The PBS statement that TJ's charity broke him is ridiculous. In no way did
his charities sink him. Jefferson's financial picture was very complicated
and hard to summarize briefly. He wrote everything down, and never added
anything up: "For tho' I kept such exact entries in my daily memorandum book
as would enable me, or anybody else, to state the account accurately in a
day, yet I had never collected the items, or formed them into an account,
till within these few days."  He successfully juggled creditors for his
entire adult life.  He inherited great wealth from his father-in-law, John
Wayles, and a manageable debt, which he mismanaged--he also got caught in
the collapse of Continental currency and was too honest to wiggle out of
paying, as others did. A creditor told Jefferson that he was one of just
three "respectable" names who had agreed to make payments on their debts;
the rest were welching. The interest on his debts was crushing. But his
debts never stopped him from doing anything. He entertained lavishly at the
White House because he enjoyed doing it and because he believed it to be
politically important. He built Monticello--twice; then he built Poplar
Forest; then he invested many thousands building a mill and canal at
Shadwell. Well aware of his position, he remained an optimist. As he wrote
to his daughter Martha, on January 5, 1808, in response to her letter
detailing the financial calamities in her husband's family: "I have now the
gloomy prospect of retiring from office loaded with serious debts, which
will materially affect the tranquility of my retirement. However, not being
apt to deject myself with evils before they happen, I nourish the hope of
getting along."  Don't we all.

Henry Wiencek