Having
reached the old beaten track, my journey was more comfortable. I had been reduced to one biscuit a day for
several days; had traveled in the wilderness for about thirty days. But all these troubles were at an end and it
was the happiest hour of my existence.
I
had safely waded through all the difficulties and met my friends and
companions-in-arms. My greatest desire
was accomplished, and I hoped to have a few days’ rest. But this was not to be. I had scarcely been in camp two hours before
marching orders came [leaving most of the brigades' baggage, General Coffee
selected the stronger men of his command] to make a force march to New Orleans,
that the enemy was hovering along the coast.
Everything was put in order and we were on our march before day.
We
arrived in New Orleans [December 20th] in three days and nights -- a distance
of one hundred and seventy-five [135] miles.
We encamped there three days, making preparations to meet events as they
might turn up. On the evening of the
23rd of December an express came that the English had landed and were coming up
the levee to take the city. Our order
was to be in our saddles in five minutes. It was all bustle and confusion; most
of the horses were loose on the plains and could not be had on such short
notice but enough were gotten up to form a regiment of eight hundred.
According to an oft-repeated
story, Jackson, still not well, was lying on a sofa in his headquarter about 1
o'clock in the afternoon when the news came that the enemy was in force only 9
miles below New Orleans. He jumped up
from the sofa, and 'with and eye of fire and an emphatic blow on the table'
cried:
'By the eternal, they shall
not sleep on our soil.'
Then, quickly becoming calm,
Jackson called his aides, and said, 'Gentlemen, the British are below. We must
fight them tonight.'
General Andrew Jackson 1815
The decision to attack at
once was as important as any ever made by a commander. The British could have entered New Orleans
easily at this time, for there were no important forces or defensive works
between them and the city. (Roush, J. Fred, Chalmette, U.S. Dept. of
Interior, 1958, Historical Handbook No. 29, p.20)
... When Jackson learned
that the British had landed Carroll's and Coffee's men were 4 or 5 miles above
the city... The Tennesseans under Carroll and Coffee arrived less than two
hours after orders were issued...
Coffee and ...the others
stared about sunset on their way along the road to the enemy... At nightfall,
Jackson's force reach the spot where the De La Ronde Oaks stand today... There
the little army divided. General Coffee
commanded one division... the other division... commanded by Jackson himself...
(Roush, Chalmette, p. 21).
We
were soon in line, with order to march.
We went at about half speed and called a halt in the city to supply
ourselves with ammunition. During the
halt, there was a great bustle in the city.
Bells were ringing, colors of flags flying and martial music in every
direction, all of which was well calculated to inspire the soldiers with
courage. The citizens were busily
engaged in treating the soldiers along the lines. Our halt was but short; we were soon under
way to meet the enemy. After a march of
seven or eight miles, we saw their encampment.
This was about dark. The order
for battle was given; preparations for an attack were made.
[...Coffee and his men had
moved to the left to attack the British flank.
The Tennesseans dismounted and turned their horses loose because the
cane fields where they fought were cut by ditches. Coffee's men were almost in position when the
Carolina opened fire. Then they
advanced, firing rifles and muskets into the British camp. Experienced in Indian warfare, and accustomed
to night battles, the frontiersmen drove the British back. Fighting as individuals, they cut their way
through the British camp. 'In the whole course of my military career I remember
no scene at all resembling this', a British officer wrote later. 'An American
officer, whose sword I demanded, instead of giving it up... made a cut at my
head.' Friend and foe were confused in the dark.
British reinforcements from
Lake Borgne arrived, and their army found a position behind an old levee. Coffee's men could not dislodge them,
although these Tennesseans kept on shooting after Jackson's immediate command
had ceased. Both wings of the American
army withdrew to a place near the De La Ronde mansion and waited for daylight.]
(Roush, p.25)
The
mounted rifle men soon forced the enemy's back line into the river, where they
again formed on the levee. After several
charges and retreats, their column gave way, and we occupied the battle ground
during the night. But I must be brief
and leave history to explain. It will answer
my purpose to say that I was in every battle during the siege. On the 23rd of
December I was slightly wounded on the wrist.
