Newly discovered letter that George Washington wrote in 1787 hints at money problems

• A historical documents dealer announced the discovery of a long-lost letter from George Washington.
• The 1787 letter shows that the future first president was once hard-pressed for cash.
• The letter, which is now for sale, is valued at $50,000.

A Pennsylvania-based historical documents dealer announced on Sunday the discovery of a long-lost letter from George Washington.

The 1787 letter, which the Raab Collection says was previously unknown to scholars, sheds light on the financial concerns of the future first president, and suggests that Washington was once hard-pressed for cash.

In the letter, Washington wants to sell a 1,644-acre tract of land, called Washington's Bottom, in western Pennsylvania.