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Good Wheat

29 Nov 1820

My Dear Friend,

When good wheat sells in Albany for 56 cents per bushel and pork for $2.50 per hundred, what is land worth! Nothing, but to him who holds the plough, and he must be successful if at the end of the year the balance be not against him. Under such circumstances, what can be dug or raised from the earth in Col. [unreadable]. By [Trusts] to pay the principal and interest of $50,000 in ten years! Boards if taken to Baltimore will not pay the Sawyer and raftsman and if the farmer takes his wheat or pork to Albany or New York he must go to bed supperless to save enough out of the proceeds of his farm to purchase a felt hat. How can he pay for a farm? He cannot, and you may every five years foreclose your mortgage and take your farm back. But the times may change so they may, when the Lord in his wrath shall blast the harvests in Europe, or suffer the nations in that part of the globe, to engage in wars for a prostituted Queen or debauched King. But when shall these things be! Until they shall happen, the only safe course is not to contract new debts; but try to pay off old ones. I could hardly be tempted to make [Mrs. Laight] an offer for the property which she wishes to sell, for the probability is, that the difficulty to raise money will continue to increase, and lands to decrease in value for some years, and it is wholly out of my power [to] satisfy myself, to what degree of depression real estate must depend. As you and [he] are both interested in those lands why not go before the Rev Doctor Mason and unite your interests? You want a wife and she probably would not be unwilling to have a husband. I once gave a letter of hers and that satisfied me that she possessed no ordinary mind. You are on the spot and can judge of the graces of [her] person. If she does answer all the qualifications which you demand in a wife, collect all the marriageable ladies in New York into one large room and take you choice of them. I have no doubt that most of them would most readily purchase a ticket in a lottery in which all the prizes were husbands, than in literature [lotting No: 4?]

Gerrit appears to enjoy glass making and to consider that as the only mode of making money during the hard times. I hope he may [unreadable] no more Brown's as purchasers.

I am My Dear Friend
Yours Sincerely
Daniel Cady

Hon Peter Smith-

Johnstown 29 Nov 1820