Did not feel the wound when made but discovered it by the blood filling
the gunlock, when in the act of priming in the dark. About the same time, my Captain, Beverly
Williams, was struck, causing the loss of his eyesight.
American defenders on the Jackson Line and the British attack. Jan. 8, 1815.
The Americans lost 24
killed, 115 wounded, and 74 missing. The
British commander reported 46 killed, 167 wounded, and 64 missing...(Rouse, pp.
25-28).
It had been a close
call. Jackson himself wrote that had the
British arrived a few days sooner, or had the Americans failed to attack them
in their first position, the invaders probably would have taken New
Orleans. (Roush, p. 28)
During the battles of the
23rd and 28th, New Year’s Day, and the 8th of January, I was actively
engaged...
December 28... this second
land battle for New Orleans, called by the British a 'reconnaissance in force,'
did not last long. The Americans lost 7
killed and 10 wounded. British losses
were 9 killed and 8 wounded.
At the swamp end of the
line, a detachment of Carroll's troops under Colonel Hutchinson was ordered to
skirt the edge of the swamp and dislodge the invaders. When the colonel was killed by the first
British fire, the detachment withdrew in confusion. (Roush, p. 30)
New Year's morning was
foggy. Back of Jackson's line, soldiers
in their best uniforms were preparing for a parade. A band was playing. Civilian visitors, including women, gathered
for the celebration. Suddenly there was
a tremendous explosion, followed by shells and rockets. Spectators fled in every direction. The troops dashed to the mud ramparts. (Roush,
p. 31)
Brig. General John Coffee, 1772-1834, who commanded
of the Tennessee troops in the Battle of New Orleans, and played the most
important part in the American night attack on the British on December 23,
1814.
...An attempted assault by
the British infantry during a lull in the cannonading was thrown back by Coffee
and the Tennesseans. Although considerably
damaged, the American guns kept up their accurate fire...By noon the British
fire slacken and at 1 p.m. it ceased.
The American
losses were 11 killed and 23
wounded. The British lost 32 killed, 44
wounded, and 2 missing... (Roush, p.32-33)
...The Rodriguez Canal was
from 10 to 20 feet wide and from 4 to 8 feet deep. The mud wall behind the canal, though
irregular in height and thickness, could withstand the enemy's cannon balls as
far as the cypress swamp. In the swamp
the wall was only thick enough to resist musket balls. It was a double log wall, with earth
between...The line in the swamp was held by Coffee's men, who suffered great
hardships, even sleeping in the mud. (Roush, p.33)
...Jackson had about 4,000
men on the line January 8. Pakenham had
about 5,400 in his attacking force. Half
of the Jackson's men had spent the night at the breastworks, taking turns
occasionally. Their commander was
awakened shortly after 1 a.m., and from then on was going up and down the line,
inspecting, encouraging the men, and dictating orders. (Roush, pp. 33-35)
...the British veterans
continued to advance in fairly good order until they came within musket range
of the Tennessee and Kentucky troops.
Small arms fire from 1,500 pieces added to that from the artillery soon
broke the advancing column.
...An infantryman fired his
gun, stepped down from the rampart to reload, and was instantly replaced by
another. A witness wrote later of
'...that constant rolling fire, whose tremendous noise resembled rattling peals
of thunder.' One surviving British officer said that the American line looked
like a row of fiery furnaces.
Confusion and terror became
panic... (Roush, p. 35)
The infantry action had
lasted not more than 2 hours... (Roush, p.37).
loss was 2,600...their own
losses were only 7 killed and 6 wounded. (Roush, p.40)
About
the 12th of January, the British evacuated their posts. So ended the war. We were all soon encamped above New Orleans
and remained there until the 12th of March.
