A pressure of business has been sufficient excuse for not giving you earlier notice, although it could have been of no real use to you, yet I wish you to understand our intentions to you and your company, and why we have taken the course we have. You are aware, sir, in some measure of the embarrassment under which we have labored through the influence of mobs and designing men, and the disadvantageous circumstances under which we have been compelled to contract debts in order to our existence, both as individuals and as a society, and it is on account of this as well as a pressure on us for debts absolutely unjust in themselves, that we have been compelled to resort to the course we have [taken] to make a general settlement, and this we deferred to the last moment, hoping that something would turn in our favor, so that we might be saved the painful necessity of resorting to such measures, to accomplish which, justice demanded a very different course from those who are justly our debtors, but demanded in vain.
We have been compelled to the course we have pursued, and you are aware, sir, that all have to fare alike in such cases. But, sir, you have one, yea, two things to comfort you; our faith, intention and good feeling remain the same to all our creditors, and to none more than yourself; and secondly, there is property sufficient in the inventory to pay every debt, and some to spare, according to the testimony of our solicitors, and the good judgment of others; and if the court will allow us some one for assignee, who will do justice to the cause, we confidently believe that yourself and all others will get their compensation in full, and we have enough left for one loaf more for each of our families. Yes, and I have no doubt you will yet, and in a short time, be enabled to have your pay in full, in the way I have before proposed, or some other equally advantageous, but money is out of sight, it might as well be out of mind, for it cannot be had.
Rest assured, dear sir, that no influence or exertion I can yet make shall be wanting to give you satisfaction, and liquidate your claims, but for a little season you are aware that all proceedings are staid; but I will seek the earliest moment to acquaint you with anything new in this matter.