George Washington: Farmer: Being an Account of His Home Life and Agricultural ActivitiesHaworth, Paul Leland
History
George Washington: Farmer: Being an Account of His Home Life and Agricultural Activities
Haworth, Paul Leland
Mount Vernon (Va. : Estate); Washington, George, 1732-1799 -- Homes and haunts -- Virginia -- Mount Vernon (Estate)
The depreciation of the paper currency during the Revolution proved
disastrous to him in several ways. When the war broke out much of the
money he had obtained by marriage was loaned out on bond, or, as we
would say to-day, on mortgage. "I am now receiving," he soon wrote, "a
shilling in the pound in discharge of Bonds which ought to have been
paid me, & would have been realized before I left Virginia, but for my
indulgences to the debtors." In 1778 he said that six or seven thousand
pounds that he had in bonds upon interest had been paid in depreciated
paper, so that the real value was now reduced to as many hundreds. Some
of the paper money that came into his hands he invested in government
securities, and at least ten thousand pounds of these in Virginia money
were ultimately funded by the federal government for six thousand two
hundred and forty-six dollars in three and six per cent. bonds.
And yet, by examining Washington's accounts, one is able to estimate in
a rough way the returns he received from his estate, landed and
otherwise. We find that in ten months of 1759 he took in £1,839; from
January 1, 1760, to January 10, 1761, about £2,535; in 1772, £3,213;
from August 3, 1775, to August 30, 1776, £2,119; in 1786, £2,025; in
1791, about £2,025. Included in some of these entries, particularly the
earlier ones, are payments of interest and principal on his wife's share
of the Custis estate. Of the later ones, that for 1786--a bad farming
year--includes rentals on more than a score of parcels of land amounting
to £282.15, £25 rental on his fishery, payments for flour, stud
fees, etc.
Upon the average, therefore, I am inclined to believe that his annual
receipts were roughly in the neighborhood of ten thousand dollars to
fifteen thousand dollars a year from his estate.
As regards Mount Vernon alone, he sometimes made estimates of what the
crop returns ought to be; in other words, counted his chickens before
they were hatched. Thus in 1789 he drew up alternative plans and
estimated that one of these, if adopted, ought to produce crops worth a
gross of £3,091, another £3,831, and a third £4,449, but that from these
sums £1,357, £1,394 and £1,445 respectively would have to be deducted
for seed, food for man and beasts, and other expenses.
A much better idea of the financial returns from his home estate can be
obtained from his actual balances of gain and loss. One of these, namely
for 1798, which was a poor year, was as follows:
BALANCE OF GAIN AND LOSS, 1798
DR. GAINED CR. LOST
Public-domain text, read in full here on John Shaqi.
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