1 Sentences With "offer as security"

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During the 1630s, he took part in his father's efforts to drain the Great Level, serving as a commissioner of sewers there from 1631 to 1636 or later, but was largely occupied in dealing with his own accumulation of debts. The figure of £60,000 for his debts was given in a petition to the House of Commons in 1641; an enormous sum, if truthfully reported, for an heir apparent with a negligible estate of his own to offer as security. Two earlier petitions recited liabilities on his part of £6,900, still very significant, and he was also prosecuted as a surety for the debts of Sir Thomas Cheney, his uncle by marriage. As Clarendon avers, his debts did cause havoc for his sureties: some of the possessions of his uncle Sir Alexander St John were distrained by Lord St John's creditors, and Sir Capell Bedell, another surety, made a composition with Lord Bolingbroke to pay some of the debts to avoid the same fate.