Letter to Nathaniel Tracy advising him on the payment of his debts - American History 1493-1945 - Adam Matthew Digital

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Field name	Value
Collection Reference Number	GLC02437.04526
From Archive Folder	The Henry Knox Papers [0094] January-March 1790
Title	Letter to Nathaniel Tracy advising him on the payment of his debts
Date	2 March 1790
Author	King, Rufus (1755-1827)
Additional authors	Gerry, Elbridge (1744-1814); Knox, Henry (1750-1806)
Recipient	Tracy, Nathaniel
Document Type	Correspondence; Business and financial document
Content Description	Signed secretarially by Rufus King, Elbridge Gerry, and Henry Knox. Discusses the financial situation of Nathaniel Tracy and states that they are averse to taking on the payment of his debt owed to Major Gibbs. They believe that paying Gibbs will lead to Tracy's other creditors expecting payment as well. Will try to stop the proceedings of Gibbs against Tracy and will assist Tracy with expenses while at Hartford. In the hand of William Knox. Signer of the U.S. Constitution.
Subjects	Revolutionary War General Finance Estate Debt Law
People	Gerry, Elbridge (1744-1814) King, Rufus (1755-1827) Knox, Henry (1750-1806) Tracy, Nathaniel (1751-1796)
Place written	New York, New York
Theme	Merchants & Commerce; Law
Sub-collection	The Henry Knox Papers
Additional Information	Signer of the U.S. Constitution.
Copyright	The Gilder Lehrman Institute of American History
Module	Settlement, Commerce, Revolution and Reform: 1493-1859
Transcript	Show/hide Download PDF New York March 2d. 1790 Dr. Sir, The Sudden and unexpected departure of of your express prevented us from writing you on the subject of [his] mission - We cannot but express our warm disapprobation at the conduct of Major Gibbs so far as we are acquainted with the circumstances, and for that reason should be very averse from taking on ourselves the payment of his debt and thus rewarding an act which we are constrained to condemn for this We consider as the inevitable consequence of Signing a bail notwithstanding the opinion of Mr. Edwards to the contrary but we have another objective as it respects your future Situation: if the payment of that Sum would have the desirable effect of liberating you from all your present embarrassments, difficult as it is at this time to pay the Specie we would do every thing in our power to effect it - but the inevitable consequence of paying Mr Gibbs would be the adoption of Similar measures by many of your other Creditors in Expectation of relief from your other friends, and they would be more obstinate in their measures after this Success, of one of your Creditors than otherwise they would be - We therefore are clearly of opinion Mr. Gibbs ought not at all events to be benefited [2] benefited by his manoeuvre, and that now is the time to put a Stop to such a proceeding - We shall be happy to supply with any monies necessary for your expenses while at Hartford, and have written to our friends at Boston to discountenance Mr. Gibbs, [endure] & prevail upon him to abandon We are Dear Sir Your friends & Ob. Servt. R. King E. Gerry H Knox Nathl. Tracy Esqr. [docket] New York March 2d. 1790 Nathl. Tracy Esqr.

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