Thomas Jefferson Papers

From Thomas Jefferson to Patrick Gibson, 22 April 1819

Poplar Forest Apr. 22. 19.

Dear Sir

While here, and at my usual season for settling the affairs of the year, I have taken a view of their present standing between us which I will here state as nearly as I can, setting out on the basis of your account of Feb. 8. when 306. Barrels of flour had been sold & a balance of 724.15 D remained against me.

Apr. 7. the letter of this date states 288 B recd after Feb. 8. & sold for 1751. D
since Apr. 7. there have been sent hence & from Albemarle at 50.
and there is gone or will immediately go from Shadwell mills 50.
100. say 600
the tobo sent hence & a little still to go 13,000. ℔ say 1040
We are then to set off against this sum of 3391
the balance of Feb. 8. 724. 15
Feb. 1. my draught in favor of Leitch 108. 33
24. Ellen W. Randolph 100.
26. duties on wine 133. 44
Mar. 9. my draught in favor of Yancey 58. 65
25. Mayo 25. 37½
Apr. 4. Gray 43. 25
8. Garrett 300.
Leitch 125. 04
11. Bacon 33. 75   1651. 98
which will leave (conjecturally but nearly) a balance in my favr 1739. 02
on this I shall be obliged to make draughts, to wit
for remittances to Europe 800. D.
for country debts about 1350 2150.  
which would leave a deficit of about 410. 98

this deficit is the effect of the unfortunate fall in the price of produce and at a time so critical for me. The medium price for several years past, on nearly 700. Bar of flour & on the tobo would have made a difference sufficient not only to cover this balance but to enable me to have redeemed one of my notes in bank. as it is, it is impossible for me to supply the deficit unless one of the banks (besides continuing the 1500.D. note) will add 500.D. to it. I hope they will do it, and in that confidence, I will on my return to Monticello (say 4. or 5. days hence) send you a note for 2000.D. i.e. to cover the former 1500. & the additional 500.D. endorsed by my grandson. in asking this favor of the bank; I shall hope for the friendly influence of Colo Nicholas: and to relieve myself from these painful necessities, I am urging the sale of some detached parcels of land which I have here and in Albemarle. but there is at present an entire stagnation of purchase here, occasioned by the crisis of bank engagements which suspends business in Lynchburg and it’s vicinity for the present. it is believed however that the extent of embarrasments is now understood, and this trial having severed the unsound from the sound members of the body, it is presumable that business & confidence willbesoon again revived; so that in the course of the year I may hope to recieve reasonable offers for what I propose to all of the conjectural balance above stated, the first necessary and urgent call is for the 800.D. to be remitted to Europe. this sum I must therefore pray you at your first possible convenience to place in the hands of mr John Vaughan of Philadelphia on my account. the country demands can await the issue of the note I am to send you.

I salute you with constant friendship and respect.

Th: Jefferson

MHi: Coolidge Collection.

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