University of Virginia Library

Appendix H
Selected Loan Documents

Joseph Carrington Cabell to Thomas Jefferson

The enclosed bill has this moment passed into a law.[845] The House of Delegates having
first rejected the amendment of the Senate for $80,000; and then that for $40,000--and
having postponed the whole bill on 22d.; Genl. Breckenridge, Mr. Johnson & myself, had a
consultation and agreed that the interests of the Institution would be promoted by the Bill
now enclosed. Our friend Mr. Gordon had already moved for leave to bring in a bill, and
was in the midst of an animated discussion, when Mr. Johnson & myself got to the House.
We prevailed on him to withdraw his motion, to make way for the introduction of the
subject by Genl. Breckenridge, who we supposed, not being from the local district, would
have more influence with the House. The bill went thro' this morning with but little
opposition. We hope we have taken the course which yourself & the other Visitors will
approve, considering the circumstances in which we were placed. The University is popular
in the Senate, and unpopular in the House of Delegates. I hope the President & Directors of
the Lit: Fund, or the Board of public Works will be able to lend us the money, but upon this
point I cannot speak positively.[846] An immediate meeting of the Visitors is necessary. On
29th. new Visitors are to be appointed. I shall ask the Governor to bring on the appointments
speedily, and if the old Visitors should be reappointed, I shall propose to Genl. B. & Mr.
Johnson to proceed directly to Monticello; & I would take Genl. Cocke along with me from
Bremo.[847]

I am Dr. Sir, faithfully yours,
Joseph C. Cabell.

ALS, ViU:TJ, 1p [1774] with TJ docket "Cabell Joseph C. Richmd. Feb. 24. 20 recd Feb.
27."; printed, Cabell, Early History of the University of Virginia, 182-83.

An Act Authorizing the Visitors

to Borrow Money to Finish the Buildings

An Act authorizing the Visitors of the University of Virginia to borrow money for finishing
the buildings thereof.

Be it enacted by the General Assembly, that the Visitors of the University of Virginia shall
be and they are hereby authorized, for the purpose of finishing the buildings thereof, to
borrow from any of the Banks of this Commonwealth, or from any other person, body
politic or corporate any sum of money not exceeding sixty thousand dollars, at a rate of
interest not exceeding six per centum per annum, and to pledge for the payment of the
interest, and redemption of the principal, of the money so borrowed, any part of the annual
appropriation of fifteen thousand dollars heretofore made by law to the said University.
Provided that the aforesaid pledge shall not extend to the Commonwealth or beyond the
aforesaid annual appropriation of fifteen thousand dollars.

This act shall commence and be in force from and after the passing thereof.

Passed the House of Delegates & the Senate Feb: 24. 1820.

AD, in JCC's writing, ViU:TJ, 1p [1775] with TJ docket "Act for loan of 60,000. D." Joseph
Carrington Cabell enclosed this document in his letter to Jefferson of this date.

The President & Directors of the Literary Fund
Extract from the Minutes

At a Meeting of the President & Directors of the Literary Fund, on Monday the 28th. of
Feby. 1820.

A Letter having been laid before the Board from James Breckenridge, Joseph C. Cabell and
Chapman Johnson, requesting a loan of sixty thousand dollars, on behalf of the Visitors of
the University of Virginia, for the purpose of finishing the buildings;--[848]

Resolved, that the President be authorized to state, on behalf of this Board, their willingness
to make the loan required, should their funds enable them so to do;--upon condition that the
Visitors of the University shall repay the principal sum lent, in five years, in equal annual
instalments, the interest to be also annually paid, and shall pledge in legal and proper form
the annual appropriation made by law to the said University, for the payment of the Interest
and the redemption of the principal so lent.--The Board will engage positively to advance
the sum of ten thousand dollars on the first day of April next; and such farther sum on that
day, not exceeding in the whole twenty thousand dollars, as the state of their funds will
admit:--the residue to be advanced during the year in convenient instalments, provided their
resources to be derived from claims on the General Government, or from other sources, be
adequate.

(A true extract from the proceedings of the Board--)

Wm: Munford, Clerk of the Literary Fund.

