TO LEROY AND BAYARD - 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.
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TO LEROY AND BAYARD
j. mss.
Monticello, July 5. 22
Messrs. Leroy and Bayard,
—Your favor of June 26. is just now received. After the delays of my last bond with which I have been indulged I consider it my bounden duty to obey the call for the principal whenever required. This delay was at first made convenient by the great revolution which took place in our circulating medium some time past; and the continuance of low markets since that period has not yet relieved the scarcity of medium so far as that fixed property can command even the half of what is it’s value in regular times. My own annual income arises from the culture of tobacco and wheat. These articles, from the interior country cannot be got to market till the spring of the year ensuing their growth, and at that season alone the cultivator can pay from his produce. Still if the earlier term of 6. months be necessary for the affairs of the heirs of Mr. Van Staphorst, it shall be complied with by a sale of fixed property, altho’ it will double the debt. If on the other hand, consistently with their convenience, the indulgence can be continued until the ensuing spring, (say till May) it can then be paid without loss, and shall certainly be paid. This however is left to your kind consideration, and your final determination shall be my law, at any loss whatever. With the just acknolegement of the past indulgencies, accept the assurance of my great esteem and respect.
Monticello, July 8, 23
Messrs. Leroy and Bayard,
—You have reason to believe I am unmindful that I ought ere this to have remitted you the amount of my last bond; but it is duly in mind altho’ delayed. My resources for payment as stated to you on former occasions, are the produce of my farms. They have usually got to Richmond in June: but are tardier this year than ever. Calculating the passage of my tobacco down the river and time for inspection and sale, I shall be able to remit you one half the amount by the end of this month, and the other half soon after. I have thought it a duty to remove suspense on the subject. Always acknoleging the kindness of your indulgence I salute you ever with friendship and respect.
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