The True George Washington [10th Ed.] by Paul Leicester Ford
page 117 of 306 (38%)
page 117 of 306 (38%)
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the landlord did not get simple interest on his investments. Thus, in 1799
he complains of slow payments from tenants in Washington and Lafayette Counties (Pennsylvania). Instead of an expected six thousand dollars, due June 1, but seventeen hundred dollars were received. Income, however, had not been his object in loading himself with such a vast property, as Washington believed that he was certain to become rich. "For proof of" the rise of land, he wrote in 1767, "only look to Frederick, [county] and see what fortunes were made by the ... first taking up of those lands. Nay, how the greatest estates we have in this colony were made. Was it not by taking up and purchasing at very low rates the rich back lands, which were thought nothing of in those days, but are now the most valuable land we possess?" In this he was correct, but in the mean time he was more or less land-poor. To a friend in 1763 he wrote that the stocking and repairing of his plantations "and other matters ... swallowed up before I well knew where I was, all the moneys I got by marriage, nay more, brought me in debt" In 1775, replying to a request for a loan, he declared that "so far am I from having £200 to lend ... I would gladly borrow that sum myself for a few months." When offered land adjoining Mount Vernon for three thousand pounds in 1778, he could only reply that it was "a sum I have little chance, if I had inclination, to pay; & therefore would not engage it, as I am resolved not to incumber myself with Debt." In 1782, to secure a much desired tract he was forced to borrow two thousand pounds York currency at the rate of seven per cent. In 1788, "the total loss of my crop last year by the drought" "with necessary demands for cash" "have caused me much perplexity and given me more uneasiness than I ever experienced before from want of money," and a |
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