Details
MORRIS, ROBERT. Singer (Pennsylvania). Autograph letter signed ("Robt. Morris") to Sylvanus Bourne of Amsterdam. Philadelphia, 30 March 1795. 9 pages, 4to. Fine condition.
"THE ART OF THE DEAL," 1795
An exceptionally long, glowing description of Morris's grandiose plan to make a fortune by the sale in Europe and America of American frontier lands. Morris concurs with Bourne's refusal of bills presented by Mr. Greenleaf, explaining that the man "risqued those drafts in the firm belief that you would be possessed of Funds to pay by the time they could fall due. I have not the smallest doubt but you made every exertion to obtain them...." The deeds for some of their lands, he reports, have been "again vested in Mr. Nicholson & my self"; and Morris requests that Bourne "will not do anything either as to Sale or Mortgage of them until you hear further...as we have made another appropriation...[and] the money obtained must go to the use of that appropriation...." Morris alludes a printed plan or prospectus "for the sale, settlement and improvement of Six Million Acres of our Lands...also 1800 Shares...which we hope will arrive in time and enable you to pay the bills you had accepted. This is one of the best plans that ever was formed in America, it will be useful to the country by bringing large Tracts of Land in several States forward to Cultivation...adding Strength & Wealth to the States...it will be exceedingly profitable to all who shall buy the Shares, for besides the annual Dividend...in the course of fifteen years...they will recieve dividends to the Amount of at least four, but I believe Ten times the Capital they invest...." Morris then furnishes a meticulous explanation of his plan to sell, manage and settle these lands, choosing as a demonstration a hypothetical 100,000-acre tract in Georgia; their agent will "chose a convenient Spot for a Town...and lay out 200 to 300 Lotts which may be sold Cheap so as to induce Mechanics, such as Carpenters, Smiths, Taylors, Shoemakers &...to settle there...." The remaining lands will be divided into farms by survey. The demographics of the America, he assures Bourne, will ensure success: "You must know that every new year produces a race of young men & women in this country who are obliged to seek new Settlement, and the number exceeds all Computation....Every State in the Union is filling up faster than the most knowing people suppose...."
As proof of the potential of his scheme, Morris asserts that "the Million of Acres that I sold in the year 1791 to Mr. Pulteney of London for #75,000 Sterling has already produced $675,000 Dollars...and will produce $2,500,000 more," though he confesses "the mere Statement of Facts must appear Fabulous to men not acquainted with the Subject...." Fabulous it proved to be, to the ruin of Morris, most of his backers and agents and a large number who purchased lands under his plan, which collapsed completely in , landing Morris in debtor's prison. This is the longest letter of Morris to have appeared for sale in at least years, according to American Book Prices Current.
"THE ART OF THE DEAL," 1795
An exceptionally long, glowing description of Morris's grandiose plan to make a fortune by the sale in Europe and America of American frontier lands. Morris concurs with Bourne's refusal of bills presented by Mr. Greenleaf, explaining that the man "risqued those drafts in the firm belief that you would be possessed of Funds to pay by the time they could fall due. I have not the smallest doubt but you made every exertion to obtain them...." The deeds for some of their lands, he reports, have been "again vested in Mr. Nicholson & my self"; and Morris requests that Bourne "will not do anything either as to Sale or Mortgage of them until you hear further...as we have made another appropriation...[and] the money obtained must go to the use of that appropriation...." Morris alludes a printed plan or prospectus "for the sale, settlement and improvement of Six Million Acres of our Lands...also 1800 Shares...which we hope will arrive in time and enable you to pay the bills you had accepted. This is one of the best plans that ever was formed in America, it will be useful to the country by bringing large Tracts of Land in several States forward to Cultivation...adding Strength & Wealth to the States...it will be exceedingly profitable to all who shall buy the Shares, for besides the annual Dividend...in the course of fifteen years...they will recieve dividends to the Amount of at least four, but I believe Ten times the Capital they invest...." Morris then furnishes a meticulous explanation of his plan to sell, manage and settle these lands, choosing as a demonstration a hypothetical 100,000-acre tract in Georgia; their agent will "chose a convenient Spot for a Town...and lay out 200 to 300 Lotts which may be sold Cheap so as to induce Mechanics, such as Carpenters, Smiths, Taylors, Shoemakers &...to settle there...." The remaining lands will be divided into farms by survey. The demographics of the America, he assures Bourne, will ensure success: "You must know that every new year produces a race of young men & women in this country who are obliged to seek new Settlement, and the number exceeds all Computation....Every State in the Union is filling up faster than the most knowing people suppose...."
As proof of the potential of his scheme, Morris asserts that "the Million of Acres that I sold in the year 1791 to Mr. Pulteney of London for #75,000 Sterling has already produced $675,000 Dollars...and will produce $2,500,000 more," though he confesses "the mere Statement of Facts must appear Fabulous to men not acquainted with the Subject...." Fabulous it proved to be, to the ruin of Morris, most of his backers and agents and a large number who purchased lands under his plan, which collapsed completely in , landing Morris in debtor's prison. This is the longest letter of Morris to have appeared for sale in at least years, according to American Book Prices Current.