Thomas Jefferson’s General View of the Finances of the University of Virginia, 6 April 1823

General View of the Finances of the University of Virginia

Apr. 6. 1823. a general view of the finances of the University

mr Brockenbrough estimated the debts at 20M.D. at the date of the last report, mr Dawson at 27,000. call them then		27,000
the resources to pay that are as follows.
the arrears of subscription were then 18,343. D our Collector has called on almost every man, obtained his assumpsit verbal or written to pay out of his crop this season. he says we shall lose between 4. & 5000.D. by bankruptcies & removals but that we may count on about	14,000.
this year’s annuity has been recd & pd towards the debts	7,800

the annuity of the next year payable Jan. 1. will be	*4,200	26,000.
It may be hoped that the legislature remitting the principal of the debt, will not exact the interest of the present year, which would furnish the 1000.D. deficit and leave us 10,000 D. in hand; if they do not, this deficit will cut in on the late loan and leave that only 59,000.
with this sum clear we enter on the Rotunda.

But one half of the debts (13,500 D) must be paid immediately the other half the 1st day of Jan. next, and as the 14,000.D. are not in hand, we must borrow it from the new loan to be replaced. for this purpose we must call immedly for	14,000
we shall need for lumber & other advances for the Rotunda about	16,000
consequently we must call now for	30,000
we shall have occasion by the 1st of Jan. next for about	15,000
and the 1st of Jan. 1825. for the balance	15,000
	60,000

this will save us of interest	18,001	D.	this year and
	9,00.		the next
	2,700

MS (ViU: TJP-PP); in TJ’s hand; inconsistently endorsed by TJ: “State of the Finances. Oct. 1823.”

our collector: John L. Thomas.

1. Reworked from “18,000,” with number below altered from “9,000.”

Authorial notes

[The following note(s) appeared in the margins or otherwise outside the text flow in the original source, and have been moved here for purposes of the digital edition.]

* *this shd have been 6300

Index Entries

Brockenbrough, Arthur Spicer; as University of Virginia proctor search
Central College; subscription for search
Dawson, Martin; as accountant for University of Virginia search
Jefferson, Thomas; Writings; General View of the Finances of the University of Virginia search
Literary Fund; and annuity for University of Virginia search
Thomas, John L.; as collector for University of Virginia search
Virginia, University of; Administration and Financial Affairs; accounts of search
Virginia, University of; Administration and Financial Affairs; funding for search
Virginia, University of; Administration and Financial Affairs; TJ’s General View of the Finances of the University of Virginia search
Virginia, University of; Construction and Grounds; building materials for search
Virginia, University of; Construction and Grounds; Rotunda (library) search
Virginia; General Assembly search

You Are Looking At

Source Project: Jefferson Papers
Title: Thomas Jefferson’s General View of the Finances of the University of Virginia, 6 April 1823
Author: Jefferson, Thomas
Date: 6 April 1823

Reference

Cite as: “Thomas Jefferson’s General View of the Finances of the University of Virginia, 6 April 1823,” Founders Online, National Archives, https://founders.archives.gov/documents/Jefferson/03-19-02-0391. [Original source: The Papers of Thomas Jefferson, Retirement Series, vol. 19, 16 September 1822 to 30 June 1823, ed. J. Jefferson Looney et al. Princeton: Princeton University Press, 2022, pp. 512–513.]