Dear Sir New York 8^th July 1791 I received your Letter of the 1^st at Princeton & on the 2^d informed you in answer, that as the attention of many was turned to the purchase of lands in your State, & as / where they would cost about 70 p^r Cent above the Sum You mention'd first, I was disposed to relinquish the Object, & accordingly desired You to invest the 400 in the same Manner as was proposed for the 3,470 Dollars, & to make Sale of the Virginia Warrants unless M^r [undecipherable: probable reading Caldwell] would conduct the business on [undecipherable] some Terms as he did yours — I desired You nevertheless, to invest yet 400 in the Securities realisable at your land Office, if they can be procured at one tenth of the nominal Sum; & to send the other Securities which may be purchased with the 3,470 Dollars, by every post; to [undecipherable]; & likewise to inform me what part of those two Sums remained on hand at [undecipherable] end of three Weeks after that date, & to hold it. Readiness to answer my Drafts. I perceive that Securities here are much the same as at Philadelphia, except Loan Office Certificates which are 6/8 in the pound — I propose to leave this City to Morrow & remain dear Sir your assured [undecipherable] [undecipherable: closing and signature] Col^o Hodgdon [Received stamp on verso]