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Webster, Daniel (1782-1852) to James William Paige

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Gilder Lehrman Collection #: GLC01946.18 Author/Creator: Webster, Daniel (1782-1852) Place Written: London, England Type: Autograph letter signed Date: 13 October 1839 Pagination: 4 p. ; 22.6 x 18.5 cm. Order a Copy

Relates his European travels to his brother-in-law. States that Samuel Jaudon, his friend and former cashier of the Bank of the United States, is having financial difficulty but is "on his legs." Complains of the high rate of interest for Americans when drawing English capital, claiming it is the goal among certain British banks to "defuse and decry American credit." Continues writing on 16 October to discuss his departure for Paris, delayed so he could "put letters by the Queen" (likely Queen Victoria). States that Jaudon completed his loan 15 October. Recipient inferred from content.

London Octr. 13. 1839
My Dear Sir,
We all wrote by a late Packet Ship; but [then], which I [interred] for the G.W. may nevertheless arrive soonest. And informed you, by that opportunity, the party except myself all left London Sept. 29 - one fortnight this day - for the Continent. I soon heard from them at Antwerp & Brussels; & last Even[ing] recd a letter from Mrs Webster, dated at [Baste] in [Switzerland], on the 8th instant. They probably reached Geneva on the 10th & allowing a day or two for their stay, in that place, I think they may be expected to be in Paris the 15th or 16th - at which time I intend to be there myself. It is quite possible they [2] they may be in Paris in time to write by the [G. W.] but this may not be quite certain. They appear quite please with their Continental travels, except that they complain of want of time.
I am quite well, but feel anxious to get home. Things here are supposed to be rather improving. Mr. [Jacedon] is still on his legs, & if he has fair play, will get thro. his difficulties. He has had a most severe struggle. The Bank has placed him in a very [expired] situation; & the systematic amounts, made from high quarters, as all American audits, I repeated from day to day, with the most embittered hostility, have rendered it [3] it as exceedingly difficult for him to maintain himself. You may depend upon it, there is a purpose, among certain Bankers, Branches, [Hock] Dealers, etc, to defuse & decry American credit. The notion is devious. The rate of interest with us tends to draw English Capital over; whereas those above mentioned desire it should all remain here, to be the subject of frequent [standard] operations, in the money market of London. At the same time, it is certainly true, that American credit, in all positive forms, have been preferred & pushed on this market, in a most unreasonable & extravagant manner.
I wrote you, by the last conveyance and that I was to give Mrs. P. 1000 Dollars in Paris - & that you might pay the amnt. To Mrs. Healey. She wrote you, to the same affect under [4] under the circumstances it was not deemed best to use the credit on Mr. Jacedon.
Oct. 16. I have delayed my departure for Paris for two reasons - first - to get letters by the Queen - second, to have company, which goes tomorrow - the Queen is in - she has a letter for Mrs. W & three from you to Mrs. P. This mornig I recd. a letter from Mrs. W written at Dijon, half way from Geneva to Paris - on the 12th. They are now no doubt in Paris - I go tomorrow morning at 5 o'clock by way of Boulogne - Possibly letters may come from Paris to go by to the G. W. - I think they will, & though I shall be absent, they will be taken care of. We have been advised, by some, not to go [into] [Liverpool]. My own dilemma here is, that if there shall be reason to apprehend the least danger in going in [here], to take a packet ship. Probably you may have written to your wife on this matter. I shall run no risks - a passage in a sail ship will be long and tedious - but there will be no crowd - & it will be [safe.]
Yrs ever truly
D Webster
[written vertically in left-hand column of page 4]
Mr. Jacedon completed his loan yesterday - He [illegible] [illegible] as you know more money. All things are good & [better] in this [illegible] - can you hold our on [credit]?

Webster, Daniel, 1782-1852
Paige, James William, 1792-1868
Jaudon, Samuel, 1796-1874

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