Thomas Jefferson Papers

Thomas Jefferson to Patrick Gibson, 22 May 1820

To Patrick Gibson

Monticello May 22. 20.

Dear Sir

According to the notice in yours of the 16th I now inclose blank notes for renewal in the banks.   It was very unfortunate that the offer for my tobacco at Lynchburg was not accepted the sale at Richmond having yielded (after taking off the water carriage) but 5½ Doll. instead of 8½ at Lynchburg. it seems that the quality of that tobo is more prized there than at Richmond, insomuch that we must not refuse a good offer there in future, with any expectation of a better in Richmond. the price of my flou[r] too falls short of what I had hoped from information that it had risen, and the papers also quoting 4.50 to 4.60 these two curtailments distress me exceedingly, and particularly as to the remittance to mr Vaughan. I must endeavor to collect another hundred dollars of what is due me here, and reduce that remittance to 500.D. instead of 675. D but indeed collection here is all but impossible.

An expression in your letter of Feb. 22 ‘that you could no[t] remain under advances as heretofore’, gave me alarm & uneasiness lest I should have trespassed in that way more than I was awa[re] of, nor could I be satisfied with myself until I reviewed our qua[r]terly1 accounts for some time back. I took therefore those of the las[t]2 half dozen years, to wit from Jan. 1. 1814. to this day inclusive, and note[d] the balances at the end of every quarter, I found that those on your side summed to about 8000.D and on mine to about 6000. D making a difference against me of 2000.D in the 6. years. a view too of the charges of interest paid on your advances, being 147.08 in the 6. years furnishes an[ot]her3 measur[e] of these advances. being anxious that your idea, as well as my own should be accurate on this subject, I copy the result on the next pag[e]4 and will certainly pay attention to it in future. I salute you with sincere friendship and respect.

Th: Jefferson

PoC (DLC); on verso of reused address cover to TJ, with PoC of enclosure on verso; edge trimmed; at foot of text: “Mr Gibson”; endorsed by TJ.

Gibson’s letter of the 16th May 1820, not found, is recorded in SJL as received 20 May 1820 from Richmond. The blank notes for renewal of bank loans enclosed here are also missing. Gibson’s letter of feb. 22 may have been that to TJ of 24 Feb. 1820, not found (see note to TJ to Gibson, 15 Mar. 1820).

1Word faint.

2Word faint.

3Word faint.

4Word faint.

Index Entries

  • Bank of the United States, Second, Richmond branch of; TJ’s loan from search
  • Bank of Virginia (Richmond); TJ’s loan from search
  • boats; carriage to and from Richmond search
  • flour; price of search
  • Gibson, Patrick; account with TJ search
  • Gibson, Patrick; and payments made for TJ 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 U.S. search
  • Gibson, Patrick; and TJ’s tobacco search
  • Gibson, Patrick; letters from accounted for search
  • Gibson, Patrick; letters to search
  • interest; TJ’s calculations of search
  • Jefferson, Thomas; Business & Financial Affairs; loan from Bank of Virginia search
  • Jefferson, Thomas; Business & Financial Affairs; loan from Second Bank of U.S. search
  • Lynchburg, Va.; tobacco prices at search
  • Monticello (TJ’s Albemarle Co. estate); flour from search
  • Poplar Forest (TJ’s Bedford Co. estate); tobacco grown at search
  • Richmond, Va.; boat carriage to and from search
  • Richmond, Va.; TJ’s tobacco sold at search
  • Richmond, Va.; tobacco prices at search
  • tobacco; grown at Poplar Forest search
  • tobacco; price of in Lynchburg search
  • tobacco; price of in Richmond search
  • Vaughan, John; makes payments for TJ search