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Subject Area: Political Theory
Topic: The American Revolution and Constitution

TO THOMAS APPLETON - Thomas Jefferson, The Works, vol. 12 (Correspondence and Papers 1816-1826) [1905]

Edition used:

The Works of Thomas Jefferson, Federal Edition (New York and London, G.P. Putnam’s Sons, 1904-5). Vol. 12.

Part of: The Works of Thomas Jefferson, 12 vols.

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TO THOMAS APPLETON

j. mss.

Monticello, July 18, 16

Dear Sir,

—Your letter of Mar. 20. & Apr. 15. are both received. The former only a week ago. They brought me the first information of the death of my antient friend Mazzei, which I learn with sincere regret. He had some peculiarities, & who of us has not? But he was of solid worth; honest, able, zealous in sound principles Moral & political, constant in friendship, and punctual in all his undertakings. He was greatly esteemed in this country, and some one has inserted in our papers an account of his death, with a handsome and just eulogy of him, and a proposition to publish his life in one 8-vo. volume. I have no doubt but that what he has written of himself during the portion of the revolutionary period he passed with us, would furnish some good material for our history of which there is already a wonderful scarcity. But where this undertaker of his history is to get his materials, I know not, nor who he is.

I have received Mr. Carmigniani’s letter requesting the remittance of his money in my hands. How and when this can be done I have written him in the inclosed letter, which I leave open for your perusal; after which be so good as to stick a wafer in it, & have it delivered. I had just begun a letter to Mazzei, excusing to him the non-remittance the present year, as requested thro’ you by his family. And I should have stated to him with good faith, that the war-taxes of the last year, almost equal to the amount of our whole income, and a season among the most unfavorable to agriculture ever known made it a year of war as to it’s pressure, & obliged me to postpone the commencement of the annual remittances until the ensuing spring. The receipt of your letter, and of Mr. Carmigniani’s only rendered it necessary to change the address of mine. The sale was made during the war, when the remittance of the price was impossible: nor was there here any depot for it at that time which would have been safe, profitable, and ready to repay the principal on demand. I retained it therefore myself to avoid the risk of the banks, to yield the profit the treasury could have given, and to admit a command of the principal at a shorter term. It was of course, therefore that I must invest it in some way to countervail the interest, and being but a farmer receiving rents and profits but once a year, it will take time to restore it to the form of money again, which I explained to Mr. Mazzei in the letter I wrote to him at the time. Exchange is much against us at present, owing to the immense importations made immediately after peace, and to the redundancy of our paper medium. The legislatures have generally required the banks to call in this redundancy. They are accordingly curtailing discounts, & collecting their debts, so that by the spring, when the first remittance will be made, our medium will be greatly reduced, and it’s value increased proportionably. The crop of this year too, when exported will so far lessen the foreign debt & the demand for bills of exchange. These circumstances taken together promise a good reduction in the rate of exchange, which you can more fully explain in conversation to Mr. Carmigniani.

I am happy to inform you that the administrator of Mr. Bellini has at length settled his account, and deposited the balance 635. Dollars 48 cents in the bank of Virginia, at Richmond. I think it the safest bank in the U. S. and it has been for some time so prudently preparing itself for cash payments, as to inspire a good degree of confidence, & moreover I shall keep my eye on it, but the money while there bears no interest; and I did not chuse to take it myself on interest reimbursable on demand. It would be well then that Mr. Fancelli should withdraw it as soon as he can; his draught on me shall be answered at sight to the holder, by one on the bank. In the present state of our exchange, & the really critical standing of our merchants at this time, I have been afraid to undertake it’s remittance, because it could only be done by a bill of some merchant here on his correspondent in England, and both places are at this time a little suspicious. I know nothing so deplorable as the present condition of the inhabitants of Europe and do not wonder therefore at their desire to come to this country. Laborers in any of the arts would find abundant employ in this state at 100. D. a year & their board and lodging. And indeed if a sober good humored man understanding the vineyard & kitchen garden would come to me on those terms, bound to serve 4. years, I would advance his passage on his arrival, setting it off against his subsequent wages. But he must come to the port of Norfolk or Richmond, & no where else. If such a one should occur to you, you would oblige me by sending him. I remark the temporary difficulty you mention of obtaining good Montepulciano, and prefer waiting for that, when to be had, to a quicker supply of any other kind which might not so certainly suit our taste. It might not be amiss perhaps to substitute a bottle or two as samples of any other wines which would bear the voyage, and be of a quality and price to recommend them. You know we like dry wines, or at any rate not more than sillery. I salute you with constant friendship and respect.1

