Letter from Horace Hotchkiss, 9 May 1842

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9th May 1842
Jos. Smith Esqr.
De[a]r Sir— I have to-day recd. returns from the sale of timber land in and find that if I confirm the sale it will amount to only 152 dollars— You will probably reccollect that this tract of Land was taken in payment for interest at 800 dol[lars] of course the loss would be very great— I sometime since wrote you that I would receive Illinois State Bank Notes at par for the interest and then continued depreciation affords you a capital opportunity of paying— I have no doubt that many of your friends would gladly loan you their money and take such securities as you can give them— And perhaps you can do better still by purchasing it at a discount
Your Obt Sert
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9th May 1842
Jos. Smith Esqr.
Dear Sir— I have to-day recd. returns from the sale of timber land in and find that if I confirm the sale it will amount to only 152 dollars— You will probably reccollect that this tract of Land was taken in payment for interest at 800 dollars of course the loss would be very great— I sometime since wrote you that I would receive Illinois State Bank Notes at par for the interest and then continued depreciation affords you a capital opportunity of paying— I have no doubt that many of your friends would gladly loan you their money and take such securities as you can give them— And perhaps you can do better still by purchasing it at a discount
Your Obt Sert
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