Summary of Accounts with Virginia
FC (LC: Madison Papers). In JM’s hand.
[28 May 1783]
|Balance due as per lettr. from Tresr. Der. 31. 1782||£865—8—31|
|Accruing from Der. 31. to May 28. 140 days at 8 drs. 1120 Drs eql. to|
|Rece[i]pts since Dr. 31. £50 £100.3 May 6th £1254 £200|
|Balance due May 28||£726—8—3|
|J. F. M.||2216||2420 Dollrs.|
1. Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (7 vols. to date; Chicago, 1962——). description ends , VI, 375. For an itemization of the amount owed to JM at the close of 1782, see ibid., VI, 211, n. 3.
2. Dollars in Virginia currency were equated in pounds by dividing the dollars by 3.333. JM recorded the result in round numbers, omitting approximately 8d. From 1 January to 28 May, inclusive, there were 148 days, but he claimed pay for only 140. By accompanying the family of William Floyd from Philadelphia to New Brunswick, N.J., JM had been absent from Congress for four days (ibid., VI, 498, n. 2). For reasons unknown, he and the other Virginia delegates apparently had not attended Congress on 3 January. JM seems also to have been absent on 12 May 1783 (JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 35–36, 339). The incompleteness of the journals of Congress is such that the other two days of his nonattendance cannot be established.
3. For the £50 and £100, see Statement of Receipts, 28 May 1783. Instead of £50, JM’s account with Virginia, 1783, shows £50 18s. 11d. (Settlement of Accounts, 31 Dec. 1783). In that account, he probably added the discount he had been obliged to accept when he cashed the bill of exchange. See Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (7 vols. to date; Chicago, 1962——). description ends , VI, 405.
4. Ibid., VI, 473; 474, n. 1. On 6 May 1783 JM acknowledged receipt from Theodorick Bland of $332 15/90 ($332.17). Although at 3⅓ for 1 he should have received $333.33, the difference of $1.17 was his share of the discount totaling $5.85 paid on the bill of exchange for £500 ($1,666.67) by the five Virginia delegates (JM to Bland, 6 May 1783, and hdn., n. 1). JM in his account with Virginia, 1783, correctly entered £100 rather than £125.
5. Although in this summary for his own files, JM may have intended to record all “Rece[i]pts” between 1 January and 28 May 1783, his total of £475 contrasts sharply with the corresponding figure of £947 18s. in his Statement of Receipts, 28 May 1783 (q.v.). The probable explanation of the difference of £472 18s. is as follows. The entry of £125 should have been £100 (n. 4). The entry of £200 covered only his portion of one of the two bills of exchange, each for £500, on Lacaze and Mallet (Delegates to Auditors, 28 May 1783). JM’s total share of those bills of exchange was £697 18s. (Statement of Receipts, 28 May 1783). Therefore, by changing in the present item the £125 to £100, and the £200 to £697 18s., the total of his receipts becomes a correct £947 18s. See Ambler to JM, 17 May 1783, and n. 4.
6. “T. B.” and “J. F. M.” are Theodorick Bland, Jr., and John Francis Mercer, respectively. The figure opposite the name of each is the amount owed to him in dollars.
7. JM disregarded the 8s. 3d.