Papers Of Abraham Lincoln

Promissory Note of Nathaniel Hay to Abraham Lincoln, 2 March 18551

$200–
Springfield March 2. 1855.
On the ninth day of April next I promise to pay A. Lincoln two hundred dollars, with ten per cent interest after due until paid, for value Received2
N Hay.

1An unknown person wrote this handwritten transcription. Abraham Lincoln produced another version of this promissory note in his own hand.

2In April 1849, Nathaniel Hay borrowed $200 from Lincoln. Hay gave Lincoln a promissory note for $200 at six percent interest for the first six months and ten percent thereafter. Over a period of six years, Hay repaid Lincoln with small amounts of cash and in-kind services. Hay also paid Lincoln for legal fees in a number of cases in which Lincoln was his attorney. On this date, Lincoln and Hay settled the debt. Hay gave Lincoln this promissory note and a due-bill for the balance of interest due. Hay died intestate on February 4, 1856, and his brother, Milton Hay, and brother-in-law, Joshua F. Amos, were appointed administrators for his estate. On June 9, 1856 Lincoln filed a claim for $240 against Hay’s estate, amounting to the principal of this promissory note plus interest. Amos paid Lincoln $225 on May 16, 1857, of which Lincoln deposited $200 into his account at the Springfield Marine and Fire Insurance Company.
Lincoln filed claim against Hay’s estate, Martha L. Benner and Cullom Davis et al., eds., The Law Practice of Abraham Lincoln: Complete Documentary Edition, 2d edition (Springfield: Illinois Historic Preservation Agency, 2009), http://www.lawpracticeofabrahamlincoln.org/Details.aspx?case=141352; Sangamon County Record of Letters and Wills, Microfilm Publication, Roll 66, 1855-1857, 3:130-32, Illinois Regional Archives Depository, University of Illinois Springfield; Harry E. Pratt, The Personal Finances of Abraham Lincoln (Springfield, IL: The Abraham Lincoln Association, 1943), 72-73.