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"The 1833 Act did not come into force until 1 August 1834. Nathan Rothschild was the contractor (with other members of a consortium) for the ‘West India loan’ of 1835 (also referred to in some sources as the ‘West Indies loan’) which raised the greater part of the £20 million required by the British government to make the compensation payments. On 29 July 1835 Viscount Melbourne and Thomas Spring Rice (Prime Minister and Chancellor of the Exchequer respectively) explained the terms of the contract to around thirty interested parties. The loan would not be raised through a bond issued by a banking house but through the sale of British government consols and long annuities to the highest bidder. Concerns were expressed about the wisdom of removing so much money from circulation, and the ability of the Bank of England to supply sufficient bullion to meet subscribers’ obligations. Perhaps as a result of these concerns, on Monday 3 August 1835 only one tender was presented, all others having been withdrawn: the remaining tender was from “Mr Rothschild, Mr Montefiore, Mr Ricardo, Sir J. Reid”. It fell below the Treasury’s reserve offer, but after some short consultation, the group agreed to accept the government’s terms.

Regretfully, as is common for many of the early loan issues of the London house, there appears to be very little trace of the West India loan in the holdings of the Archive. As the loan did not take the form of a bond issued by the London bank, there is no documentation in the loans series. Nathan Mayer Rothschild died in 1836."

https://guide-to-the-archive.rothschildarchive.org/the-london-banking-house/depts/loans-business/the-west-india-loan