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<!--
<!-- Begin
// ADDITIONAL NOTES
// The input variables to the toggle function are the number of the submenu to open/close,
// starting with 0, and the number of pixels to move the objects below.
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//-->
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Palmer
in trouble as debts mount:
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To
pay off some of his debts Palmer went to money-lenders but some of them
charged up to 60% interest. One of the money-lenders Thomas Pratt is shown
below in the left margin. The other main money-lender was Mr. Padwick who
sued Palmer's mother to recover some of the money owed to him. (See Crimes
Not Murder page under Fraud and Forgery).
At one time he bought two top class horses at £2,000 guineas each
even though he could not afford to buy them. His mother was rich and in
desperation he forged her signature to guarantee the loans to buy the horses.
When Annie his wife died in September 1854 the insurance money, £13,000,
was paid to him six weeks after her death, but this only went part way towards
settling his large debts. By the autumn of 1855 he owed £15,000 and
bills for a further £11,500 were due in the November. If these bills
were not settled his forging of his mother's signature was likely to be
discovered. He probably also owed money to many of the local tradesmen.
Later
he also forged John Parsons Cook's signature to secure more loans.
One
of Palmer's horses was bought for 280 guineas by the Prince Consort when
his possession were sold off after his arrest.
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