I had expected with great certainty ere this to have been able to pay off my 2d bond to Griffin in your hands, having, as I informed you, desired mr Gibson to make sale of my flour in his hands (400. Bar.) for whatever he could get; and this I have constantly urged. by our last mail however he informs me that he has offered it at 3¼ Dollars & cannot get that, nor at this time can it be sold for any thing. however afraid of banks, I would have applied to that of Virginia in Richmond, which had very readily offered me an accomodation once before. but so far from making new discounts, they are calling in their debts. these difficulties, so unexpected, have placed me under the mortification of being unable to discharge that bond, as I had counted with confidence. nor do they open any precise prospect as to the moment when they may be expected to cease. the great collection of force at Norfolk offers some hope of a demand for flour, as their consumption is sufficient to produce a sensible demand, & they cannot get supplies but from James river. the opening prospects of peace too, between England & us, which every symptom indicates, and which, the moment it obtains confidence, will put the merchants into motion, give hopes that this state of things will shortly be changed. notwithstanding the random shot of the English & Canada newspapers, there is not the least authentic ground to believe they have sent, or intend to send more than the 15. to 1800. men arrived at Quebec. if they had not meant peace, with their large disposible force, a much greater one would have been here ere the season had so far past over. during the present state of things therefore, and the hope of an early change, I am forced to request your indulgence, altho’ I cannot specify a particular term to it, under the assurance that the very first moment it is brought within my power, the bond shall be discharged. with my regrets for this failure, be pleased to accept the assurance of my great esteem & respect

Th: Jefferson