Monticello May 1. 20
In my letter of Apr. 10. on the subject of the loan of 40. thousand dollars to the Visitors of the University, I stated that they would prefer obtaining the remaining 20,000. D. which they were authorised to borrow, from the Literary fund rather than from any others I beg leave to recall the attention of the Directors of that fund to this proposition, and to ask their determination, as we cannot venture to make the necessary contracts until we are sure of obtaining funds to carry them into effect. if we can be sure of recieving the money a twelve month hence, it would be more advantageous to the University, as saving a year’s dead interest; but if that delay would render the reciept uncertain we must yield to that sacrifice by recieving it . whenever it shall be most convenient for the Literary fund.
DLC: Papers of Thomas Jefferson.