Peace
being established, preparations were made for returning home and disbanding the
army. Dreading the long march, I applied to our Colonel [Thomas Williamson,
second Regiment (sworn statement of John Phelps in application for bounty land
due to soldiers of the War of 1812, 23 Nov 1850), source: US Archives] for a
furlough for myself and two others. He
said that he had refused furloughs on the ground that there would be so many
that would want to go. It would be
impossible to get sustenance through the Indian Territory, so it became
necessary, for the welfare of the soldiers, that there should be some system to
provide for their return. I told him
that we had means to provide for ourselves, and that it would be a very great
accommodation to us. He being a
kindhearted man and a friend of mine, gave me the furloughs required but said
he would not give another. He made them
out and handed them to me, and we were soon on the road.
Even though Americans
celebrated, their troubles were not over when the enemy left. The troops had long been exposed to every
kind of weather, and now disease began to take a toll far heavier than the
battle. Mrs. Jackson, arriving in
February, wrote to a friend that nearly a thousand had thus ended. (Roush, p.
41)
[John's
brother Henry died in New Orleans, probably from disease. He was twenty-one years old. John possibly had yellow fever when he went
home and almost died. His mother died
that year, perhaps from the same disease.
Later his father, Richard remarried Patsey Akins, and they named their
first son Henry Akins Phelps (1818-1902).]
We
arrived at home on April 8th, 1815. I
was taken sick on my route, a couple of days before I reached home, and was
confined to my bed on the 10th, and was not able to be out of the house until
the latter part of August. I spent the
balance of the year visiting and feasting with my friends.
Nashville, April 27, l815
I CERTIFY that John Phelps a
private in my
brigade of Tennessee Volunteer
Mounted Gun-men
has performed a tour of duty of
seven months in
the service of the United States
-- that his
conduct, subordination, and valor,
under the
most trying hardships, entitle him
to the
gratitude of his country; and he
is hereby
HONORABLY discharged by his
General.
[signed] John Coffee Brigadier General
[Source: US
Archives]
Company Muster Roll, War of
1812, 2nd Regiment, Thomas Williamson's, Tennessee Volunteer Mounted Gunmen,
Capt. Beverly Williams' Company, for Sept. 28, 1814 to April 27, 1815;
settlement May 2, 1815. Time of service
charged, 7 months, 5 days.
Pay per month, $8.00. Amount of pay, 57 dollars, 33 cents. Travelling allowance for forage and rations
not drawn in kind at 25 cents per day, $1.25.
Traveling allowance for pay of horse from Sept. 28, 1814, to May 2,
1815, at 40 cents per day. 217 days 86
dollars, 80 cents. Amount, 145 dollars,
38 cents [$2144 in 2021]. Remarks: added
5 days travelling allowance for marching to the place of rendezvous. [John was
paid for the time that he was at home recuperating] (source: US Archives,
Washington, DC).
I
was married March 14, 1816, to Sarah Rogan Carlin. I lived on my father's farm that year and
raised a crop. In 1817 I bought a farm
of my own and farmed it one year.
Finding it rather slow process in money-making, I determined to build a
keelboat and go into trade in the rivers.
I rented my farm and, in the winter of 1817, I went to a boat-builder,
got patterns and commenced getting out timbers.
In the month of February, I went to see a friend living on the
Cumberland River, to purchase timber enough to build a boat. He told me he would not sell me the timber
but would give me enough for that purpose.
I thanked him for his generosity.
I
returned home, gathered up the necessary tools and patterns, and set out on
foot -- a distance fifteen miles -- carrying a broad and narrow axe, square and
patterns. On my arrival I selected a
white oak, three and a half feet in diameter, chopped it down and hewed it
square so that it would be sawed into planks, by means of a whipsaw. I then hired two Negroes who were accustomed
to that kind of work. We soon had a
stock pitted. They commenced sawing and
I prepared another stock. The work went
on rapidly and, in a few days, we had all the timbers in the boat yard. This being done, I wrote to the boat-builder
or ship carpenter who had agreed, when I had all the timber out, to come and
fit the timber and place on stock and show me how to plank and finish the
boat. On his arrival he pronounced the
timber first rate. He soon had the keel
set on blocks and the model of the boat complete. He then put on two streaks of planks, showed
myself and hands how to plank and calk the boat, and left for home. We soon got the proper idea and practice. Our work progressed rapidly, and by the first
of June the boat was done.
