Thomas Jefferson: State of the Finances of the University of Virginia, 6 Apr. 1823, 6 April 1823
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 10,000D. 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 | 18,000D. | this year and |
| 9,000. | the next | |
| 2,700 |
ViU: Thomas Jefferson Papers (Proctor’s Papers).