NICHOLSON, John (1757-18000. A collection of 33 autograph letters signed ("Jno. Nicholson") most to either Sharp Delaney or William Sansom, 1786-1795, along with 1 autograph receipt signed and 1 transcribed deed signed. Together 36 pages, 8vo, some with seal holes, generally very good condition .
NICHOLSON, John (1757-18000. A collection of 33 autograph letters signed ("Jno. Nicholson") most to either Sharp Delaney or William Sansom, 1786-1795, along with 1 autograph receipt signed and 1 transcribed deed signed. Together 36 pages, 8vo, some with seal holes, generally very good condition . "I AM DISTRESSED TO BE SO FAR BEHIND HAND WITH YOU. BUT IT IS IMPERIOUS WANT [THAT] OCCASIONS IT..." A fascinating archive of letters from one of the most significant--and reckless--real estate speculators in the early republic. Nicholson used his public posts as state auditor and then comptroller general of Pennsylvania to acquire millions of acres of land, often using fictitious names on the land deeds. He then tried to sell them off through companies like the North American Land Company, which he formed in partnership with James Greenleaf and Robert Morris in 1795. This highly leveraged venture, however, proved the financial undoing of all three men. Most of these letters show Nicholson desperately fending off his impatient creditors. 31 December 1794 to William Sansom: "I am not insensible to the approaching pay day of my notes to you...I am doing all I can to face them. Whether I shall accomplish it, I cannot yet say. If you can point me out any assistance in the business I pray you do, for I need it." 20 January: "I am distressed to be so far behind hand with you. But it is imperious want [that] occasions it..." 27 February 1795: "I now feel confident that I shall tomorrow or Monday meet your wishes in the 15,000 Dollars but do not make engagements or reliance thereon. You know I have been disappointed here before. Hope I will not again." The problem, as he explains on 10 March 1795, was that most of his debts were secured by other debts: "I declare to you my regret at the situation I am in. I declare to you that it hath been, and is yet, out of my power to discharge this firm without prejudice to others who hold my paper also being over owing to my being disappointed in the receipt of money which was due to me..." Litigation has erupted against him and Morris by 24 March 1795. Things are getting nastier on 24 June 1795 when Nicholson protests losing his place on "the change." 26 September [1795]: "Mr. Morris told me yesterday he thought he would be able to pay you his notes shortly, say a few days. If so this will settle one difficulty as to the balance due..." But a postscript to his 23 November letter reads: "I called on R. M. but he was out & I have not seen him since." By 26 December 1795 a familiar litany takes hold: "I find I can't pay you any mo. this day. I will on Monday." 11 January 1796: "I cannot get money today. I am sorry I can't give you better news." Things ended badly for both Morris and Nicholson, as they landed in debtors' prison in 1798 and 1799 respectively. Nicholson even tried to turn a profit with a prison newspaper, but that too failed. He left an astounding $12 million in debts and some 4 million acres of land under liens in Washington, Philadelphia, and the Ohio Valley. Together 35 items . (35)
NICHOLSON, John (1757-18000. A collection of 33 autograph letters signed ("Jno. Nicholson") most to either Sharp Delaney or William Sansom, 1786-1795, along with 1 autograph receipt signed and 1 transcribed deed signed. Together 36 pages, 8vo, some with seal holes, generally very good condition .
NICHOLSON, John (1757-18000. A collection of 33 autograph letters signed ("Jno. Nicholson") most to either Sharp Delaney or William Sansom, 1786-1795, along with 1 autograph receipt signed and 1 transcribed deed signed. Together 36 pages, 8vo, some with seal holes, generally very good condition . "I AM DISTRESSED TO BE SO FAR BEHIND HAND WITH YOU. BUT IT IS IMPERIOUS WANT [THAT] OCCASIONS IT..." A fascinating archive of letters from one of the most significant--and reckless--real estate speculators in the early republic. Nicholson used his public posts as state auditor and then comptroller general of Pennsylvania to acquire millions of acres of land, often using fictitious names on the land deeds. He then tried to sell them off through companies like the North American Land Company, which he formed in partnership with James Greenleaf and Robert Morris in 1795. This highly leveraged venture, however, proved the financial undoing of all three men. Most of these letters show Nicholson desperately fending off his impatient creditors. 31 December 1794 to William Sansom: "I am not insensible to the approaching pay day of my notes to you...I am doing all I can to face them. Whether I shall accomplish it, I cannot yet say. If you can point me out any assistance in the business I pray you do, for I need it." 20 January: "I am distressed to be so far behind hand with you. But it is imperious want [that] occasions it..." 27 February 1795: "I now feel confident that I shall tomorrow or Monday meet your wishes in the 15,000 Dollars but do not make engagements or reliance thereon. You know I have been disappointed here before. Hope I will not again." The problem, as he explains on 10 March 1795, was that most of his debts were secured by other debts: "I declare to you my regret at the situation I am in. I declare to you that it hath been, and is yet, out of my power to discharge this firm without prejudice to others who hold my paper also being over owing to my being disappointed in the receipt of money which was due to me..." Litigation has erupted against him and Morris by 24 March 1795. Things are getting nastier on 24 June 1795 when Nicholson protests losing his place on "the change." 26 September [1795]: "Mr. Morris told me yesterday he thought he would be able to pay you his notes shortly, say a few days. If so this will settle one difficulty as to the balance due..." But a postscript to his 23 November letter reads: "I called on R. M. but he was out & I have not seen him since." By 26 December 1795 a familiar litany takes hold: "I find I can't pay you any mo. this day. I will on Monday." 11 January 1796: "I cannot get money today. I am sorry I can't give you better news." Things ended badly for both Morris and Nicholson, as they landed in debtors' prison in 1798 and 1799 respectively. Nicholson even tried to turn a profit with a prison newspaper, but that too failed. He left an astounding $12 million in debts and some 4 million acres of land under liens in Washington, Philadelphia, and the Ohio Valley. Together 35 items . (35)
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.jpg "Quelle: Christie's")
.jpg "Quelle: Christie's")