ADS (extract), ViU:TJ, 2p [1775] with address "Thomas Jefferson" and TJ docket "Literary
board. Feb. 28. 20. Loan."

The President & Directors of the Literary Fund
Extract from the Minutes

At a Meeting of the President & Directors of the Literary Fund, on Thursday, March 23d.
1820.

A Letter was laid before the Board, from Thomas Jefferson Rector of the University of
Virginia, dated March 10th. 1820, which was ordered to be filed: and the Board being
informed that the whole sum of sixty thousand dollars, for the loan whereof application has
been made to this Board by James Breckenridge, Joseph C. Cabell and Chapman Johnson,
on behalf of the Visitors of the University of Virginia, will not be wanting during the present
year;--[849]

Resolved, That the sum of forty thousand dollars be lent to the Visitors of the University of
Virginia, for the purpose of completing the buildings, to be drawn for between the 1st. and
20th. days of next month (April); the interest to be annually paid, and the principal to be
redeemed in five equal annual payments; the first instalment of said principal to be paid at
the expiration of three years from the date of the loan: Provided, that the annual
appropriation, made by law to the said University, be legally pledged to this Board for the
punctual payment of the annual interest, and the redemption of the principal in the manner
above stated.

The foregoing is a true extract from the proceedings of the Board--

Wm: Munford, Clerk of the Literary Fund--

ADS (extract), ViU:TJ, 2p [1775] with TJ docket "Loan. Literary board."

The President & Directors of the Literary Fund
Resolutions

At a Meeting of the President & Directors of the Literary fund, on Saturday, the 25th. March
1820--

Resolved, that the following be adopted, as the form of the security to be given by the
Rector and Visitors of the University of Virginia, for payment of the interest and principal of
the loan directed to be made to the said Rector and Visitors, by the Resolution of this Board,
bearing date the 23d. instant; viz,

Know all men by these presents, that we Thomas Jefferson, Rector, and James
Breckenridge, James Madison, Joseph C. Cabell, John H. Cocke, Chapman Johnson, and
Robert B. Taylor, Visitors, of the University of Virginia, are held and firmly bound to the
President and Directors of the Literary fund, in the sum of eighty thousand dollars, to the
payment whereof, well and truly to be made, we bind ourselves and our successors, to the
said President and Directors and their successors, firmly by these presents, sealed with the
common Seal of the said Rector and Visitors, & dated this       day of April, in the year one
thousand eight hundred and twenty.--

The Condition of the above Obligation is such, that, whereas the President & Directors of
the Literary fund have this day loaned to the Rector and Visitors of the University of
Virginia, the sum of forty thousand dollars, for the purpose of completing the buildings
thereof; upon the following terms, covenants and agreements;--viz, that the lawful interest
on the said sum shall be annually paid, and the principal be redeemed in five equal annual
payments;--that the first instalment of said principal shall be paid at the expiration of three
years from the date of the loan; and that the annual appropriation, made by law to the said
University, be legally pledged to the said President & Directors, for the punctual payment of
the annual interest, and redemption of the principal in manner aforesaid;--now, therefore, if
the said Rector and Visitors of the University of Virginia, and their successors, shall
faithfully pay to the President and Directors of the Literary fund, and their Successors,
annually on the       day of April, the lawful interest on the said sum of forty thousand
dollars, for three years from this date, and, annually thereafter, the lawful interest on so
much of the said sum as shall then be bearing interest, until the whole of the principal shall
have been paid; and also shall faithfully pay the said principal sum of forty thousand dollars,
in five equal annual payments commencing as aforesaid;--applying, to the purpose of
making the said payments of interest and principal, in manner aforesaid, the sums of money
appropriated annually by law to the use, or for the benefit, of the University of Virginia, or
so much thereof as may be requisite; which sums of money, so appropriated in each year, so
far as requisite for the purpose, are hereby pledged and set apart by the said Rector and
Visitors, to be applied, by the President & Directors of the Literary fund, to the payments of
the said interest, and principal sum of forty thousand dollars, borrowed as aforesaid, and to
no other uses, or objects, until the said payments shall have been made;--then the above
Obligation shall be void, otherwise shall remain in full force and virtue.

