Thomas Jefferson Papers

Thomas Jefferson: State of the Finances of the University of Virginia, 6 Apr. 1823, 6 April 1823

Apr. 6. 1823. a general view of the finances of the University

mr Brockenbrough estimated the debts at 20M.D. at the date of the last report, mr Dawson at 27,000. call them then 27,000
the resources to pay that are as follows.
the arrears of subscription were then 18,343. D our Collector has called on almost every man, obtained his assumpsit verbal or written to pay out of his crop this season. he says we shall lose between 4. & 5000.D. by bankruptcies & removals but that we may count on about 14,000.
this year’s annuity has been recd & pd towards the debts  7,800
the annuity of the next year payable Jan. 1. will be *4,200 26,000.
 It may be hoped that the legislature remitting the principal of the debt, will not exact the interest of the present year, which would furnish the 1000.D. deficit and leave us 10,000D. in hand; if they do not, this deficit will cut in on the late loan and leave that only 59,000.
with this sum clear we enter on the Rotunda

But one half of the debts (13,500 D) must be paid immediately the other half the 1st day of Jan. next, and as the 14,000.D. are not in hand, we must borrow it from the new loan to be replaced. for this purpose we must call immedly for 14,000
we shall need for lumber & other advances for the Rotunda about 16,000
 consequently we must call now for 30,000
 we shall have occasion by the 1st of Jan. next for about 15,000
 and the 1st of Jan. 1825. for the balance 15,000
this will save us of interest  18,000D.  this year and
 9,000.  the next

* this shd have been 6300

ViU: Thomas Jefferson Papers (Proctor’s Papers).

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