To Thomas Willing1
[Philadelphia, April 10–May 31, 1793]
You will receive with this the Draft of an agreement for the loan heretofore arranged2—which if approved I request may be made out into duplicates indented so as to correspond with each other.
You will observe an option to the UStates as to the time of receiving. I understood that this would not be agreeable; but as it has not been formaly objected to it is proper for me to insert it. Should it appear objectionable, it may be struck out—but in this case I shall wish for my justification a line expressive of the objection. I understood it to be that it was not deemed consistent with a due regard to the interest of the Bank to leave the periods of receiving the interest of the money optional as the Bank must in such case hold funds on hand ready to be advanced for an unknown & indefinite term for which it would receive no consideration.
With respect & esteem I am Dr sir Your obed ser
It is proper the instrument should be executed to day.
Thomas Willing Esq
ADfS, anonymous donor.
1. For background to this letter, see H to George Washington, March 18, second letter of March 20, 1793; Washington to H, March 20, 21, 1793; H to the President and Directors of the Bank of the United States, March 26, 1793; H to Rufus King, April 2, 1793; William Bingham to H, April 9, 1793; H to Bingham, April 10, 1793.
2. The draft has not been found. For the final agreement between H and the Bank of the United States, see “Agreement with the President, Directors, and Company of the Bank of the United States,” May 31, 1793.