Thomas Jefferson Papers

Thomas Jefferson to Joseph C. Cabell, 30 September 1814

To Joseph C. Cabell

Monticello Sep. 30. 14.

Dear Sir

In my letter of the 23d an important fact escaped me which, lest it should not occur to you, I will mention. the monies arising from the sales of the glebe lands in the several counties, have generally I believe, and under the sanction of the legislature, been deposited in some of the banks. so also the funds of the literary society. these debts, altho’ parcelled among the counties, yet the counties constitute the state, & their representatives the legislature, united into one whole. it is right then that owing 300,000 D. to the banks, they should stay so much of that sum in their own hands as will secure what the banks owe to their constituents as divided into counties. perhaps the loss of these funds would be the most lasting of the evils proceeding from the insolvency of the banks. ever your’s with great esteem & respect.

Th: Jefferson

RC (ViU: TJP); addressed: “Joseph C. Cabell esq. of the Senate of Virginia now at Richmond”; franked; postmarked Milton, 2 Oct.; endorsed by Cabell. PoC (DLC).

TJ’s interest at this time in the security of the funds resulting from the sales of the glebe lands, property appropriated to public use after the disestablishment of the Anglican Church in Virginia, presumably grew out of his service on a committee of the trustees of the Albemarle Academy that hoped to obtain Albemarle County’s share of this money for that institution (Minutes of the Albemarle Academy Board of Trustees, 3 May 1814).

Index Entries

  • Albemarle Academy; and sale of glebe lands search
  • banks; distressed situation of search
  • banks; in Va. search
  • banks; TJ on search
  • Cabell, Joseph Carrington; and Albemarle Academy search
  • Cabell, Joseph Carrington; and TJ’s ideas on finance search
  • Cabell, Joseph Carrington; as Va. state senator search
  • Cabell, Joseph Carrington; letters to search
  • Jefferson, Thomas; Opinions on; banks search
  • Jefferson, Thomas; Opinions on; government finance search
  • Jefferson, Thomas; Public Service; as Albemarle Academy trustee search
  • political economy; TJ’s letters on finance search