After my return from Philaa I recd your favour of the 9th Octr and soon afterwards as it was in my power, I consulted with Majr Lewis upon the proposition it contained— The delay which has taken place in returning you an answer has not proceeded from an indisposition in us to grant to you & Mr Alexander the indulgence asked for, but from the difficulty of arranging the business in such a way as to render the estate we represent & ourselves individually perfectly secure— That we [s]hould proceed with circumspection in a matter of so much consequence is a duty which we must not lose sight of, & I am well satisfied that neither you or Mr Alexander would wish us to act so as to leave ourselves exposed to censure or to loss.

     It will be our duty to proceed to recover Judgement against you and Mr Alexander on your Bond, that they may remain as securities for the debt, and it would save you both costs & expenses by confesing Judgments, I should think it but for you both to do so, but in this matter you will act as you think best— Majr Lewis & myself have agreed to suspend executions as long as there is a probability of the funds you mention being productive & sufficient. Indeed if Judgments are confessed, we shall have no objection to a Stay for 12 months being entered on the records— Should the debt after the expiration of that period not be paid we shall nevertheless suspend proceeding on the Judgements as long as we see the probability of receiving the money from those sources in any reasonable time, it being our sincere wish to grant every indulgence which is not incompatable with our duty— The bonds & mortgages for the $7000 being duly assigned to me or to Majr Lewis as Executor or Genl Washington, will be received by us as collateral security for the debt, and we shall expect that Mr Alexander will use all proper diligence in collecting the other monies except such as we may consent to delay— This latter observation is caused by a letter which we have recd from Mrs. Stuart asking an indulgence untill the money is received from some land which Mr Lynton & others are authorized (I believe by a decree) to sell.

Presuming that Mr. Alexanders proposal was not intended to induce us to receive the funds mentioned by him as payment (to which we could by no means accede) but mearly as collateral security for the purpose of sheltering as far as may be Colo Lee’s & his property from a forced Sale, the above arrangement will I hope be entirely satisfactory to both of you— It will be necessary for me to hear from you as soon as possible— at all events before February, when my official duties will call me to Washington & will prevent me from attending to private business. With very great regard & the most friendly wishes for your happiness I am my dear Sir sincerely and affecy yours