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Description
Wiggin gives Chase financial advice on the purchase of land for the Ohio Seminary.
Date
7-15-1824
Keywords
Ohio Seminary, Lord Kenyon, England and America, Mr. Wells
Recommended Citation
Wiggin, Timothy, "Letter to Philander Chase" (1824). Philander Chase Letters. 389.
https://digital.kenyon.edu/chase_letters/389
Rights Statement
Transcript
Liverpool July 15 1824
My Dear Friend
As words, spoken amidst a variety of engagements, are liable to be misunderstood, I think it my duty to state, in writing, the substances of what I said or wish to say on the subject of the contemplated purchase of land for the benefit of the Ohio Seminary. In the first place I should not be willing to be proprietor of more than one half, or to have the purchase made without my consent, nor to have the money drawn for before I may authorise it. Lord Kenyon is of the opinion that it will be best to invest your funds in land, and for you to place some reliance on your friends in England and America, and in case those dependencies should fail, to borrow a part on [security] of the land, to defray your annual expenditure. He did not think an investment in stock would be so safe.
I am of his Lordship’s opinion, but I am inclined to think that it will be judicious to purchase land of a good quality, not much improved, as such land will be more certain to become of higher value, than land already at its highest state of improvement. I hope Mr. [Wells] will be a trustee, for it will give me additional confidence in what may become. In case of my being interested I shall expect the trustees to take care of the property without subjecting me to any expense. If you can influence any one else to join in the purchase, it would suit me better, than to take an interest in it.
I need not add how much I shall always feel interested in your success, or give you fresh appearances of my esteem and friendship, but beg you to believe that I remain sincerely and faithfully yours.
T. Wiggin