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January 20, 1970
Dear Mr. Bernstein:
After some many months of silence, I am finally writing to you for help.
My problem is this. In 1968, 1969, and probably in 1970 (1971 is probable) I earned each year approximately $100,000.
My problem is that first I would like to hold on to this money, and secondly, realizing that I will not always be able to make speeches at $1,000 a shot, would like to invest it so that I can have some income in the lean years.
I don't believe I will ever have any salaried work that will ever approximate $100,000 annually, but I'd like to be able to enjoy a standard of living at near that level.
You must believe me (as few of the people I ask for help do) that I am absolutely ignorant of all money matters, taxes and so on.
I have an offer for investment help from Marty Peretz in Cambridge, whom you may know. I have 5% interest in five fast food outlets her in Atlanta. I have 100 shares of stock in a company known as BESI which will sell franchises in black-oriented bookstores, and I have a 20% ownership in a consulting firm, Frontiers Unlimited, Incorporated of Atlanta which is currently being investigated by the Justice Department.
My only steady income is $4,200 a year from the Georgia House of Representatives which has to be renewed by the people every two years.
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Mr. Dan Bernstein page 2
I completely own a car, and am buying a house (I paid $7,000 down, have a ten-year not for $10,000, and am spending about $8,000 for repairs and rehabilitation).
I have five children, a wife, and want to be happy in the rest of my life.
My accountant's name is W.E. Richardson, C.P.A., 859-1/2 Hunter Street, N.W., Atlanta, Georgia 30314 if you want to find out more exact details than I am able to supply you with.
Can you tell me what to do with what I have?
Sincerely,
Julian Bond
Mr. Dan Bernstein P.O. Box 657 Scarsdale, New York