122 Regent St
Feby 2. 1848
To H F Talbot Esqr
I must apologise for having taken so much time for the consideration of your proposal. – <1>
A difference of opinion among my friends caused the delay. –
That the Talbotype process will ultimately supersed [sic] the Daguerreotype is I believe generally admitted
The eulogiums recently passed upon the paper process – in France – is encouraging. With these ideas in view Mr Henneman and myself have confered [sic] together on the subject of your proposal & beg to thank you for your consideration & liberality in making us the first offer. –
We need not remind you that the business is not answering at present – it generally takes some time to establish a business of any kind. A great deal depends on forming a connection – we think it probable our expenditure for the next twelve months will exceed our receipts at all events we should be prepared for such a result – this can be done only by your advancing a sum of money as you propose. –
If at the end of twelve months you resolve to withdraw your aid we should commence the second year trusting to an increase of business – should this second year seem to be as unsuccessful as the first what is to be done?
We must return the stock & furniture to you having done our best & failed (– not that I anticipate such a result but we must always prepare for an emergency.) – We must ask you to exonerate us from the thousand pounds also from money advanced indeed from every liability incurred in the business –
If the establishment is doing but little there would be no bills for chemicals or cases to any great amount. –
I we are aware that this is a very delicate subject because it would seem we wish it all our own way & some persons under the circumstances would be careless as they might be when receiving regular salaries. The desire of being independent by paying off the thousand pounds would I am sure stimulate us to exert ourselves – indeed carelessness could not last long for you of course would close the Establishment by withdrawing the means required.
You will pardon
my our speaking so plain it is a subject on which there should be no misunderstanding or concealment. – The whole of this letter has been dictated by prudence more than by fear of the result. –
There are many minor arrangements
I we have not mentioned as I we thought it would only confuse the subject.
We remain Sir your most obedient Servts
T A Malone