[1 ]On the subject of this business matter, Jefferson further wrote to Giovanni Carmigniani:

Monticello in Virginia, July 18, 1816

Sir,



—Within these few days I have received your favor of April 7, with certificates of the death of my estimable friend Philip Mazzei, and a copy of his Will. I learn this event with great affliction, altho’ his advanced age had given reason to apprehend it. An intimacy of 40. years had proved to me his great worth, and a friendship which had begun in personal acquaintance, was maintained after separation, without abatement by a constant interchange of letters. His esteem too in this country was very general; his early & zealous cooperation in the establishment of our independance having acquired for him here a great degree of favor.



Having left under my care the property which he had not been able to dispose of and to carry with him to Europe, it is some years since I had been able to settle all his affairs here, and to have the whole proceeds remitted to him, except for his house and lot in Richmond. This being in the possession of another, a course of law became necessary to recover it, and after the recovery, it was sometime before it could be disposed of at a reasonable price. Very favourable circumstances however occurring at length, I was enabled to get for it a sum very far beyond what had ever been expected or asked. This was in the time of our late war with England while a close blockade of our harbors cut off all commercial intercourse with Europe, and rendered a remittance of the price impossible. The question then arose what could be done with the money? Our banks, which had been heretofore considered as safe depositories of money, had excited alarm as to their solvability by the profuse emission of their notes; and in fact they declared, soon after, their inability to pay their notes, in which condition they still continue; and could they have been trusted with the money, no interest would have been allowed by them. It might have been lent to the government, who would have paid an interest; but then the principal could not have been demanded under 15. or 20 years, the terms of their loans. I concluded therefore to retain it myself, at our legal interest of 6. per cent per annum as the only means of avoiding the risk of the banks, of yielding the profit which the treasury offered, with the command of the principal at a shorter period. But to indemnify myself for the interest I should have to pay, it was necessary I should invest it in some profitable course; and to restore it again to the form of money, would require some time after the close of the war. I explained this in a letter to Mr. Mazzei, and then supposed it might be done at two or three annual instalments, counting from the close of the war. Altho’ the cessation of hostilities took place in spring of the last year, yet the war contributions continued thro the year, aggravated by the most calamitous season for agriculture almost ever known. Our term of peace then really began with the present year. I was about informing Mr. Mazzei that, counting from that period, the principal and interest should be remitted him in three annual instalments, when I received the information of his death. I had been led to propose to him this delay the less unwillingly, as I had received from his family, thro’ Mr. Appleton, a request not to remit the principal, which they feared he would dispose of to loss.



I have thought this much necessary, Sir, to explain to you the present state of this fund, and the reasons why it cannot be remitted but by successive instalments. A third with it’s interest shall be paid the ensuing spring, and the remainder in equal portions the two springs following that. The channel of remittance must depend on the circumstances of the time. The exchange with London at present is much against us. But the calls of the banks on their debtors, now rapidly going on, by reducing the redundance, of our medium, and the produce of agriculture this year, which as an article of remittance, will lessen the demand, & consequently the price of bills of exchange, will probably produce, by the next spring, a more favorable state of exchange for the first remittance. In the meantime I shall receive & execute with pleasure & punctuality any instructions you may think proper to give me as to the channel and mode of remittance: and, receiving none, I will certainly do the best I can for the benefit of Mr. Mazzei’s family, to whom I will render every service in my power with the same zeal I would have done for my deceased friend, of which I pray you to give them assurance with the homage of my great respect, and to accept yourself the tender of my high consideration.

A year later, Jefferson wrote to Appleton as follows:

Monticello, Aug. 1. 17

Dear Sir,



—My last to you was of July 18. 16. since which I have received yours of May 15. and 30. July 30. Sep. 27 & Oct. 20. of the same year, & Mar. 5. of the present, with the seed of the Lupinella. This came to hand too late to be sown this season, and is therefore reserved for the ensuing spring. Mr. Madison received what you sent him somewhat earlier, & sowed a little (not chusing to venture the whole). I am recently returned from a visit to him and saw the plants just come up. From their appearance we judged them to be a species of Saintfoin. The next year however I shall sow the whole of mine, and be able to judge of it.



