[The Age of Invention by Holland Thompson]@TWC D-Link book
The Age of Invention

CHAPTER II
20/28

"We get but a song for it," wrote Whitney, "in comparison with the worth of the thing, but it is securing something." Why the partners were willing to take so small a sum was later explained by Miller.

They valued the rights for South Carolina at two hundred thousand dollars, but, since the patent law was being infringed with impunity, they were willing to take half that amount; "and had flattered themselves," wrote Miller, "that a sense of dignity and justice on the part of that honorable body [the Legislature] would not have countenanced an offer of a less sum than one hundred thousand dollars.

Finding themselves, however, to be mistaken in this opinion, and entertaining a belief that the failure of such negotiation, after it commenced, would have a tendency to diminish the prospect, already doubtful, of enforcing the Patent Law, it was concluded to be best under existing circumstances to accept the very inadequate sum of fifty thousand dollars offered by the Legislature and thereby relinquish and entirely abandon three-fourths of the actual value of the property." But even the fifty thousand dollars was not collected without difficulty.

South Carolina suspended the contract, after paying twenty thousand dollars, and sued Miller and Whitney for recovery of the sum paid, on the ground that the partners had not complied with the conditions.

Whitney succeeded, in 1805, in getting the Legislature to reinstate the contract and pay him the remainder of the money.


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