Subject: Depressions
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A two-page business letter written by Henry Tobias in Liverpool, England, on March 31, 1837, to Thomas Peck. Sent via the packet ship "George Washington," the letter discusses the failures of houses in America within the context of the Panic of 1837.

A one-page stampless letter written by S. S. Thornton in Manchester, England, to Henry Tobias in New York City on July 15, 1837. The letter inquires about Henry Tobias's departure from Mr. P (possibly Peck) amidst the Panic of 1837.