Note 698 — Chapter VI
Reading edition
"Virginia certainly owed two millions sterling [$10,000,000] to Great Britain at the conclusion of the war. Some have conjectured the debt as high as three millions [$15,000,000].... These debts had become hereditary from father to son for many generations, so that the planters were a species of property annexed to certain mercantile houses in London.... I think that state owed near as much as all the rest put together." Jefferson's explanation of these obligations is extremely partial to the debtors, of whom he was one. (Jefferson to Meusnier, Jan. 24, 1786; Works: Ford, v, 28.)
Most of Jefferson's earlier debts were contracted in the purchase of slaves. "I cannot decide to sell my lands.... nor would I willingly sell the slaves as long as there remains any prospect of paying my debts with their labor." This will "enable me to put them ultimately on an easier footing, which I will do the moment they have paid the [my] debts,... two thirds of which have been contracted by purchasing them." (Jefferson to Lewis, July 29, 1787; ib., 311.)