University of Virginia Library

TO NICHOLAS BIDDLE.

Dear Sir Such has been of late years the unfavorableness
of the seasons for the staple productions
in this quarter, and of the markets also
for the main one, and such the disappointment in

collecting debts on which I counted, that I find it
necessary to resort either to a moderate loan or to
a sale of property, which at the present juncture
would be made to great disadvantage. The first
alternative is of course preferable, the rather as the
last, if not finally avoided, is more likely to be alleviated
than made worse by delay.

On the ground thus explained, I would ask the
favor of you to say whether it be consistent with
the views of the Bank of the U. S. to give me a credit
for a sum not exceeding six thousand dollars, at the
lowest allowable rate of interest; and if so, with
what indulgence as to the period or periods for
repaying the principal. It is proper to add that
for making the Bank secure, real estate of ample
amount and without flaw or incumbrance of any
sort will be pledged in whatever form may be
prescribed.

Should this application be successful may I ask
as a further favor that your answer may be accompanied
or followed by the documents to be executed
on my part, prepared according to the requites of
the Bank. I may find it convenient to draw for a
part of the fund as soon as the arrangements will
permit.[73]