James Madison Papers

Bernard Peyton to James Madison, 24 April 1826

Richd. 24 April 1826

Dear Sir,

I am favor’d with yours of the 21st, covering receipts for four Hhds Tobacco, which I will have pleasure in disposing of, to the best advantage, whenever you may so direct. I quote it at present from $3 3/4 to 10, general sales, a very fine Hhd: might reach $11, this price tho’ I fear is temporary, & to continue only whilst the supply is limited, which is yet the case, the receipts up to this time being many hundred short of this day last year: The immense losses sustained by our dealers on the last crop, which has been severely felt across the water also, render them so crippled in means & dispirited, that the article must be lower when the supply becomes great—I do not hesitate therefore to advise sales as speedily as may suit your convenience, even a Waggon load at a time—some times it is an advantage to sell a crop together, but this year I am persuaded it will be no object, while delay may materially reduce its value. I incline to the opinion that in thirty days best Tobacco will not command more than $7 @ 9.

Agreeable to the request of Mrs Madison I send by the Bag samples of Tea, Sugars & Coffee, with the prices of each marked on them—There is no very fine Tea now in market, but some may soon be expected—There is not a Cranberry fit for use in the City.

I have had the Keg filled with Sicily Madiera Wine, at 10/6 per Gallon, which I think you will find very good for the price—The seeds accompany it, & I hope will prove good.

It will always afford me pleasure to serve you and Mrs Madison here in any & every way & beg you will command me without reserve. Most respectfully Dr. Sir Your Obd: Sert.

Bernard Peyton

RC (DLC). Docketed by JM.

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