James Madison Papers

James Madison to Bernard Peyton, 7 June 1827

June 7. 1827

Dr Sir

Yours of the 2d. is duly recd. I was not very sanguine as to the sale of my Tobo. being aware of the effect of the drought on it. But it has fallen short of my hopes, not being sufficiently aware of the mismanagement complained of. We must try & do of more justice to the crop on hand which is an enlarged one, and in land which promises Tobo. of the first quality: The prospect in our wheat fields is at present more promising than it has been for a number of years. The crop of last year was little short of total failure.

The disappt. in the proceeds of my Tobo. is the more felt, as I am disappd. also in payments of considerable amount of which I recd. repeated assurances, & on part of which I had fully relied till a late mail substituted apologies & promises for what was expected. These circumstances will make it convenient for me to avail myself of a prolonged indulgence of the Bank; and probably, of some enlargement also, with the requisite aid for the purpose so kindly offered from yourself. As the debt on the note of Mr. Peters must be paid at all events, it may be best to apply the proceeds of the Tobo. as far as a discharge of the accts. for articles sent us will permit to that object at once, or to make such arrangts. with the Bank as will produce a saving of interests.

My waggon is not yet returned from its last trip. I find there will be two more loads, including what belongs to a friend & is consolidated with mine


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