Letterbook 2

  • Source Note
  • Historical Introduction
Page 232
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Letter to Horace Hotchkiss • 13 May 1842
Copy of a Letter to
May 13th. 1842
Esq
Dr. Sir I proceed without delay to give a hasty reply to yours of the 12th. ultimo just received. My engagements will not admit of a lengthy detail of events & circumstances which have transpired to bring about that state of things which now exists in this place, as before you receive this you will probably be apprized of the failure of myself and brethren to execute our designs in paying off our contracts, or in other words that we have been compelled to pay our debts by the most popular method (IE) by petitioning for the privileges of General Bankruptcy, a principle so popular at the present moment throughout the Union.—
A pressure of business has been sufficient excuse for not giving you earlier notice, although it could been of no real importance <use> to you yet I wish you to understand our intentions to you and your company, & why we have taken the course we have. You are aware Sir, in some measure of the embarassments under which we have labored through the influence of Mobs and designing men, & the disadvantageous circumstance, under which we have been compelled to contract debts in order to our existance both as Individuals & as a society & it is on account of this as well as a pressure on us for debts absolutely unjust, in themselves, that we have been compelled to resort to the course we have to make a general settlement & this we deferred till the last moment, hoping that something would turn in our favor, so that we might be saved the painful necessity of resorting to such measures to accomplish which, Justice demanded a very different course, from those who are justly our debtors but demanded in vain. We have been compelled to the course we have pursued & you are aware Sir, that all have to face alike in such cases. But Sir, you have one, yea two things to comfort you. Our faith in intention & good feeling remain the same to all our creditors, & to none more than yourself. & 2nd.ly. There is property sufficient in the inventory to pay every debt and some to spare, according to the testimony of our solicitor & the good judgement of others, & if the court will allow us some one for assignee who will do justice to the cause we confidently believe that yourself and all others will get their compensation in full & we have enough left, for one loaf more for each of our families, Yes and I have no doubt that you will yet & in a short time be enabled to have your pay in full in the way I have before proposed or some other equally advantageous; his money is out of sight, it might as well be out of mind for it cannot be had. Rest assured Dr Sir, that no influence or exertion I can yet render [p. 232]
Letter to Horace Hotchkiss • 13 May 1842
Copy of a Letter to
May 13th. 1842
Esq
Dr. Sir I proceed without delay to give a hasty reply to yours of the 12th. ultimo just received. My engagements will not admit of a lengthy detail of events & circumstances which have transpired to bring about that state of things which now exists in this place, as before you receive this you will probably be apprized of the failure of myself and brethren to execute our designs in paying off our contracts, or in other words that we have been compelled to pay our debts by the most popular method (IE) by petitioning for the privileges of General Bankruptcy, a principle so popular at the present moment throughout the Union.—
A pressure of business has been sufficient excuse for not giving you earlier notice, although it could been of no real use to you yet I wish you to understand our intentions to you and your company, & why we have taken the course we have. You are aware Sir, in some measure of the embarassments under which we have labored through the influence of Mobs and designing men, & the disadvantageous circumstance, under which we have been compelled to contract debts in order to our existance both as Individuals & as a society & it is on account of this as well as a pressure on us for debts absolutely unjust, in themselves, that we have been compelled to resort to the course we have to make a general settlement & this we deferred till the last moment, hoping that something would turn in our favor, so that we might be saved the painful necessity of resorting to such measures to accomplish which, Justice demanded a very different course, from those who are justly our debtors but demanded in vain. We have been compelled to the course we have pursued & you are aware Sir, that all have to face alike in such cases. But Sir, you have one, yea two things to comfort you. Our faith in intention & good feeling remain the same to all our creditors, & to none more than yourself. & 2nd.ly. There is property sufficient in the inventory to pay every debt and some to spare, according to the testimony of our solicitor & the good judgement of others, & if the court will allow us some one for assignee who will do justice to the cause we confidently believe that yourself and all others will get their compensation in full & we have enough left, for one loaf more for each of our families, Yes and I have no doubt that you will yet & in a short time be enabled to have your pay in full in the way I have before proposed or some other equally advantageous; his money is out of sight, it might as well be out of mind for it cannot be had. Rest assured Dr Sir, that no influence or exertion I can yet render [p. 232]
Page 232