My interest was one hundred
shares, or twenty thousand acres, for which I had paid, at the time I
mortgaged to Cazenove, upwards of seven thousand five hundred dollars.
The thing was considered as extremely valuable, and I have no doubt
but my interest would, if I could have retained it five years, have
been worth to me more than one hundred thousand dollars. Lands within
the angle were last year sold at twenty dollars per acre.
Though it be obvious that no damages were due or could have been
recovered by the Holland Company on the penalty contained in the
covenants, yet I had several motives to urge me to some sacrifice in
order to get rid of the business. _First._ I could not repay the
advances made by Cazenove, which amounted to several thousand dollars.
_Second._ I could not bear to give any uneasiness to Frederick
Prevost, which might have been the consequence of a legal proceeding.
_Third._ I was a little apprehensive of being sued on the covenants
for payment of the purchase money. Cazenove, on his part, had but a
single motive, to wit--he found that these lands were all I had to
give, and that a suit would have produced only expense.
The aforegoing facts are substantially known to Le Roy, Bayard, and
McEvers, and to Harrison and Ogden. The two last were consulted on the
closing of the business in May and June last (1799). The former of
them, Harrison, several times on the exchange of the bonds.
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