This
consumed all my surplus means. I owned
the boat but had nothing to load it with.
I knew of several large distilleries in Sumner County, not far from
where I built the boat. I concluded to
go and see them and buy a load of whiskey on credit. I found no difficulty in consummating a
contract on six months' credit. I then
hired my hands and in a few days my boat was loaded.
All
things being in readiness, we set out for St. Louis on the 18th of June
1818. This was my first adventure on a
trading expedition. Every one of us were
what was then called "green horns" by boat men. None of us had ever been on a trip on a boat,
but, as our course was down stream, we found little difficulty in keeping with
the current.
In
about ten days we arrived at Smithland, at the mouth of the Cumberland. There we stopped to buy setting poles and
rope for cordelle to ascend the Mississippi.
We again set out on the broad waters of the Ohio. We glided down that stream to its junction
with the Mississippi. We landed and made
preparations for ascending that rapid and turbid stream. We started around the point and met the
current.
None
of us had ever pushed a boat with a pole, and there was no system. We made desperate attempts but to no affect,
for we could not move her against the current.
We all became exhausted, and the boat began to fall back; the water was
not more than three feet on the bar. I
ordered all hands to jump out and hold the boat and keep her from floating
below the point. I then put some hands
to the bow line. They pulled and the
others shoved, and by that means we passed over the bar.
We
were five days getting to Tywapity Bottoms, a distance of twenty-five
miles. I there hired two old boat hands,
who said it would be impossible to take the boat to St. Louis without rigging a
mast to cordelle by, so all hands went to work to put it up. As soon as the work was done, we started out
with much better success. We made an
average of fifteen miles a day. When we
arrived at St. Perivare, we stopped a few days, tried to sell, and went out to
the Potosi lead mines. We did not meet
with any success.
On
my return I again started for St. Louis and arrived there in four or five days
but found whiskey a dull sale. There I
met a gentleman from Kentucky, with a boatload of whiskey. He told me he had not found a market for much
of his but said he had understood that at the Fort at Prairie Du Chien we could
find sale for all we had at very high prices; that it was bought by the Indian
traders at that place. Upon
consultation, we agreed to put both our loads in one boat, join our forces and
go to the Fort. But we were told that
the trip would be impracticable, owing to the fact that there were two rapids
on the Mississippi which would be impossible to cross. This information stopped the expedition. I rented the ferry at St. Louis and moved my
boat
on the Illinois side. I found better
sale for my whiskey, as much of it was bought for the interior of the
state. I gave $180.00 per month rent for
the ferry and found it very profitable.
My prospects began to brighten.
There was great emigration to Missouri from Virginia, Kentucky, and
Tennessee. I employed three hands at all
they could do at high rates. I, also,
bought all beef hides from the butchers and two thousand deer skins from a
Rocky Mountain trader, partly loaded my boat and sent her back to Tennessee. I stayed and attended to the ferry and the
sale of liquor.
In
the fall I gave up the ferry and returned home, after having made a prosperous
trip, clearing about $1500.00 in six months [$30,000 in 2021]. Thus ended my first enterprise in 1818.
I
bought three Negroes and went on my farm in 1819. I raised a large crop of tobacco that
year. After it was all secure in the
barn, I again set out on horseback to visit the Missouri lead mines, to see if
I could make a purchase of lead to my advantage or find anything else to invest
in. I was pretty well equipped, being
dressed much after the fashion of a brainless fop, with my ruffles protruding
out of my bosom from four to six inches, well starched and crimped in the
fantastic style.
