Page 91 - The Wish Stream Year of 2020 Crest

Regulation price of commissions example (1837)
(‘today’s money’ equivalent)
Rank
Infantry
Cavalry
Life Guards
Foot Guards
Cornet/Ensign
£450 (£27K)
£840 (£51K)
£1,260 (£76K)
£1,200 (£73K)
Lieutenant
£700 (£42K)
£1,190 (£72K)
£1,785 (£108K)
£2,050 (£124K)
Captain
£1,800 (£109K)
£3,225 (£195K)
£3,500 (£211K)
£4,800 (£290K)
Major
£3,200 (£193K)
£4,575 (£276K)
£5,350 (£323K)
£8,300 (£501K)
Lieutenant Colonel
£4,500 (£272K)
£6,175 (£373K)
£7,250 (£438K)
£9,000 (£544K)
These prices were incremental. To purchase a promotion, an officer only had to pay the differ- ence in price between his existing rank and the desired rank.
‘Today’s money’ values are calculated using the National Audit Office Currency Convertor. The data used to provide the calculations for the cur- rency converter has been collated from original documents and official statistics, and the survey of material used has been as comprehensive as possible. However, the results of the calculations are intended to be a general guide to historical values, rather than a categorical statement of fact.
Author’s note: this article is not claimed as origi- nal research, but rather the extensive use of existing material, primarily: ‘The Purchase Sys- tem in the British Army 1660 – 1871’ by Anthony Bruce (Royal Historical Society Studies in History 1980).
All illustrations, apart from that of Lt Col Le Marchant, are reproduced with the kind permis- sion of the National Portrait Gallery.
ADVERTORIAL FEATURE
Holt’s – the Customer Backbrief
Being in the Armed Forces comes with certain nuances that a lot of people do not understand and can have significant
impact on the service you require. Not hav- ing to go in depth to explain what these are when you get posted abroad, go on a deploy- ment... or simply are out of the country for a prolonged period of time, avoids unnecessary stress.
"The personal relationship that the Holt’s team bring, means that the advice you receive is not only trailered to you, but is then adapted to fit your exact circumstances, which you simply do not get at other banks... it is unique to each individual circumstance, something I have certainly benefited from. I could not rec- ommend them more.”
Captain Thomas Yaxley MERCIAN
“Since Joining Holt’s banking back as an OCdt in Sandhurst, I have never looked back. My Relationship Manager has been an outstanding and unwavering support to me through thick and thin. The proactive guid- ance she offers comes in a personal approach that makes you feel
like you are their only customer. I genuinely believe it’s one of the best Military partner- ships there is to take advantage of.”
Captain Rob Reed AAC
HISTORICAL 89