Thomas Jefferson to John Neilson, 31 May 1820
To John Neilson
Monticello. May 31. 20.
[D]ear Sir
I inclose you my note for the money due you, settled as you desired. my reason for allowing compound interest in this case (the only one in which I ever did so) was explained in conver[sa]tion.1 I have taken 2. years for payment, because the fall of produce, likely to be permanent, were I to wait for crops, would too much retard the payment of monies due from me, and which I am anxious to discharge. I salute you always with friendship & best wishes.
Th: Jefferson
PoC (CSmH: JF-BA); on verso of a reused address cover from Joel Yancey (delivered by John Hemmings) to TJ; salutation trimmed and one word faint; at foot of text: “Mr John Neilson”; endorsed by TJ.
On this date TJ recorded giving Neilson a promissory note for $843.50, not found, to cover the principal and interest of a note for $435.75 that he had given him on 16 Apr. 1809 ( , 2:1245, 1365).
1. Omitted period at right margin editorially supplied.
Index Entries
- crops; price of search
- Hemmings, John (TJ’s slave; b. ca.1776); delivers letters search
- interest; TJ on search
- Jefferson, Thomas; Business & Financial Affairs; debt to J. Neilson search
- Jefferson, Thomas; Opinions on; interest search
- Neilson (Nelson), John; letters to search
- Neilson (Nelson), John; TJ’s debt to search