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The Panic of 1837
A receipt for the sale of thirty bales of cotton sold on behalf of Aaron Spell, February 9, 1840.

A receipt for the sale of thirty bales of cotton sold on behalf of Aaron Spell, February 9, 1840.

This document and the preceding document are receipts for cotton sold on behalf of cotton planter Aaron Spell on two separate occasions, one before the panic, in 1836, and one during the panic, in 1840. The numbers in columns on this receipt represent the weight of each of the thirty bales of cotton. The total weight is then multiplied by the price paid per pound of cotton, in this case seven and a half cents per pound. The notes at the bottom of the receipt detail additional charges deducted from the total sale price, such as shipping, storage, insurance, and broker’s fees. This receipt also includes a short note to Mr. Spell added by the cotton broker, Mr. Mount.

Transcription:

Account Sales of 30 Bales Cotton received by Steamer Vicksburg, from Manchester, Miss from Charles & Mount Esqs. and sold for account and risk of Mr. Aaron Spell of Holmes County, Mississippi --

1840

Feb[[object Object]]y 3 Sold to Kohn, Daron & Co. [[object Object]] Schmidt and Holland, Brokers

A.S. 30 Bales, weighing

[[object Object]]

427

386

445

418

418

445

461

420

427

412

Sum of column 1: 4259

[[object Object]]

375

410

422

407

472

406

396

410

386

397

Sum of column 2: 4081

[[object Object]]

382

410

395

420

394

413

423

422

365

394

Sum of column 3: 4018

Total weight: 4259 [[object Object]] 4081 [[object Object]] 4018 [[object Object]] 12358 @ 7 ½ ¢ [[object Object]] $926.85

Charges

P[[object Object]]d Freight on above at $2 per Bale...$60

[[object Object]] River Insurance, valued $1200 @ 1% + pol: 75¢...12.75

[[object Object]] Weighing 10¢ per Bale...3.00

[[object Object]] Drayage @ 12½ ¢ [[object Object]]...3.75

[[object Object]] Brokerage for selling ¼% on $926.85...2.32 [[object Object]] 81.82

[[object Object]] $845.03

Errors Accepted, New Orleans, 4 Feb[[object Object]]y 1840

A.M. Nathan

[[object Object]]

Mr. A. Spell

1840 4 Feb[[object Object]]y

In Acct. With A.M. Nathan

By [[object Object]] of 30 Bl Cotton...$845.03

less paid [[object Object]] bill charges to C.E. Mount... 18.00

[[object Object]] $827.03

Eight hundred and twenty seven 03/100 Dollars

To his credit in acct.

New Orleans, 4th Feb[[object Object]]y 1840

A.M. Nathan

Dear Sir,

Have just returned from New Orleans and have seen Mr. Nathan who expects you to send him forty bales more, I assured him you would do all you could, and he has given me a regular power of attorney & I am fully authorised to give you any instruction you may [[object Object]].

You will see your cotton only sold for 7 ½ ¢, I sold mine at the same. It is still declining - if you have any in store let me know if any to send down, do it forth-with, as it will decline further. Do you know Mr. Coates’ intentions?

Sincerely y[[object Object]]r fr[[object Object]]d,

[[object Object]] Mount

[[object Object]] 9th Feb[[object Object]]y 1840

P.S. I enclose your [[object Object]] I paid [[object Object]] before I could get the cotton.

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Citation Information
Mount, Charles E. “Aaron Spell Account 30 Bales Cotton, 1840,” Digital Public Library of America, https://dp.la/item/a5a98e4c4d6db894eda092f40b304926.
Note: These citations are programmatically generated and may be incomplete.
Courtesy of Mississippi State University Libraries via Digital Library of Georgia.

Tips for Students

For this source, consider:

  • the author's point of view
  • the author's purpose
  • historical context
  • audience

Item 11 of 12 in the Primary Source Set The Panic of 1837

Previous ItemNext Item
A letter from the cashier at Mohawk Bank in Schenectady, New York to William Hayes about a deposit to his account, 1834.
A five-dollar bill issued by Kirtland Safety Society Bank of Kirtland, Ohio, 1837.
A revolving table tool designed to calculate interest rates, 1839.
An excerpt from Sylvester's Bank Note and Exchange Manual, 1833
Excerpts from The Pocket Cambist, a guide for exchanging currency between countries, 1836.
A political cartoon representing negative public opinion and political opposition to the agenda of President Andrew Jackson, circa 1832.
A political cartoon issued in July 1837 that depicts a New York City street scene demonstrating the impact of the Panic of 1837.
An excerpt from an 1834 pamphlet with arguments from New York businessmen about effects of removing federal money from the national bank.
An 1841 token alluding to “hard times,” or the Panic of 1837, and targeting the policies of President Van Buren.
A receipt for the sale of twenty four bales of cotton sold on behalf of Aaron Spell, March 25, 1836.
A receipt for the sale of thirty bales of cotton sold on behalf of Aaron Spell, February 9, 1840.
A court document recording the settlement of a debt owed by Lancaster McNay through the transfer of five enslaved women and girls, 1839.

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