I
stopped at a tavern at night, and ordered my horse put up and well fed. I wanted a room by myself, with a fireplace
in the same, and wished a fire made in the morning to get up by. The old gray-headed landlord said I should be
accommodated according to my wishes. I
was ushered into my room, which had a warm fire. Supper was soon ready, and all things bid
fair for a good night's rest. Travelers
began to come in but there seemed to be ample provision for all. They all mingled together in a large sitting
room. They all mingled together in a
large sitting room. They all got up early
in the morning. I heard them settling
their bills --$.75 for man and horse, $1.00 for man and span of horses. These charges seemed to me to be reasonable. The old landlord had a fire made in my
room. I got up, told him I wished
breakfast before I started and that I should like to have fried chicken, if
convenient. He said, "all right,
sir, you shall have it according to order". After I had eaten, I called for my horse,
which was brought out and saddled. I
called for my bill. The old gentleman made
some preliminary remarks by saying that when gentlemen put up with him -- that
cared more for comfort than money -- he endeavored to make it as comfortable as
possible and charged them accordingly.
"Your bill, sir, is two dollars and a half." [about $50 in
2021 money]. The money was handed him, as the Frenchman would say, with much
"sang froid". Though it
lightened my purse, it reached my vanity and before I was fairly out of sight,
I might have been seen shoving my ruffles to one side into my bosom. I performed my journey without ever having
another terrible bill to pay, and the old man taught me a lesson -- that vanity
was an unprofitable stock to deal in.
I
returned home late in the fall, without accomplishing anything. During the winter, the farmers held a meeting
to appoint a suitable man to freight their tobacco to New Orleans and sell it
for them. The situation was given to
me. I willingly accepted their offer, which
was to give me $1.00 per one hundred pounds for freighting and selling -- they
paying all other charges. I bought two
boats of sufficient capacity to carry sixty hogsheads, each. I set out for New Orleans sometime in March
and was about thirty-five days in reaching there. I soon sold out and got 25% per hundred more
than any person from our section of the country. This advantage was gained by there being a
ship almost loaded and my two loads would complete the cargo. I held it 25 cents higher than the market
proved to be, and in order to get ready to put to sea they paid me my price.
I
returned home, I believe, in the monthly of July 1820. On my return I bought a stock of goods, made
preparations to move to Arkansas in the fall and bought a boat and set out with
my family and goods about the first of December.
I
arrived at Cape Girardeau on the 26th of December and hired teams to haul my
goods to a little village called Currenton, on the Current River. On my arrival I soon had my goods open but
found business dull. I was disappointed
in my expectations, for the country was sparsely settled and no enterprise
among the people whatever. There were no
markets; if there had been, there was but little to sell. I sold my goods on a credit, which I ought
not to have done.
In
the months of July and August my family all took sick and my father, hearing of
our unpleasant situation, came and moved my family back to Tennessee. I remained there to settle up my business and
dispose of the balance of my goods. To
expedite or increase my sales, I advertised that I would sell goods and take
beef, cattle, horses, and hogs in payment.
This notice increased my business.
I commenced building boats to take my stock to New Orleans. I had three completed in December and soon
had them loaded, and on the way to the lower country. I placed them in charge of my clerk, with
instructions to lay out all the proceeds in dry goods and groceries. I also boxed up the remnants of my unsold
goods and put them on the boat to be taken back to Tennessee. Thus ended my Arkansas expedition, with a loss
of several thousand dollars [$42,000 value in 2021].
This
was in the years 1820 and 1821. All
things being closed, I bought a horse and left for Tennessee. On my arrival I expected to hear from my
clerk who had the boats in charge. Three
or four months passed and no tidings from him.
I began to think that all was lost, but I was not kept in this
unpleasant suspense much longer, for, in a few days, he arrived with the
gratifying news that they had sold out the stock at good and remunerative
prices, that he had laid out the proceeds as directed, and the goods were
landed safely in a warehouse in Cairo, on the Cumberland River.
