Securing of debt and land transactions
Document 1784Discusses the securing of debt and land transactions involving the "Virginia lands," probably in the Ohio territory.
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[Endorsement, left margin: Elbridge Gerry Esq / June 13th 1784]
[Stamp: Received from Nov 24 1894 No 3 401810.]
[Endorsement, right margin: Capt. Washington [undecipherable] / 505]
Arch. Pickering & Hopper At Philadelphia 13th June 1784 1
Gentlemen
[undecipherable] the affairs hereafter mentioned, You will oblige [me] [undecipherable] the following [undecipherable]
1st If Mr. Willing consents to pay the Principal & Interest of the Debts, without Litigation or Arbitration, I am willing to receive the Interest at [le] 6 [per Cent]. Otherwise Jones to demand the Legal Interest of Barbados; on Case of commencing a Suit, I shall not be disposed to refer it. Until on the Opinion of the Counsel on our Part, the Liberality of a Jury is not preferable to that of a Reference.
2dly I propose to take 12,000 Acres of the Virginia Land at a Guinea & Thousand, if the Matter can be conducted by the Person whom You employed to locate your lands in Virginia, or by any other Person of Reputation who will give Security — also two fifths of the [s]ix Thousand Acres in Conjunction with your [claim] in the State — The Cost of both purchases You may draw for on Thomas [undecipherable] of Boston who will honor your Drafts to the Amount of £four hundred Pound Penna Currency or any past Bond —
3dly I wish to be informed from time to time of the Rates at which continental funded Certificates, issued to Officers of the Army of the U. States are sold; & shall write from Massachusetts the Sum which I propose to have invested in those Certificates —
4thly I shall be glad to have the Interest collected on the continental loan Certificates lodged into your Hands, consisting of the following Date & Denomination
2500 Dollars dated 10th Dec 1776 [Interest due from 10th Dec 1781]
1200 ——— 19 Sep 1777 do from 19 Sep [17]79
306 — 23 Feb 1778 do from 23 [Feb] 1782
20,000 ——— 1 Aug 1779 do from [1 Aug]
equal to 1226⅔ in specie 1780
I remain Gent your Friend
& humble Servt
E Gerry
Type
Autograph Letter Signed
Description
Discusses the securing of debt and land transactions involving the "Virginia lands," probably in the Ohio territory.
Date
06/15/1784
Author
Recipient
Sent from
Philadelphia
Document number
1784061580001
Page start
1
Note
Recipient is "W. King"?
Notable persons
Elbridge Gerry
W. King
officers
Army
Notable locations
Philadelphia
Virginia
Pennsylvania
Massachusetts
United States
Notable items
pay
debt
interest
litigation
arbitration
council
jury
acres
guinea
lands
reputation
security
cost
purchases
drafts
amount
pounds
currency
continentals
certificates
sum
dollars

