To Alexander Hamilton from Oliver Wolcott, Junior, 29 May 1793
From Oliver Wolcott, Junior
Treasury Department
Comptroller’s Office May 29th. 1793.
Sir
I have the honor of communicating to you the information which has been received for the subscriptions to the loan payable in the principal and interest of certificates or notes issued by the respective States, and of the amount admitted on loan, under the Acts of August 4th. 17901 and May 8th. 17922
| In certificates of the State of | ||
| New Hampshire | ||
| subscribed under the act of august 4: 1790 | 242,501.14 | |
| do May 8: 1792 | 40,094.37 | |
| Amount admitted on loan | 282,595.51 | |
| Massachusetts | ||
| subscribed under the act of august 4: 1790 | 4,473,851.61 | |
| Amount admitted on loan | 3,981,733.05 | |
| Rhode Island | ||
| subscribed under the act of august 4: 1790 | 344,262.78 | |
| Amount admitted on loan | 200,000. | |
| Connecticut | ||
| subscribed under the act of august 4: 1790 | 1,446,463.16 | |
| do May 8: 1792 | 248,304.94 | |
| Amount admitted on loan | 1,600,000. | |
| New York | ||
| subscribed under the act of august 4: 1790 | 1,107,580.58 | |
| do May 8: 1792 | 76,136.11 | |
| Amount admitted on loan | 1,183,716.69 | |
| New Jersey | ||
| subscribed under the act of august 4: 1790 | 599,182.09 | |
| do May 8: 1792 | 96,033.53 | |
| Amount admitted on loan | 695,215.62 | |
| Pennsylvania | ||
| subscribed under the act of august 4: 1790 | 674,675 | |
| do May 8: 1792 | 103,308.48 | |
| Amount admitted on loan | 777,983.48 |
Subscriptions were also made under the last-mentioned act, of certificates of this State, commonly called New Loan certificates3 to the amount of sixty five thousand two hundred and ten dollars & twenty eight cents, in principal and interest, which however will not be admitted on loan.
No statement has been received of the amount subscribed under the act of May 8: 1792, one however will be shortly transmitted by the Commissioner.4 The delay has been occasioned by the subscription of certificates which had been reissued from the Treasury of the State,5 the admission of which to the loan is not yet determined.
| North Carolina | ||
| subscribed under the act of august 4: 1790 | 1,686,563.18 | |
| do May 8: 1792 | 107,233.22 | |
| Amount admitted on loan | 1,793,796.40 | |
| South Carolina | ||
| subscribed under the act of august 4: 1790 | 4,634,578.52 |
The Commissioner6 has not yet transmitted a Statement of the amount admitted on loan, but it is presumed that the sum assumed has been admitted.
| Georgia | ||
| subscribed under the act of august 4: 1790 | 220,140.33 | |
| do May 8: 1792 | 25,890.40 | |
| Amount admitted on loan | 246,030.737 |
Enclosed are the certificates of the Commissioners of loans for the States of New Hampshire, Massachusetts, Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, North Carolina & Georgia of the amount subscribed and admitted on loan in their offices, from which the above statement is formed.8 The amount subscribed and admitted on loan in the State of Rhode Island is taken from the account of the Commissioner, settled at the Treasury. The subscriptions in the States of Virginia, & South Carolina, are ascertained from communications made by the Commissioners at the close of the year 1791, and the beginning of the year 1792, copies of which are also enclosed.9
You will likewise receive herewith a copy of a letter of the 27th. instant from the Register of the Treasury, & a statement therein referred to, relative to a credit claimed by the State of Pennsylvania—
The auditor of the Treasury10 is causing an examination to be made in his office, whether any further information remains to be given, of charge account or credits in favour of any of the States. The result of the examination will be communicated to you.
I have the honr. to be with the greatest respect Sir etc
The Hon. A. H., Esq.
Secy Treasy
Df, Connecticut Historical Society, Hartford.
1. “An Act making provision for the (payment of the) Debt of the United States” ( 138–44).
2. “An Act supplementary to the act making provision for the Debt of the United States” ( 281–83).
3. For information concerning these certificates, see John Nicholson to H, July 26, 1792, note 1.
4. John Hopkins.
5. See H to Henry Lee, March 22, 1793; Lee to H, April 12, 1793; H to Edmund Randolph, April 30, 1793; Wolcott to H, May 27, 1793.
6. John Neufville.
7. At this point in the draft, the following was written and crossed out: “besides which there was subscribed by the Treasurer of the State under this act, but not admitted on loan by the Commissioner, thirty nine thousand one hundred and nineteen dollars & forty nine Cents.”
8. Copies of these certificates are appended to a statement of the assumed debt prepared by Joseph Nourse, June 12, 1793 (D, RG 53, Register of the Treasury, Estimates and Statements for 1793, Vol. “135–T,” National Archives).
9. Neufville’s letter to the Treasury Department is dated November 5, 1791 (copy, RG 53, Register of the Treasury, Estimates and Statements for 1793, Vol. “135–T,” National Archives). Although Hopkins’s letter has not been found, a copy of his statement, dated June 13, 1793, may be found in RG 53, Register of the Treasury, Estimates and Statements for 1793, Vol. “135–T,” National Archives.
10. Richard Harrison.