Philadelphia 31. Oct 1826.
After the several explanations furnished you in regard to Mr. Todd’s money transactions with me, I have delayed pressing upon him a final issue of it, in the hope (as he had left this City & repaired to New York for the express purpose of raising funds to satisfy it) that I should finally hear from him.
Nearly a year has now elapsed since you were made acquainted with the merits of a claim, which left you nothing to desire on the score of the generous feeling of the party who has been the subject of such faithless & cruel treatment in the instance of Mr. Todd. For many months, Mr. Todd has been living in a very expensive house in New York, & in a state of utter indifference to the several repeated pledges made to his injured creditors in Philadelphia.
I therefore found it necessary to write to a legal friend in that City to request his calling his immediate attention to the avowed object for which he was there. Mr. Todd promised (as will be seen by the enclosed letter) to call upon & satisfy Mr. Emmet. He failed in this promise & therefore legal process was issued against him. This Act led to an interview with my Attorney which resulted in Mr. Todds being suffered to remain at large till an answer could be received from You.
As I have already fully stated the ground on which I consented to grant the loan of Stock to Mr. Todd, I made this final appeal to Mr. Madison. It is his justice that will now decide this unhappy concern between his stepson & me. All I ask is a competent guaranty for the debt of Mr. Todd. The time of payment may be made accomodating to almost any extent, and I am moreover urged to this course, as I contemplate, at no very distant period, leaving this Country for Europe.
Your Answer will decide the issue of the process at New York, which I beg the favor of your backing returning together with the enclosed. I remain very respectfully, Dear Sir—Your most Obedient Servant