In my letter to you of July 18. and one of the same date to Mr. Carmigniani, on the subject of Mr. Mazzei’s funds I explained the situation of this country, which, after being shut up from all means of disposing of its produce during a war of 3. years, had experienced seasons the most adverse to agriculture which had ever been known. At that moment also appearances were unfavorable for the year then current; but in the hope it might change for the better, I ventured to promise myself and Mr. Carmigniani that a commencement of remittance of principal and interest should be made in the present year. But the drought which was prevailing at the date of my letter, continued thro the whole season of the growth of our crops, and produced a failure in them much greater than in the preceding year; insomuch that there has been the greatest distress for bread, which has sold generally at 5. times its usual price. Few farmers have made enough of other things to pay for their bread; and the present year has been equally afflicting for their crop of wheat, by such an inundation of Hessian fly as was never seen before. A great part of my own crop has not yielded seed. Whole fields did not give an ear for every square foot; & many turned their cattle on their wheat to make something of it as pasture. After such a disaster the last year, and so gloomy a prospect for the present, following the distresses of the war, our farmers are scarcely able to meet the indispensable expences of taxes, culture & food for their families and labourers. Under such difficulties & prospects, I have not only been unable to make the remittance I had promised to Mr. Carmigniani, of the first portion of principal and interest, but am really afraid to promise it for the next, such are the prospects of the present season; and unwilling by renewed and precise engagements to hazard renewed breaches of them I am constrained to sollicit the consent of the family to let the money lie awhile in my hands, and to receive remittances of it in portions as I can make them. They may be assured they shall be made as soon and as fast as would be in my power, were I to engage for specific sums and dates. The interest I solemnly engage to send them annually, and about this season of the year. I am in hopes that the punctual receipt of the interest from hence will be the same to them, as if received from a depository there, while it will be a kind accommodation to me; and I hope it the more as this is really money which I recovered out of the fire for them, by lawsuits & persevering efforts, & which I am certain Mr. Mazzei, no more than myself had never hoped to obtain. With respect to the ultimate safety of the principal in my hands, any person from this state can satisfy them that my landed property alone is of more than fifty times the amount of this sum. Flattering myself then that under these circumstances, and where the difference to them is only whether they shall receive their interest from A. or from B. I shall be indulged with this accommodation, I have remitted to my friend John Vaughan of Philadelphia 400. Dollars to be invested in a good bill payable to yourself, with a request to you that you will pay to whoever of the family is entitled to receive it, a year’s interest, to wit 380. Dollars 52 cents. Altho’ I suggest an indulgence indefinite in it’s particular term, I have no idea of postponing the commencement of my remittances, by thirds, more than a year or two longer. If the seasons should, against the course of nature hitherto observed continue constantly hostile to our agriculture, I will certainly relieve myself at once by a sale of property sufficient to refund this whole debt, a measure very disagreeable while the expectation exists of doing it from the annual profits; and the family will be always free to discontinue the indulgence if the delay should be protracted unreasonably and inconveniently to them. The nett proceeds of the sale of the ground in Richmond was 6342, say six thousand three hundred and forty two Dollars, received July 14. 1813. If the family consents to my proposal, I will, on being so informed, settle up the back interest, add it to the principal, send them a specific obligation and thenceforth remit annually the interest of six per cent. with portions of the principal as fast as I shall be able. I think there remains no other item of account between Mr. Mazzei and myself, except 50. D. paid to the lawyer employed in the recovery & 20. D. to Mr. Derieux by particular request of Mr. Mazzei.



I write all this to you, because you have hitherto been the mutual channel of this business; for altho Mr. Carmigniani wrote me a letter which I answered July 18. as before mentioned, with a full explanation of the state of the debt, the circumstances which had occasioned it’s remaining in my hands, and the remittances proposed, yet the marriage of Miss Mazzei with Mr. Pini has, I supposed determined his agency. I shall be uneasy until I learn that the family is contented with this arrangement, and I will therefore sollicit an early line from you. . . .

