Thomas Jefferson Papers
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Thomas Jefferson to Patrick Gibson, 22 April 1819

To Patrick Gibson

Poplar Forest Apr. 22. 19.

Dear Sir

While here, and at my usual season for settling the affairs of the year, I have taken a view of their present standing between us which I will here state as nearly as I can, setting out on the basis of your account of Feb. 8. when 306. Barrels of flour had been sold & a balance of 724.15 D remained against me.

 D
Apr. 7. the letter of this date states 288 B. recd after Feb. 8. & sold for 1751.
since Apr. 7. there have been sent hence & from Albemarle abt 50.
and there is gone or will immediately go from Shadwell mills 50 
100.  say 600.
the tobo sent hence & a little still to go 13,000. ℔ say 1040 
We are then to set off against this sum of 3391 
 D
the balance of Feb. 8. 724. 15.
 D
Feb. 1. my draught in favor of Leitch 108. 33
24. Ellen W. Randolph 100.
26. duties on wine 133. 44
Mar. 9. my draught in favor of Yancey 58. 65
25  Mayo 25. 37½
Apr. 4. Gray 43. 25
8. Garrett 300.
Leitch 125. 04
11. Bacon 33. 75 1651. 98
which will leave (conjecturally but nearly) a balance in my favr 1739. 02
on this I shall be obliged to make draughts, to wit
for remittances to Europe 800. D.
for country debts about 1350  2150.
which would leave a deficit of about 410. 98
 

this deficit is the effect of the unfortunate fall in the price of produce and at a time so critical for me. the medium price for several yea[rs] past, on nearly 700. Bar. of flour, & on the tobo would have made a difference sufficient not only to cover this balance but to enable me to have redeemed one of my notes in bank. as it is, it is impossible for me to supply the deficit unless one of the banks (besides continuing the 1500.D. note) will add 500.D. to it. I hope they will do it, and in that confidence, I will on my return to Monticello (say 4. or 5. days hence) send you a note for 2000.D. i.e. to cover the former 1500. & the additional 500.D. endorsed by my grandson. in asking this favor of the bank; I shall hope for the friendly influence of Colo Nicholas: and to relieve myself from these painful necessities, I am urging the sale of some detached parcels of land which I have here and in Albemarle. but there is at present an entire stagnation of purchase here,1 occasioned by the crisis of bank engagements which suspends business in Lynchburg and it’s vicinity for the present. it is believed however that the extent of embarrasments is now understood, and this trial having severed the unsound from the sound members of the body, it is presumable that business & confidence will be soon again revived; so that in the course of the year I may hope to recieve reasonable offers for what I propose to sell. of the conjectural balance above stated, the first n[e]cessary2 and urgent call is for the 800.D. to be remitted to Europe. this sum I must therefore pray you at your first possible convenience to place in the hands of mr John Vaughan of Philadelphia on my account. the country demands can await the issue of the note I am to send you. I salute you with constant friendship and respect.

Th: Jefferson

PoC (MHi); on portion of reused address cover containing a seal but otherwise blank; edge trimmed; at foot of first page: “Mr Gibson”; endorsed by TJ.

For the missing account of feb. 8, see note to Gibson to TJ, 18 Feb. 1819. TJ’s draft in favor of Joel yancey was for $55.65, not $58.65. TJ’s grandson was Thomas Jefferson Randolph.

A missing letter from TJ to Yancey of this date is recorded in SJL, which summarizes it thus: “Evans. salt. Gibson’s & Clay’s letters and mr Burwell’s portmanteau.”

1Word interlined.

2Word damaged at seal.

Index Entries

  • Bacon, Edmund; TJ pays search
  • Bank of the United States, Second, Richmond branch of; TJ’s loan from search
  • banks; and Panic of1819 search
  • Burwell, William Armistead; portmanteau of search
  • Clay, Charles; mentioned search
  • Coolidge, Ellen Wayles Randolph (TJ’s granddaughter); TJ gives money to search
  • Evans, Mr. search
  • flour; from Poplar Forest search
  • flour; price of search
  • flour; sale of search
  • food; salt search
  • Garrett, Alexander; and Central College–University of Virginia subscription search
  • Gibson, Patrick; account with TJ search
  • Gibson, Patrick; and payments made for TJ search
  • Gibson, Patrick; and TJ’s flour search
  • Gibson, Patrick; and TJ’s loan from Second Bank of U.S. search
  • Gibson, Patrick; and TJ’s tobacco search
  • Gibson, Patrick; letters to search
  • Gibson, Patrick; mentioned search
  • Gray, William Fairfax; TJ pays search
  • household articles; portmanteaus search
  • Jefferson, Thomas; Business and Financial Affairs; gives money to E. W. Randolph (Coolidge) search
  • Jefferson, Thomas; Business and Financial Affairs; loan from Second Bank of U.S. search
  • Jefferson, Thomas; Business and Financial Affairs; payments to J. Yancey search
  • Jefferson, Thomas; Business and Financial Affairs; pays taxes search
  • Jefferson, Thomas; Business and Financial Affairs; sells flour search
  • Jefferson, Thomas; Business and Financial Affairs; T. J. Randolph endorses notes for search
  • Jefferson, Thomas; Business and Financial Affairs; tries to sell land search
  • Jefferson, Thomas; Opinions on; Panic of1819 search
  • Jefferson, Thomas; Public Service; and Central College–University of Virginia subscription search
  • Leitch, James; TJ pays search
  • Mayo, Frederick August; TJ pays search
  • Monticello (TJ’s Albemarle Co. estate); flour from search
  • Nicholas, Wilson Cary (1761–1820); and TJ’s bank loans search
  • Poplar Forest (TJ’s Bedford Co. estate); flour from search
  • Poplar Forest (TJ’s Bedford Co. estate); TJ returns from search
  • Poplar Forest (TJ’s Bedford Co. estate); tobacco grown at search
  • portmanteaus search
  • Randolph, Thomas Jefferson (TJ’s grandson; Jane Hollins Nicholas Randolph’s husband); endorses bank notes search
  • salt; mentioned search
  • Shadwell mills; flour from search
  • subscriptions, nonpublication; for Central College–University of Virginia search
  • taxes; customs search
  • taxes; on wine search
  • tobacco; grown at Poplar Forest search
  • tobacco; price of search
  • United States; Panic of1819 search
  • Vaughan, John (1756–1841); and payments made for TJ search
  • Virginia, University of; Administration and Financial Affairs; funding for search
  • Virginia; and Panic of1819 search
  • Yancey, Joel (d.1833); letters to accounted for search
  • Yancey, Joel (d.1833); TJ pays search