Details
MONROE, James, President (1758-1831). Autograph letter signed ("Jas. Monroe") to Fenton Mercer, Richmond, 24 March 1808. 2 pages, 4to.
MONROE CALLS IN A LOAN: "MY ESTATE ALSO HAVING BEEN BADLY MANAGED IN MY ABSENCE MAKES THE INCONVENIENCE THE GREATER"
His finances battered after five years of costly service abroad as Minister to Britain and special envoy to Spain on the Florida boundary question, Monroe asks Mercer, son of a college friend John F. Mercer, to promptly repay a loan: "To enable me to leave London without exposing myself to censure...I was forced to pay [a creditor] £250....I borrowed that sum & am much distressed for the want of it, having a much greater one to pay for expenses incurred while I was abroad. My estate also having been badly managed in my absence makes the inconvenience the greater, as even for my current expenses here I can derive but little aid from it, at this time. I therefore hope you that you will be able to reimburse me that sum without delay. I should not request it under other circumstances..."
Monroe's finances were the shakiest of any early President, and he was still some $75,000 in debt after leaving office. For years he lobbied Congress to reimburse him for costs inncurred during his diplomatic service. Congress delayed action until near the end of his life, paying part of his expenses--some $30,000--in 1831, which forcing him to sell his Virginia estate and move in with his daughter in New York City, where he died later that same year.
MONROE CALLS IN A LOAN: "MY ESTATE ALSO HAVING BEEN BADLY MANAGED IN MY ABSENCE MAKES THE INCONVENIENCE THE GREATER"
His finances battered after five years of costly service abroad as Minister to Britain and special envoy to Spain on the Florida boundary question, Monroe asks Mercer, son of a college friend John F. Mercer, to promptly repay a loan: "To enable me to leave London without exposing myself to censure...I was forced to pay [a creditor] £250....I borrowed that sum & am much distressed for the want of it, having a much greater one to pay for expenses incurred while I was abroad. My estate also having been badly managed in my absence makes the inconvenience the greater, as even for my current expenses here I can derive but little aid from it, at this time. I therefore hope you that you will be able to reimburse me that sum without delay. I should not request it under other circumstances..."
Monroe's finances were the shakiest of any early President, and he was still some $75,000 in debt after leaving office. For years he lobbied Congress to reimburse him for costs inncurred during his diplomatic service. Congress delayed action until near the end of his life, paying part of his expenses--some $30,000--in 1831, which forcing him to sell his Virginia estate and move in with his daughter in New York City, where he died later that same year.