Still later, he wrote to Appleton:
Monticello, July 13, 20

Dear Sir,



—My letters to you, within the last 12. months have been of May 28. 19. with the annual remittance to M. & Me. Pini, Sep. 3. informing you of a remittance thro’ Mr. Vaughan of 300. D. for the wives of the two Raggis, and Feb. 15. 20. announcing a remittance of 400. D. for the same persons to pay their passage and expences to the U S. Since the last of these your two of Jan. 15. & 21. have been received. I wonder much that the remittance of the 300. D. had not got to hand at the date of yours of Jan. 21. but that transaction having passed between Mr. Vaughan and our Proctor, I am not able to state the particulars of it’s transmission. I hope however it is long since at hand. As to the 400. D. of Feb. last, Mr. Vaughan in a letter of Mar. 3. says ‘the 400 D. have been received, and I purchased S. Girard’s bill on Jas. Lafite and Co. Paris at 60. days to order of Thos. Appleton for 2135 90/100—equal to 403. D. which I have forwarded to him under cover to Bernard Henry, Gibraltar, by the Newburn, Capt. Cushing via Maderia, & duplicate by the Pleiades Capt. West direct to Gibraltar, under care of a friend. The 3d I shall send via New York. By the Pleiades I sent your letter to Mr. Appleton.’ Since your information as to the post thro’ Spain I much regret that this last remittance has gone by Gibraltar. Altho’ I should have supposed opportunities from that to Leghorn by sea could not have been rare. However I shall caution Mr. Vaughan against it in future, and recommend London & Paris, perhaps also Marseilles where an opportunity to Leghorn direct does not occur.



In mine of Feb. 15. I mentioned that I should make my annual remittance to M. & Me Pini in April or May. I am however to this date before it could be done. The extraordinary embarrassments produced by the sudden withdrawing of one half of our circulating medium has in a great measure suspended money transactions. 9. out of 10. of the banks of the different states have blown up; the adventurers calling themselves merchants, who had been trading on bank credits, have been swept away. Those who stood the ordeal still suspend their business, from caution, till the storm shall be over, so that from want of medium, and the want of purchasers at market, property & produce are fallen one half. We had 18. month ago 6. millions of Dollars in circulation in this state, of paper; we have but 3 millions now. Produce, say flour sold from 8. to 16. D. a barrel. It is now at 4. D. This extraordinary curtailment in the profits of the year has brought on a general distress, unknown before in the annals of our country. Before this explosion in our commerce, I had hoped myself to have been able in good time to remit the principal of my debt to M. & Me Pini, from the annual profits of my estate: but the fall in the price of produce, likely to continue some time yet, has induced me to give up that hope and to determine on the sale of property sufficient for that paiment. This I will certainly do as soon as the present suspension of buying and selling ceases, and bidders at a fair price return into the market. At this time nothing can be sold at half price. These difficulties have made me a little later than I had expected in the remittance of interest this year to M. & Me Pini. I have now placed in Mr. Vaughan’s hands 444 D. with a request to vest it in a bill of Mr. Girard on Paris, (the most solid channel of remittance, and indulged to me as a favor,) and to send it via Paris or London, or both; so that I hope it will have a safe and speedy passage to you. . . .



P. S. June 30. 20. I had written thus far when your favor of May 18. came to hand. The remittance of 300. D. for the Raggis, mentioned in my letter from Poplar Forest, I find on enquiry was not carried into execution. The Proctor informs me that they soon after changed their minds, concluded to send for their wives, which requiring a larger sum, produced delay till the state of their accounts admitted it, this brought on winter and finally the remittance of 400. D. was made only in time for them to sail in spring. On the subject of what I owe to Mr. Mazzei’s representatives. I had already made up my mind to clear it out as soon as possible. Like thousands of others, I had sustained some losses by being security for a friend who failed under the late general bankruptcies. This not admitting the delay of annual crops I had come to the resolution of selling some unprofitable property to pay at once and to make the sale sufficient to discharge the debt to M. & Me Pini. As yet however nothing can be sold. All confidence is suspended, and fear takes it’s place. The grounds for example in Richmd of Mr. Mazzei which sold for 6432 D. could not now be sold for 1500 D. It will probably be another year before the fair prices of things are settled and proportioned to the reduction of circulating medium. I shall certainly take advantage of the first possibilities of disposing of property to disengage myself. It is this same state of commerce which has delayed to this date the remittance of this year’s interest: I salute you with constant & affectionate friendship and respect.