To Samuel Meredith
August 28th. 1790
I received your letter of the 21st Instant1 and delayed answering it untill it could be determined whether there would be occasion for your presence here. It being intended that the purchases to be made at New York under “the Act providing for the Reduction of the public Debt”2 shall be effected by the Treasurer of the United States, and it being deemed proper to commence the operation on the first Monday in September next, (the sixth day of that Month) I find it necessary to request your return to the Seat of Government, so early as to admit of three days reflection on the mode of proceeding.
I am Sir very respectfully Your Obedient Servant
During your absence some Bills have been drawn by your Clerk Mr Samuel Anderson, with my permission on the Bank of North America. The receipts for the Cash from the Bank of New York having been first exhibited, the Cashier of the Bank of North America has been requested to pay them.
Samuel Meredith Esquire
Treasurer of the U States.
LS, Ursinus College Library, Collegeville, Pennsylvania.
1. Letter not found.
2. This act provided for the creation of a sinking fund for the purchase of government securities on the open market (1 Stat. description begins The Public Statutes at Large of the United States of America (Boston, 1845). description ends 186–87 [August 12, 1790]). See also “Meeting of the Commissioners of the Sinking Fund,” August 27, 1790.