Resolutions of the President and Directors of the Literary Fund, 12 April 1820
Resolutions of the President and Directors of the Literary Fund
At a Meeting of the President & Directors of the Literary Fund, on Wednesday, the 12th of April 1820.—
| Present | the Governor, |
| Lieutenant Governor, | |
| Attorney General, | |
| and Treasurer.— |
The Governor laid before the Board a Letter from Thomas Jefferson Rector of the University of Virginia, dated April 10th 1820, requesting, in behalf of the Rector and Visitors of the said University, a modification of the Resolutions concerning the loan thereto, so as to postpone the commencement of payments of the instalments one year longer; that is to say; that the first instalment be made payable at the end of four instead of three years; which being maturely considered;—
Resolved, that the said request be granted, and that the Bond to be given by the said Rector & Visitors be executed in conformity therewith.—
The said Bond was accordingly executed, and, being examined and approved by the Board, is ordered to be filed by the Clerk;—whereupon, Resolved, that the Auditor of public Accounts be directed to issue a Warrant on the Treasury to Alexander Garrett Bursar of the University of Virginia, for the sum of forty thousand dollars loaned by the President and Directors of the Literary Fund to the Rector and Visitors of the University of Virginia.—
And then the Board adjourned.
Teste
|
Wm Munford, Clerk of the Literary Fund.— |
Th: M. Randolph. President. |
MS (Vi: RG 27, Virginia Literary Fund Minute Book); in Munford’s hand, signed by Randolph and countersigned by Munford.
Unlike the other resolutions of the President and Directors of the Literary Fund related to the loan requested by the University of Virginia, no text of the above proceedings is known to have been sent to TJ. His silence in his letter to Randolph of 1 May 1820 on the subject of the desired one-year postponement in beginning loan repayment, however, suggests that TJ was aware by then of the Literary Fund directors’ agreement to this proposition.
James E. Heath was the auditor of public accounts.
Index Entries
- Garrett, Alexander; as University of Virginia bursar search
- Heath, James Ewell; as Va. auditor of public accounts search
- Literary Fund; and loan for University of Virginia search
- Literary Fund; resolutions of the president and directors search
- Munford, William; as clerk of Va. Literary Fund search
- Randolph, Thomas Mann (1768–1828) (TJ’s son-in-law; Martha Jefferson Randolph’s husband); as Literary Fund president search
- Virginia, University of; Board of Visitors; and loans for University of Virginia search