James Madison Papers

To James Madison from James Monroe, 6 April 1808

Richmond April 6. 1808

Dear Sir

My expenses abroad having exceeded unavoidable ⟨   ⟩ the compensation allowed me in the station I held & the mismanagement of my estate in my absence, make it an object to me to command on loan the sum of about 10,000 dolrs. I should therefore be happy to receive the accomodation from the bank provided it would be willing to make it, on su⟨ch⟩ terms as I could accept, or indeed comply with.

To enable you to answer this proposal it is necessary to give you a statement of my property, & of the security which I would pledge for the reimbursement of the money. I have in Albermarle 2500. acres of as good land as any in the county & about 30. slaves, with furniture stock &ca. I shod. suppose that my property there was worth three times the amount of the sum desired. I have in Loudon on Little river 100 ac⟨res⟩ of excellent land worth, at least, the sum in question. I have a⟨l⟩so property near this place & to the westward of some value. My object is to place in trust as much of any part of this property, as would be deemed an ample security> for a loan double its amount if necessary, in such mode and ⟨to⟩ such person as would be desired. I should of course ⟨   ⟩ by paying interest & ⟨   ⟩ & having ⟨   ⟩. I should however ⟨   ⟩ the latter ⟨   ⟩ than the indorsem⟨ent⟩ wh was to be ⟨   ⟩

In a just view ⟨   ⟩ with the President ⟨   ⟩tion I must accomplish the objects ⟨   ⟩ have in view in about ⟨three⟩ years & perhaps a ⟨   ⟩. The accomodation would ⟨there⟩fore prove of ⟨   ⟩ great service ⟨   ⟩ that the lands ⟨   ⟩ the present note. Therefore ⟨   ⟩ I will not presume to say.

I shall thank you for information whether this arrangement is practicable. If from ⟨   ⟩ you are at liberty to use this ⟨   ⟩ will otherwise ⟨   ⟩ as to yourself doing ⟨   ⟩ I ⟨   ⟩ carrying it into fact ⟨   ⟩ Sir with great esteem very ⟨   ⟩ sert

Jas Monroe

DLC: Papers of James Monroe.

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