The
next object was to look up a place to commence business. I went to Hartsville, Sumner County,
Tennessee, rented a room or a store and soon had the goods open. Business was good and my prospects
brightened. I sold a large amount of
goods at a fine profit. I continued the
business, with the same results. In the spring of 1823, I formed a
co-partnership with my clerk, Francis Duffy [a relative of his wife]. Our business still increased. We bought tobacco and shipped to New Orleans
and did well. In the winter of 1824, we
bought tobacco again and cleared about $2,000.00 on the purchase [$47,000 value
in 2021]. This, with the profit on our
goods, gave us means to extend our business largely.
In
the fall of 1825, we received a letter from our commission merchant in New
Orleans, stating to us that they wished us to purchase $40,000 .00 [$1,020,000
worth in 2021] worth of tobacco on joint account and draw on them at ninety
days for $20,000 [$535,000 worth in 2021], at the same time limiting us not to
exceed $4.00 per hundred. We immediately
wrote them that we would accept their proposition. In a short time, we received another letter
from them, stating that we should hurry and purchase as fast as possible, as
they had no doubt tobacco would maintain last year's price, if not exceed
it. This seemed somewhat discretionary
with us as to what prices to pay for tobacco, as tobacco had ranged from six to
ten dollars last year. We being anxious
to get all we could, appointed agents to assist us in the purchase in different
counties and authorizing that they might give $5.00 per hundred. In less than ten days we had about seven hundred
thousand pounds of tobacco on hand, but no sooner had we closed our purchase
than we received another letter from them, stating that if we had not
purchased, not to do it, for tobacco had declined in price in Europe and that
if we purchased, we would lose money.
This unfavorable news, coupled with having transcended their limits,
caused us to see where we stood with the whole amount on hand. We had drawn on them for $5,000.00 [$134,000
value in 2021] at ninety days and discounted the draft in the bank at
Nashville. Tobacco began to pour in upon
us. Our money began to run short. We began to pay only a part and give our
notes for the balance. Pressed upon all
sides, it became necessary for me to take a boat at Nashville and go as
speedily as possible to New Orleans and make some arrangements for money to
send forward for our pressing necessities and stay there and sell as fast as
the tobacco arrived.
I
left home in February 1826. On my
arrival I went to see those commission merchants who had led us to this
unfortunate speculation. I told them
they must lend me some assistance. Their
reply was that they could not assist me to a dollar. This caused some unpleasant feelings with
me. I tried to make other arrangements
to get money, but without the least success.
Every description of produce had fallen to the lowest possible
point. Tobacco was selling from $2.00 to
$5.00 per hundred pounds and still on the decline. Cotton was selling from eight to eight and a
half cents per pound. A great revolution
seemed evident. My tobacco began to
arrive slowly, prices still receding. I
still held that I would not sell at those ruinous prices. The draft we had drawn on our commission
house was about maturing and there were no good feelings between the commission
merchant, who had accepted our draft, and myself. These things all tended to make me
uncomfortable. I finally received notice
from them that my draft would fall due on a certain day. This gave me additional trouble. Little of my tobacco had arrived; not enough
to half meet the draft. I had become
acquainted with a wholesale merchant from Philadelphia, who had invited me to
spend my leisure hours at his store as we had become quite intimate. After I received the notice I called at his
store, looking, no doubt, very gloomy.
He inquired if I was unwell. I
told him that I was not. He said I did
no look as lively as common. I replied
that there was nothing the matter with me save the want of money. He said if that was all, he had plenty and
that I need not look so sad. There were
quite a number in the store at the time.
He, Mr. Charles S. Olden, afterwards Governor of New Jersey, beckoned me
to his counting room. He asked me if I was jesting about needing money, and I
told him that I had spoken in a joke, but it was, nevertheless, true. He told me that he had money in the bank that
was doing him no good, that it would afford him a pleasure to accommodate
me. I thanked him and said I would try
and do without borrowing until I would make sale of my tobacco. He said there was no necessity for that and
insisted upon knowing what amount I needed.
I told him $5,000.00. I had drawn
upon a house and the draft was about due.
