From James Madison to Chester Bailey, [ca. 20 December 1826]
To Chester Bailey
[ca. 20 December 1826]
I recd. some days ago your friendly communication of the 7th.1 I regret the continuance of circumstances wch. suggested it. I hope you will be satisfied with the footing on which I have put your claim for the arrears due from J.P.T.2 Inconsiderable as the amount may be thought, such have been the failures of my crops & the prices for them for a series of years, & such the utter failures of payments when I am the Creditor, & I may add, such the pecuniary distress & prospects, here at present, that in undertaking unforeseen payts. the time must be left to my own conveniency; which I hope will not materially affect yours
Draft (DLC). Undated; conjectural date assigned based on JM’s promissory note to Bailey, 20 Dec. 1826.
1. Letter not found.
2. See JM’s promissory note to Bailey, 20 Dec. 1826. For John Payne Todd’s debt to Bailey and JM’s assumption of it, see JM to Bailey, 26 Apr., 12 May, and 19 Sept. 1826.