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 Legal dispute concerning a promissory note. Slave trading. Prices in New Orleans

  • » Date: 1842-04-23
  • » Subject: Legal dispute concerning a promissory note. Slave trading. Prices in New Orleans
  • » Written By: Calvin M. Rutherford
  • » Addressed To: Major James Turk Gleaves Sr
  • » Transcriber: Pen Bogert
  • » File # 407

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NEW ORLEANS La. APR 24 (postmark)

Free

Majr. James T. Gleaves P. M. (Postmaster)
Buffalo Ford
Wythe Cty
Va.


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New Orleans 23d April 1842

Majr. James T. Gleaves
Dr Sir – I recd yours of the 22 March informing me that A. S. Fulton held a claim against (me) for the benefit of S. Browne or a claim against an individual that I was endorser for the nature of that claim is this I assigned a piece of paper over to Browne for a bond of mine that he held which I executed to L. Straw and James Gardner for a patent right threshing machine I sold my claim to a man by the name of Holt and that was the paper that I let Browne have he knowing at the same time the nature of this bond that he got from Straw & Gardner he was informed that the note that I gave them was conditional and the Consideration for which that note was given entirely faild and further he lost all recourse on me by letting Holt leave the Country without using any effort whatever to make his money I have been informed that Holt was sued and he took the responsibility of waiting a longer time he was directed to sue Holt he never had the note protested for nonpayment consequently (crossed out) and by his negligence I am not nor ever was bound for that debt oly (only) Conditioned provided the machinery proved good which it did not and he was apprised of that fact when he traded with Straw & Gardner for my note I never will pay that note


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of Holts unless Compelled to do so by law you can say to Mr Fulton that I will be there in July and if he wishes to proceed against me at that time he can do so in the meantime if he takes teps (steps) towards my property there I want you to Contest the matter upon the grounds of want (lack) of Consideration and neglect to protest the note at maturity and indulgance to Holt the drawer of the note emply (employ) Wm. B. Preston I believe that he practices there give him a Conditional of $50 – provided he succeeds and ten Dollars without Henry Hoppess is acquainted with the transaction and Can give you as much information as I Can on the Subject it is unjust that Browne should pretend to hold me for that debt he tryed to get me to settle that debt of Holts since he Came out and I refused upon the grounds stated and I wished him to bring Suit against me at Vicksburg and he refused to do so knowing that he had no just Claim against me for that debt he used every means that he Could to Compromise with me by my paying part or executing my bond to him and I always refused knowing that he had no Claims upon me from the nature of his indulgence to Holt & other neglect he has not mentioned the matter to me for he has the last


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two years and he is at this time my agint at Vicksburg Miss – and has claims of mine in his hands for more that (than) two thousand dollars for Collection he knows very well that he could not recover that debt from me by law but thinking to take advantage of me in my absence from Va. I will write to Browne on the Subject – please say to mother that I am in good health and will certanly be there in July I will not get through my business here before the 15th or 20th of June Negro property is Very low here this Season they have come down to old prices here men are worth about $500 and women $400 and dull sale at [ ] prices Commercial distress Very great fine Sugar selling here at three cents pr lb. and Coffee at 8 cents Cotton worth from 6 to 8 cents I wish you to see Fulton and write to me on the recpt of this

Very Respectfully
Your Obt Svt
C. M. Rutherford

P. S. I had almost forgoteen to say to you that we are in the midst of Summer here at this time all Vegetables and fruits of the Season ripe watermelons plenty in market snap beans cucumbers strawberries since the 10th of this month and the City Very healthy
yours &c
R

Transcriber Notes

See also Letter 404. The embossed mark indicates that this letter is written on fine stationery manufactured in Norwich, Connecticut. This letter is a good example of how promissory notes were used in place of currency. If there were insufficient funds in the drawer’s account (the person who wrote the note) at maturity, then the note was protested. The transactions were a financial version of the game of “hot potato” – the notes could be used as currency to pay debts and could be assigned (endorsed) numerous times up to the due date. The last person to assign the note was the person liable for payment. Shepherd Browne, who was Rutherford’s agent in Vicksburg, was a wealthy Vicksburg banker who was born in Virginia circa 1802.

Comparing the hand writing, clarity, and accuracy in this letter to others from C. M. Rutherford, it appears that he is very agitated while writing this letter.

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