Jany. 1st. Fox huntg. in my own Neck with Mr. Robt. Alexander and Mr. Colvill—catchd nothing. Captn. Posey with us.
Although John Posey joined in the chase today and on other occasions during the next few months, he was now, in GW’s opinion, a man “reduced to the last Shifts,” for he was being destroyed financially by enormous debts that he had acquired over the past several years (GW to Posey, 24 Sept. 1767, DLC:GW). GW was one of Posey’s principal creditors, holding mortgages on his lands and slaves for a total of £820 Virginia currency conveyed since 1763. With interest accumulating at the rate of £41 a year and miscellaneous charges against him, Posey now owed GW nearly £1,000 (ledger a description begins Manuscript Ledger Book 1, 1750-72, in George Washington Papers, Library of Congress. description ends , 168, 256). But Posey was strongly opposed to selling his property to clear his books and had begged GW several times to lend him more money in order to avoid that end. GW had agreed not to press Posey for repayment of his previous loans and was willing to act as his security for a £200 sterling loan from George Mason, but he refused to advance Posey any more cash (GW to Posey, 24 June and 24 Sept. 1767, DLC:GW).