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I received yr. letter today, and was really annoyed to
think how long I had delayed writing to you. I cannot stop now
to explain the causes of my delay. Lately, I have been suffering
with a cold, and every day seems to bring with it full
occupation.
I should think it a profitable investment of funds to
buy stock at par in yr. new bank, provided its management be
committed to honest and capable men. Of the men selected I know
nothing. Rightly managed it ought to derive 10 per cent. My
only doubt arises from the liability of the stocks on wh. its
circulation is based to become depreciated, owing to the unprincipled
prodigality with which the legislature is increasing
the state debt.
I have taken some shares in a similar Bank (the Monticello)
established in Charlottesville, but feel some uneasiness
about the result. The shares, for which I paid $100, w.d now
command $110. I would sell at once if I had any opportunity of
better, i. e. safer investment. Your Bank, having no competition,
ought to do a better business, than our bank here. Ours is doing
well.
If the shares can be had at par, i. e. for $100 each, I
w.d buy. And as the money is lying ready, I would take the amount
in this stock. If I see Wm. Stevens I will speak with him about
the matter. It seems to me impossible that he can have collected
the money from Chrisman merely to lend it to himself, unless the
security were doubtful.
Viginsay sends me word that the stones are nearly ready.
I shall send the money as soon as they are put up. The inscription
should, I think, be made to face towards the grave. Please
send him word, as he wished to know.
Give my love to Mother & all the family.
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