(seal)

D, in William Munford's writing, ViU:TJ, 3p [1783] with TJ docket "Literary board Mar. 25.
20." and TJ note "University to Literary fund bond for 40,000. D 1820 Oct. 17. signed a
similar bond for 20,000. D. instalments to begin 4 years from Oct. 1. and interest from same
date."

Thomas Jefferson to Robert B. Taylor

We regretted much your absence at the late meeting of the board of Visitors, but did not
doubt it was occasioned by uncontroulable circumstances. as the matters which came before
us were of great importance to the institution, I think it a duty to inform you of them.

You know the sanction of the legislature to our borrowing 60,000. D on the pledge of our
annuity of 15,000. D. the Literary board offered us 40,000. D on that pledge, to be repaid at
five instalments, commencing at the end of the 3d. year from the date of the loan, and
interest to be regularly paid in the mean time. we endeavored to obtain permission to draw
for only 15,000. D. at first, and for 2,000. D. monthly afterwards, to avoid the payment of
dead interest. this they declined, as bound themselves to keep the whole of their capital
always in a course of fructification. we then requested a postponement of instalments to the
4th. instead of the 3d. year, with an additional loan of the further sum of 20,000. D
authorised by the law. to the postponement they acceded and we are assured they will to the
further loan. to explain to them the urgency of this additional year's postponement, a paper
was laid before them of which I inclose you a copy, and on which we are now acting. should
the legislature not help us to the 93,600 D therenoted, the result will be that at the end of the
next year all the buildings will be compleated (the Library excepted) and will then remain
unoccupied 5. years longer,[850] until our funds shall be free for the engagement of
Professors. should they, on the other hand, give this aid, our funds will be free, at the
beginning of the next year and will enable us to take measures for procuring professors in
the course of that summer; and to open the University. we were all of oppinion that we
ought to compleat the buildings for the 10. Professors contemplated, as well as
accomodations for the students, before opening the institution. for were we to stop at any
point short of the full establishment, and open partially, as our funds would thenceforward
be absorbed by the Professors' salaries, we should never be able to advance a step further,
nor to cover the whole field of science contemplated by the law and made the object of our
care and duty. we thought it better therefore to risk a delay of 8. years for a perfect
establishment, than to begin earlier and go on forever with a defective one: and we suppose
it impossible that either the legislature, or their constituents, should not consider an
immediate commencement as worth the sum necessary to procure it. you will observe that in
the estimate inclosed, no account is taken of our subscription monies. they are in fact too
uncertain in their collection to found any necessary contracts; and we thought it better
therefore to reserve them as a contingent fund, and a resource to cover miscalculations and
accidents.

Another subject on this, as on former occasions, gave us embarrasment. you may have heard
of the hue and cry raised from the different pulpits on our appointment of Dr. Cooper, whom
they charge with unitarianism as boldly as if they knew the fact, and as presumptuously as if
it were a crime and one for which, like Servetus, he should be burned: and perhaps you may
have seen the particular attack made on him in the Evangelical magazine. for myself I was
not disposed to regard the denunciations of these satellites of religious inquisition; but our
colleagues, better judges of popular feeling thought that they were not to be altogether
neglected; and that it might be better to relieve Dr. Cooper, ourselves and the institution
from this crusade. I had recieved a letter from him expressing his uneasiness, not only for
himself, but lest this persecution should become embarrassing to the visitors, and injurious
to the institution; with an offer to resign, if we had the same apprehensions. the Visitors
therefore desired the Commee of Superintendance to place him at freedom on this subject,
and to arrange with him a suitable indemnification. I wrote accordingly in answer to his
letter, and a meeting of trustees of the College at Columbia happening to take place soon
after his reciept of my letter, they resolved unanimously that it should be proposed to, and
urged on their legislature to establish a professorship of geology and mineralogy, or a
professorship of law, with a salary of 1,000. D. a year to be given him, in addition to that of
chemistry, which is 2,000. D. a year, and to purchase his collection of minerals; & they have
no doubt of the legislature's compliance. on the subject of indemnification, he is contented
with the balance of the 1,500. D. we had before agreed to give him, and which he says will
not more than cover his actual losses of time and expences. he adds `it is right I should
acknolege the liberality of your board with thanks. I regret the storm that has been raised on
my account; for it has separated me from many fond hopes and wishes. whatever my
religious creed may be, and perhaps I do not exactly know it myself, it is pleasure to reflect
that my conduct has not brought, and is not likely to bring, discredit to my friends. wherever
I have been, it has been my good fortune to meet with or to make ardent and affectionate
friends. I feel persuaded I should have met with the same lot in Virginia had it been my
chance to have settled there, as I had hoped and expected. for I think my course of conduct
is sufficiently habitual to count on it's effects.' I do sincerely lament that untoward
circumstances have brought on the inseparable loss of this professor, whom I have looked to
as the corner stone of our edifice. I know no one who could have aided us so much in
forming the future regulations for our infant institutions: and altho we may perhaps obtain
from Europe equivalent in science, they can never replace the advantages of his experience,
his knolege of the character, habits & manners of our country, his identification with it's
sentiments & principles and the high reputation he has obtained in it generally. In the hope
of meeting you at our fall visitation, and that you will do me the favor of making this your
head quarters, and of coming the day before, at least, that we may prepare our business at
ease, I tender you the assurance of my great esteem & respect.

