on or before 7 Nov. 1805
The amount of the propositions this day made by the Creek Chiefs, are that we pay them $200,000 in 18 annual instalments, which by an eaqual division of the whole sum, would amount to $11,111,11,1, each year—and in addition to the above sum, they require in tools & blacksmiths, what may be estimated at $22,600,—It is presumed that they may be induced to relinquish one half of the last mentioned claim.
The difference between paying $200,000 down, or a perpetual interest for that sum, and paying by 18 eaqual instalments, will be $102,000, or thereabouts, which will reduce the sum of $200,000. to $98,000. The foregoing difference, is the result of a deduction of the interest of 17 years, from the sum remaining after each payment every year.
by paying $12,000 each of the two firs[t] years
And $11,000 each of the other 16 years
would amount to the sum proposed, and reduce each payment to round numbers, which would be more convenient, in fixing the stipulation, & in the payments—
DLC: Papers of Thomas Jefferson.