He turned to his check book, drew a check for the amount and handed it
to me. I looked at it to see if it was
all right, but still thought he was playing a joke on me, as we had been quite
familiar; but thinking he should not get the start of me, I handed the check
back to him, saying: "My friend, I have always heard it said -- one good
turn deserves another. Will you be so
kind as to have it cashed?"
"Certainly, sir," was his reply. He called one of his clerks and told him to
go to the bank and bring the money. The
money was soon handed over to me. Such
an act of magnanimous confidence I had never met with before, nor have I
since. The many acts of disinterested
kindness and attention that I received from him will ever be remembered with
gratitude.
My
tobacco was arriving, and the price was still receding. It now became impossible to sell at more than
8-3/4, 2-3/4 and 3-3/4 for the best quality.
I sold two hundred and sixteen hogsheads at this ruinous price. To pay freight and to refund the money, I
borrowed of my friend, C.S. Olden. I
noticed from the prices current in Philadelphia that tobacco was bringing from
$2.50 to $5.00. I shipped one hundred
hogsheads to that market. Dr. Allen Hile
I sent on as agent. I was to follow with
one hundred and fifty hogsheads more as soon as all my tobacco arrived from the
upper country, which was expected in ten or fifteen days. I was, therefore, delayed two months longer
than I expected. I soon had it shipped
to Philadelphia.
Having
nothing more to look after, I engaged my passage on the ship
"Amelia", bound for New York.
Before leaving my friend, C.S. Olden, he inquired into the magnitude of
my wardrobe. I told him I had sufficient
to take me around. He stated that I
might be a long time on the route, and he insisted that I should take a couple
dozen shirts, which he brought down to the ship to me. He said that when I finished with them, I
could leave them at his store in Philadelphia.
I accepted for fear of offending him.
We
left New Orleans on the 12th of June and landed at Sandy Hook on the 1st day of
July. We were quarantined three days. I
gave bonds not to enter the city. We
were landed on Staten Island and took passage for Philadelphia and arrived
there the 2nd day of July. My agent, Dr.
Hile, had sold the one hundred hogsheads of tobacco at $2.50, and some few
choice hogsheads at from $5.00 to $6.00 per hundred. The other one hundred and fifty I sold at
similar prices. I here received letters
from my partner that if I did not remit money soon all would be lost. There were many judgements against us. There would still be heavy accounts that we
could not provide for, so I concluded, as a gambler would say, to risk all on a
single turn of the wheel, that I would lay out every dollar in my possession in
merchandise, so we might be able to pay our debts, but to pay the money we
could not. Consequently, I made the
purchase and quite a large amount on credit.
I reserved only enough money for freight and charges. I had the goods loaded on wagons for
Pittsburgh. Dr. Hile and myself left by
stage for the same place.
Arriving
there, I took a boat for home, leaving my friend to pay freights and to attend
to shipping the goods to Louisville, where they were to remain till further
orders from me. On my arrival at home, I
found everything in a most confused condition.
Creditors flocked in from all quarters for their pay, which had been so
long delayed. I submitted this
proposition to them -- that they should select three good business men; we
would render a schedule of the amount due us by note or book account, together
with all the invoice goods that we had coming; that if such committee should
report that we had sufficient means to pay our debts by giving us one year's
time, they should do so, but, otherwise, if it was found that our assets were
insufficient, then they should take the notes, accounts and goods and divide
the sum, according to ratio, and give up our paper. This proposition seemed to meet with
favor. It in some degree restored
confidence, and the excitement seemed to die away. They all promised to give the time required
without going into the examination, so the matter rested for a time. But there was a judgement against us for
about $3,000.00, which had to be met in a short time. I proposed to go to Nashville and make
arrangements to raise that amount. My
partner said I could not raise a dollar, but, disregarding his opinions, I
went. I met with a wholesale merchant
from whom I had been in the habit of buying goods. I told him my situation and that I had a
large stock of selected goods on the way from Philadelphia and wished to sell
him some of them to raise money which we were compelled to have. He asked my terms and I told him he would
have $3,000.00 worth at 10% on original cost.
