Your letter, enclosing the proposal of the trustees of Mrs. Randolph, for the loan to the University of Virginia; was duly recieved;1 and in obedience to your instructions I immediately communicated the same by letter to the Visitors of the University, from whom I have recieved answers accepting of the loan as proposed, “with the understanding, that the interest upon the certificates shall be paid, semiannually; provided the Literary board, will make the rule invariable, upon which they have hitherto acted of paying the income to the University semiannually,[”] the papers relative to which I now have the honour to enclose you; Mr. T. J Randolph will wait upon the Visitors at the University, on fryday next. Most Respectfully Your most Obt. Servant