I recd Sir by the last mail, your letter of the 9th. inst: I can not but wish well to the object of the prospectus communicated, and feel all the respect due to the names which subscribe to it. But I am restrained from conforming to the example by a rule prescribed by the age I have reached, & other considerations, which not only forbids new subscriptions, but is withdrawing the greater part of those now in force, and which had become so multiplied as to be inconvenient in their amount, as well as in the recurring attentions required by them.

I hope this explanation will be received as it is intended & that you will see in it nothing inconsistent with the friendly respects & good wishes, which I tender you.