He said he would take the goods at that rate and gave me $500.00, which
I was compelled to have. I was to write
him a note on the arrival of the goods and wrote to Dr. Hile to send them as
soon as possible. When they arrived, I wrote
to the merchant, Matthew Wheaton, of Nashville, to come and make his selections.
In a few days he was on hand; bought $2,700.00 worth and paid for them. This in turn made things a little
easier. We were able to pay off the
judgements against us; we sold goods rapidly, which gave us quite a relief as
we paid many of our goods for debts.
Things
took an upward turn, but I was not satisfied with the manner in which business
was conducted during my absence of the last seven months. I proposed a dissolution of our
co-partnership which was done, but we were jointly bound for all of our old
debts. We both continued to pay them as
fast as we could, each taking receipts for the amount paid by him.
During
the fall of 1826 and 1827 I again bought a boatload of tobacco of my customers,
yet many of our old debts remained unpaid.
In the spring of 1827, our creditors became more urgent for their pay,
and, forgetting their former agreement with us to wait one year, began to sue
us again. Finding I had no other
alternative to save myself from ruin, I wrote a letter to Messrs. Newkirk &
Olden of Philadelphia, to whom we owed $2800.00 for goods purchased of them,
that if they did no come or send their claim against us, they would lose money
by us and we could not help it; if they would come, I would secure them. In two or three weeks their agent arrived
with a letter to me, to secure them in any way I might their best for our
mutual interest. I closed the store and
took an invoice of the goods. This caused
many conjectures. Not even my old
partner knew what I was doing. Some thought
that the stranger had bought me out. We
kept our own secrets. In a few days we
finished our labors. A deed of trust was
made out and signed, all the goods, books, etc., turned over to Newkirk &
Olden. They appointed me their agent to
sell the goods, it was, also, agreed that I might pay off some of my old debts
with goods, provided such payment did not interfere with their interests. Thus ended the speculation of 1825.
I
had sent a boatload of tobacco to New Orleans but had no returns from it when
this deed of trust was given. In
justification of what I had done and the causes which led to it, will be seen
the following circular:
To
the Public
The
house of Phelps and Duffy, of Hartville, of which I was a partner, purchased in
1825 a large quantity of cotton and tobacco, by which transaction we lost
upwards of $18,000.00 [$481,000 value in 2021]. In consequence of this immense
loss, we have not been able to meet many of our engagements with that
punctuality which had previously marked our course in business, and many of our
creditors have been necessarily compelled to wait longer for their money than
they expected to have done when we made our purchase. By the most indefatigable exertions, we have
succeeded at length in paying all but a comparatively small part of our
debts. Yet this part, small as it is,
must be paid. Our creditors expect it,
and we make no other calculation. Yet,
with regret, I inform them that they will be necessarily obliged to wait still
longer. We found it necessary last year
to purchase a considerable quantity of goods in Philadelphia on credit, for the
purpose of paying our debts here and had no doubt at that time that we should
be able to purchase a sufficient quantity of Products to pay for them. In this we have been disappointed. The people to whom we paid a high price for
produce and who (if any people) should have felt themselves under obligations
to us, were, with few exceptions, the first, after receiving their money, to
turn their backs upon us and, in almost every instance, preferred selling to
anybody else. Had our conduct at any
time been such as to justify them in their course toward us or had we at any
time given them cause to lose confidence in us, we would have submitted to our
fate without murmur, but no such cause can be shown. I am sensible that I have been censured by
some for with-holding the proceeds of our tobacco and laying it out in
goods. To any reasonable man who had an
idea of our situation, this matter would need no explanation. Yet there are some people in every community
who, either from ignorance of design, can never be convinced of anything
contrary to their interest or their feelings. To such, I have only to say I
despise them and their opinions and inform them I write not for them. It is to people of a different character I
address myself, and with them I hope to be able to justify the course I have
pursued throughout the whole transaction, which has involved me in my
unfortunate situation.
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