. I don't, of course, need actual [4] money. It wd be the same thing if some benevolent² soul wd lend me his credit by enabling me to draw by bill of exchange ^{or other form of joint responsibility}. Of course. The goodwill of the practice is a negotiable commodity, & I daresay a legal arrangement cd be effected, giving a first claim or mortgage upon it, which cd insure my life for the sum involved, as collateral security against my possible demise. The income wd be sufficient to enable me to pay off the loan in a year, or at most two. In pity come to my aid somehow, if you possibly can. I am living an aimless, demoralising & depressing life, [5] that seems as if it might end in loss of reason.³

Yours in the cause | M P M Watt⁴ [signature]

Would Mr Logan be likely to lend me a hand?

P.S. Excuse many corrections called for by hurry & loose wording⁵