As we cannot flatter the creditor Legatees with any considerable collections from those whose purchases exceeded their shares, it has occurred to us that it would be convenient and agreable to the creditors to recieve an assignment of the debts from which they might derive an immediate benefit; indeed this idea has been suggested to us by many of the Creditor legatees.

     With a view to try whether this plan can be carried into execution, we have allotted to each Creditor some debt which comes nearest to the proportion due him without attempting to weigh the comparative abilities & punctuality of the debtors‑so as to favor one creditor more than another. Indeed—it would not be in our power to do this, if we were so inclined, & we consider all the debts as well secured. You will at once percieve that unless the several creditors consent to this proposition, and take the debts as we have respectively allotted them, nothing can be done; because if one of them will undertake to object to it on the ground of his preferring some other debt than that proposed for him; all will do the same thing, & of course that unanimity will be wanted which must form the basis of the transaction. We write to the other creditors counterparts of this letter & shall await your answers; if they contain an unqualified assent to this proposition, we will endeavour to carry it into execution. We are respectfully Yr mo. Ob. Servts

Bushrod Washington

Where the debts paid overrun good Security will be required for the excess which will be assigned to make up deficiencies elsewhere. We do not aim at present at accuracy in the above statements which however are sufficiently so to give you the information necessary for enabling you to come to a decision.