Thomas Jefferson Papers

Thomas Jefferson to Patrick Gibson, 23 June 1817

To Patrick Gibson

Monticello June 23. 17.

Dear Sir

Anxious to be on a sure footing as to provision for my additional note at the bank of Virginia, in the event of it’s not being within th[e] rule to renew it, I wrote to mr Nicholas President of the National branch bank of Richmond to know if I could be accomodated there with 2000.D. to be renewed for some months. his answer recieved yesterday is in thes[e] words. ‘we are restrained by the regulations of the mother bank from discoun[t]ing accommodation paper; but our power to discount the same sum, or a larger amount for the same parties, is unlimited but by our discretion. I hav[e] no doubt the Directors of this bank1 will discount your paper from time to time, as you may wish to have it done.’ I am in hopes therefore there will be no danger of failing to pay it up at the Virginia bank when due if their rule forbids it’s renewal; and for this purpose, not knowing the form of the Note at the National bank, I inclose a blank, signed, to be filled up according to their form. at the same time I send another to be used at the Virginia bank, if the additional note can be renewed there, as I prefer a steady connection to a desultory one.   I hope all my flour is sold for whatever price it would bring. on general grounds I think April the best month for selling, but never to pass over May, because of the competition of the new crop. accidental circumstances may however sometimes controul the general course. I am the more anxious that a sale should have been made on account of the draught in favor of our Collector mr Southall, which in my letter of May 24. I informed you would b[e] upwards of 600.D. but which subsequent furnitures of money for calls here will make upwards of 900.D. this is exclusive of the 250.D. for which I drew in his favor early in April, and which I do not know if he has yet presented. being to make his deposit in Richmond about the 10th of July he will call on you about that time. I set out for Bedford in 2. or 3. days to be absent 3. weeks. I salute you with great esteem & respec[t]

Th: Jefferson

PoC (MHi); on verso of reused address cover; edge trimmed; at foot of text: “Mr Gibson”; endorsed by TJ. Enclosures not found.

1Wilson Cary Nicholas to TJ, 16 June 1817: “of the U.S. Bank.”

Index Entries

  • Bank of the United States, Second; TJ’s loan from search
  • Bank of Virginia (Richmond); TJ’s loan from search
  • flour; sale of search
  • Gibson, Patrick; and TJ’s flour search
  • Gibson, Patrick; and TJ’s loan from Bank of Virginia search
  • Gibson, Patrick; and TJ’s loan from Second Bank of the United States search
  • Gibson, Patrick; letters to search
  • Gibson, Patrick; payments made for TJ search
  • Jefferson, Thomas; Business & Financial Affairs; debt to V. W. Southall search
  • Jefferson, Thomas; Business & Financial Affairs; loan from Bank of Virginia search
  • Jefferson, Thomas; Business & Financial Affairs; loan from Second Bank of the United States search
  • Nicholas, Wilson Cary (1761–1820); and Second Bank of the United States search
  • Poplar Forest (TJ’s Bedford Co. estate); TJ plans visits to search
  • Southall, Valentine Wood; TJ’s debt to search