Page:History of the University of Pennsylvania - Montgomery (1900).djvu/385

Rh he acquainted the Trustees that some Difficulties arising on the more mature Consideration of the Matter he had communicated to some of the Trustees who were of opinion that it ought to be postponed till it could be better considered, thereupon the Trustees went upon a serious Considera- tion of it and appointed Mr Peters, Mr Chew, & Mr Edward Shippen a Committee to draw up a letter to Mr Thomas Penn to desire leave to make sale thereof and to dispose of the Money arising therefrom in some other way more advantageous to the Academy and to preserve the same Reservations as were in the Deed. The suggestion for an early realization by sale of this gift of realty may not have been welcomed by the Proprietary ; but however that may be he completely dissembled it when he finally wrote them on II August, 1762 : As I have the establishment of the Institution very much at heart, and am truly sensible that the constant attention and care with which you have executed your Trust has under the Blessing of the Almighty raised the reputation of the College and Academy very high, and so as to answer all the good Purposes at first intended, it is a great Satisfaction to me to assist in promoting so good a Work, and I wish to do it in such a Manner as shall be most agreeable to yourselves, provided I can be convinced such Method will tend to the real advantage of it considering the future as well as the present Time. This consideration has induced me to defer for so long a time the sending an Answer to your very respectful and obliging Letter, and I have not only waited to consider the proposal you have made myself, but have desired the Sentiments of one or two of my most valuable Friends, and they do also fortify me in my own opinion that it will be most for the Interest of the College to keep the Lands I have granted, as in the common course of things they must, though they should not be taken the best care of, yield much more to those that are to come after us, than the Sum you propose to raise from the Sale of them ; I am therefore under a Necessity of desiring you will not think I act an unkind part when I refuse to comply with your Request. But that the Trustees may not be greatly disappointed I have proposed that we should give Five Hundred Pounds Sterling to the present Collection [now making by Dr. Smith], and if that should not amount to a sum sufficient to answer your Expectations I shall be willing to add a subscription of $o Currency a year, till such time as it is redeemed by a Benefaction of as great value. Dr. Smith's presence in England was helpful to a solution of this matter ; and besides this contribution to the Collection,