James Madison Papers

James Madison to Bernard Peyton, 10 May 1828

May 10. 1828

Dr Sir

I have recd. yours of the 5th. and thank you for your kind interposition with the Bank in my behalf. It is much my wish to discharge my engagements to it: and assurances & prospects from my debtors have kept me in hopes of being able to do so. Thus far however, they have not been fulfilled; and unfortunately, bad managements added to bad seasons, have deprived my crops of the expected results. Previous to the rect. of your letter, I had it in view to effect a reduction of the debt being encouraged by emphatic promises, recently recd from different quarters; and counting on the surplus proceeds of my Tobo. now going to Market, after a deduction for indispensable wants. In the former prospects, I dare not, after past disappointments put the confidence I could wish; and the extent of the latter resource remains to be ascertained. I feel however the necessity of the case and shall be glad to have by a line from you the amount of the curtailments contemplated.

Draft (owned by Mr. and Mrs. George B. Cutts, Brookline, Mass., 1984).

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