 | Documentary History of the Construction of the Buildings at the University
of Virginia, 1817-1828 |  |
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).
| Documentary History of the Construction of the Buildings at the University
of Virginia, 1817-1828 | |