George Washington Papers

[Diary entry: 23 October 1769]

23. Went to Poseys Sale. Returnd at Night with Colo. Mason Mr. Ross, Mr. Sebastian Mr. Harrison Mr. Magowan & Colo. Masons Son George.

According to the court’s order for the sale, GW was to be the first creditor paid out of the proceeds, with the residue going to the merchants who had brought suit to force the sale. However, GW was not to receive everything that Posey owed him, because the court’s order covered only three main portions of the debt: the loans for which GW had mortgages, £820 Virginia currency plus interest of £153 11s. 7d. Virginia; Posey’s bond to George Mason for which GW as his security was responsible, £200 sterling plus interest of £20 12s. 7d. sterling; and GW’s cost in the merchants’ suit, £1 17s. Virginia for lawyers’ fees. In a new statement of Posey’s account, GW wrote off about £70 Virginia in miscellaneous debts and charged him only with the items in the court’s order. That balance was completely discharged during the three days of the sale. GW took £571 16s. Virginia in “sundries” that he bought at the sale for himself, £140 13s. 10d. Virginia in cash, and the remainder in bonds and credits from various gentlemen. GW’s “sundries” included the 200 acres of land that Posey had purchased from Charles Washington in 1759, but the strip of land on which Posey’s house and ferry were located was not sold to anyone because of John West, Jr.’s suit (Fairfax County Order Book for 1768–70, 243–45, Vi Microfilm; General Ledger A description begins General Ledger A, 1750–1772. Library of Congress, George Washington Papers, Series 5, Financial Papers. description ends , folio 256).

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