Philadelphia, December 23, 1790.
DEAR FRIEND,--I inclose, in two newspapers, the plan of a bank reported by Mr. Hamilton. The late surprising rise of public stock is supposed to be owing in part to this report, because it affords an opportunity to subscribe three fourths paper and one fourth silver into the bank stock. In Holland, we are told, our stock sells above par.
The creditors in this State have sent us a huffing memorial, which I inclose. It came in when the price of debt affords an answer to it. No notice was taken of it. The Senate, I hear, have proposed to answer them by resolving that a revision of the funding act is improper. Please to let Colonel Worthington see the inclosed. I wish to be made use of to furnish any thing from hence that may amuse my Springfield friends. Please to signify as much at that house.
I think the public will be delighted to see the public credit rise, the debt reduced by two hundred and seventy-eight thousand dollars, which cost only one hundred and fifty thousand dollars, and still reducing more. The President has afforded them such evidence of our prosperous condition, as they will not controvert. I scribble in haste for the sake of inclosing the papers by this post. Instead of a letter, which I have not time to write, pray represent me at Colonel Worthington's.
The Senate have just voted, R. Morris only dissenting, in substance as I stated before. I wonder how the petitioners could overcome their Philadelphia modesty so far as to present such a . . . . memorial. You may fill the blank for yourself.
Sedgwick arrived, and took his seat this morning.
Pray let me hear from you. Are you married?
Your friend.
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