Th: Jefferson

ALS (polygraph copy), DLC:TJ, 4p, with TJ docket "Taylor Genl. Robert. May 16. 20." At
the bottom of page one TJ wrote "Genl. Taylor Mr. Johnson," and on 17 May TJ wrote
James Madison concerning this letter: "As the measures which were adopted at the last
meeting of our visitors were of a very leading character I have thought it proper to inform
our absent colleagues of them; and have delayed the communication only until I could add
what has been done under the resolutions of the board. as this latter information has not
been received by you, I inclose you my letter to General Taylor for perusal and pray you,
when read, to stick a wafer in it and put it into the post office. you will excuse this economy
of labor, as from the stiffening of my wrist, writing is become slow & painful. I have
moreover such another letter to write to mr. Johnson, and a good part of it to Genl.
Breckenridge. My general health is mended, altho' I do not gain strength. I am obliged to
continue bandages, altho' under their pressure the swelling is kept down, yet it returns on
omitting them" (DLC:JM).

Literary Fund
Resolution Authorizing Loan

The President laid before the Board a Letter from Thomas Jefferson Rector of the University
of Va., dated the 1st. instant, requesting to be informed of the determination of the Board
concerning a loan from the Literary Fund to the Rector & Visitors of the said University of
the remaining sum of twenty thousand dollars which they were authorized by law to borrow;
which letter being considered, Resolved, that the President inform the said Rector &
Visitors, that the said sum of twenty thousand dollars will be loaned to them from the
Literary fund, provided the same be applied for on or before the first day of June next, upon
the same terms upon which the loan of forty thousand dollars has already been made to the
said Rector & Visitors from the Literary fund; and that a Warrant will be directed to be
issued on the Treasurer, for the said sum of twenty thousand dollars, in favour of the Bursar
of the said University, as soon as a Bond, for payment of the interest & principal thereof,
shall have been executed, in the same manner & form as the Bond for forty thousand dollars
as aforesaid was executed, and approved by the Board.--

D, in William Munford's writing, ViU:TJ, 1p, with ASB docket "Copy Resolution of the
Literary Board last installment of Loan to the University." and TJ docket "recd. July 30. 20.
with information that it will be more conven[ien]t for the Treasury not to call for the money
till November." Jefferson later wrote beneath his docket "This resoln it seems was never
passed." After receiving this proposed resolution Jefferson wrote William Munford on 13
August, saying, "On the 30th. Ult. I recieved from the President of the board of the Literary
fund the copy, which altho not authenticated, he assured me was correct, of a resolution of
the board in answer to my letter of May 1. agreeing to lend to the Visitors of the University
of Virginia the further sum of 20,000. D. provided it be applied for on or before the 1st. day
of June then next ensuing. the date of my reciept of the notice of this resolution will answer
the cause of our not having made the application before the day it required: but this I trust
will be deemed of less importance as the President of the board assures me the treasurer
informed him the sum would be more conveniently paid if not called for till October. as that
will be in time for us I will only say that it shall be called for then, or at any earlier day at
which the board shall require it" (ViU:TJ).