Lot #80

James Monroe

Description

From president to pauper: debt-ridden Monroe embarrassingly finds himself in a hole: “It is painful to me, not to be able to remit to you, the small sum which you desire, as administrator on the estate of the late Dr. Wilson, but I declare to you, trifling as it is, that I have not, at this time, the means”

ALS written from Oak Hill, one page, 8 x 10, April 15, 1830. Monroe embarrassingly admits being unable to repay a debt. In part, “It is painful to me, not to be able to remit to you, the small sum which you desire, as administrator on the estate of the late Dr. Wilson, but I declare to you, trifling as it is, that I have not, at this time, the means. Had my health permitted…I should have attended at Leesburg on Monday last, at which time, I contemplated giving you the above information…It shall be paid, if you desire it, immediately by the date, of property, at that it be at a sacrifice.” Upon leaving the White House after Monroe's presidency expired on March 4, 1825, James Monroe had racked up debts over the years of public life. As a result, he was forced to sell off his Ash Lawn plantation to pay off the debts, since then he never financially recovered, his wife's poor health made matters worse. As a result, he and his wife Elizabeth lived in Oak Hill until Elizabeth's death on September 23, 1830. In fine condition, with some scattered light toning and foxing and expected folds. COA John Reznikoff/PSA/DNA and R&R COA.

Auction Info

• Auction Title:
• Dates: #301 - Ended September 21, 2005