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Description
Wiggin advises Chase on financial matters relating to the foundation of the Seminary and updates him on the lives of his family members as well as Chase's other English friends.
Date
7-14-1825
Keywords
Mrs. Reed, Alum Creek, Lord Kenyon, Mr. Marriott, June Convention, Board of Trustees, Mr. Kip, Platt Hall, Warwickshire, Oxford, Duff Macfarlane, Mr. Pratt, Bishop of Nova Scotia, Lord Bexley
Recommended Citation
Wiggin, Timothy, "Letter to Philander Chase" (1825). Philander Chase Letters. 531.
https://digital.kenyon.edu/chase_letters/531
Rights Statement
Transcript
Manchester July 14, 1825
My Dear friend,
Since I wrote you I have seen your letter of March 24th addressed to Lord Kenyon which gave us the pleasing intelligence of Mrs. Reed’s great liberality, and of your preparations to found your Seminary at Alum Creek. As Lord K wished my opinion respecting this measure, I stated to him that I thought the 100 acres of land given by that good lady, and the value of the remainder, exceeding what she asked for it, was worth £200 [sterling] in its present uncultivated state, and that it would become much more valuable by fixing the Seminary there. I further stated that the control over so much land would give to the Seminary that kind of local authority, which he and Mr. Marriott so much wished, for the preservation of the morals of the students, and that I could see no objection to the Seminary being fixed there, provided you were willing to submit to personal [?]vations, which you must do for 4 or 5 years at least. I added that the propriety of this would be determined by the June Convention, and if sanctioned by that body, the measure would merit the approbation & support of all your friends here. I hope you will see the necessity of my saying that the time is fast approaching when the funds may be called for, and when it will be necessary for them to decide the question whether the conditions on which the donations were made have been [complied] with. If such should be the decision of the Convention I shall be satisfied on that point & I doubt your Trustees will be equally so. Thus far all has gone on quite as well, nay better than we had reason to expect, and we are all anxious to hear what was done by the June Convention. I now hope it will not be necessary for you to draw the money from England this year, for two important reasons. The first is exchange is as much lower at my last date than usual, or is likely to be for any length of time after the close of the present year, and the 2nd is the money was invested in [bonds] which are also absent [at] present lower than they were, and less than they cost. I fully therefore think it best for you to postpone drawing for the fund till the beginning of next year, if you can get along without doing so. If the property were my own and I were at liberty to act as I thought I must for my interest I should certainly act as advised above. I was informed by Mr. Kip that the Ohio loan for this year was contracted far before my offer was received, and on terms more advantageous than I offered, and since then I have received your welcome letter of May 12th giving me similar information. When I made the offer I was in hopes I should get the loan, but I rejoice now that I re’d not, for I do not now consider it worth what I offered, and I understand the [?] are likely to lose considerably by it. The object in favour of the Seminary would not have been gained and my private interest would have suffered. I expected you and others in Ohio would have been afforded to subscribe to the loan of stock [earning] 6 percent interest, & at [par] as you intimated, and it was such stock that I am [?] you to buy for me at 5 percent from [?]. As you have not mentioned such stock in your last letter I conclude none was created & that you cannot of course purchase any for me. You will now consider that order and all other proposals respecting stock, withdrawn. & I will only add that I think I am too far distant to become a contractor for loans made in America, and that in future I shall confine myself to agencies, and will gladly render your or the commissioners of Ohio loan, my best services in London, at any or all times, as I am now preparing to go there to [reside] constantly. My establishment at Platt Hall, ever dear to my recollection, is broken up, the furniture sold & my wife & family are at [Learnington] at Warwickshire. I am now in lodging with your nephew, remaining here for the purpose of [doing] my commercial affairs, and I hope soon to do that & to join my family. I am happy to inform you they are all well. Eliza Catherine & [Ben] have joined the party there and were in high health & spirits. The two latter within [?] after the midsummer holidays, and I expect Ben will enter at Corpus Christi College Oxford next Easter. Eliza has now completed her education, having been two years in Paris and one near London. She never thinks of you but with kindness and veneration. I must say what I can in few words, and in the first place that your friends here are steady and the warmest of them are no less zealous and active than ever. Lord K & Mr. Marriott are always anxious to aid you & the cause, and Miss Macfarlane is equally so. I have the pleasure to inclose a letter from that good lady to you, which I have detained some time, till I found time to inclose it. I wrote to, & receive letters from, [best] and good Lord Kenyon, very frequently, and rejoice that I have become acquainted with such valuable people. Many inquiries are made about you & your [?], & aid the good cause the Trustees have put forth a new statement, and I send herewith a copy to Mr. Kip to be sent to you, when it can be done without expense. It was drawn up by Mr. Pratt Lord Kenyon & Mr. Marriott & I am much pleased with it. I trust you will be equally so. I wish to know how you liked the 2nd letter to Lord Kenyon, which you did not receive for Miss Macfarlane paid me only £50 towards the blankets and I got but one guinea besides towards paying for them, which was about £13 short of cost of shipping & insurance charges. The difference was put down by me as a part of your expenses, and I stated so to Mr. Pratt who does not know any of the particulars of this transaction. The blankets were procured at a fortunate time, and they would now be worth here from £12 to £15 more than I paid for them. They have advanced as much as that time I bought them. As I sent more than you will want soon I would advise you to sell the surplus, and you ought to get a large profit on them. They would bring 25 percent clean profit in New York I have no doubt.
In future I desire you to address your letters for me to the care of Mess. A & F Lodge [?] Liverpool. They will know where to send them thence. Last evening I rec’d a letter from the Lord Bishop of Nova Scotia [?] my support to his application in favour of the University at Windsor, Nova Scotia, and as I approve of his plan I intend to grant it. He urges the necessity of educating Natives on the spot and does not feel it [degrading] to take the attitude of a supplicant although he is a [dignitary] of the Church. I have not seen my family for 3 weeks but they are all well & I remain always your faithful friend,
T. Wiggin
[Side of first page]:
Lord Kenyon has just sent me a copy of the [restruction] of your Convention on June [1st] with which we are much pleased. I am glad you have written to Lord Bexley. He is a good friend and will be delighted with your communication.