1860 · Roxboro, N.C.
by [North Carolina]. Barnett, J.C.
Roxboro, N.C.: January 15, 1860. Good.. [2]pp. Wrinkled, previously folded. A few minor losses at folds, not affecting text. Two half-inch closed tears from edges. Light toning and foxing. After arriving in Roxboro, North Carolina, in mid-January 1860, planter J.C. Barnett writes to his friend and business partner, a Colonel Henry, to complain about the tight money situation in the state, which has forced him essentially to pawn a slave in order to raise cash:
"I found monetary matters distressingly stringent in the City, and was entirely unable to use the Graham bond at all. I had hoped to get it off at 8 per cent per annum but could not do it at double that amount, the consequence was that after making the last payment on my land which was due 1st Jan 61 with the 3 thousand dollar draft, [I] did not have enough left to pay expenses home and had to deposit a negro to get money to leave the city. So you can judge my situation."
Furthermore, he has other unpaid debts that he hopes to settle with future cotton sales:
"I gave R.H. Williams a draft for 93 dollars, also Messrs Lea & Cheatham of Louisville, one for 111 dollars, [and] owing to the circumstances just mentioned was unable to meet them. You will do me a favor, when you see these gentlemen to explain the reason. When you sell my cotton, after paying Mr. Batt and yourself the expenses, if there is a remainder please apply it to my Louisville and Williams debt. Also Mr. Gratiot has a claim of an hundred dollars. I will write to these gentlemen and tell to apply to you when you sell my cotton."
Interesting detail on economic difficulties in the south just prior to the Civil War. (Inventory #: 5563)
"I found monetary matters distressingly stringent in the City, and was entirely unable to use the Graham bond at all. I had hoped to get it off at 8 per cent per annum but could not do it at double that amount, the consequence was that after making the last payment on my land which was due 1st Jan 61 with the 3 thousand dollar draft, [I] did not have enough left to pay expenses home and had to deposit a negro to get money to leave the city. So you can judge my situation."
Furthermore, he has other unpaid debts that he hopes to settle with future cotton sales:
"I gave R.H. Williams a draft for 93 dollars, also Messrs Lea & Cheatham of Louisville, one for 111 dollars, [and] owing to the circumstances just mentioned was unable to meet them. You will do me a favor, when you see these gentlemen to explain the reason. When you sell my cotton, after paying Mr. Batt and yourself the expenses, if there is a remainder please apply it to my Louisville and Williams debt. Also Mr. Gratiot has a claim of an hundred dollars. I will write to these gentlemen and tell to apply to you when you sell my cotton."
Interesting detail on economic difficulties in the south just prior to the Civil War. (Inventory #: 5563)
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