Alexander Hamilton Papers

To Alexander Hamilton from William Seton, 26 November 1793

From William Seton1

New York 26 Novr. 1793

Dear sir

I took the liberty of writing you a few lines by my friend Mr. Maitland—who this day informs me of your exceeding kind & polite attention to him for which I beg you to accept my most gratefull thanks.

This day United States Bank Shares began to decline & I presume in a day or two I shall be able to purchase for Mr. Church under your Limits of 15 per cent—but it strikes me that as this Stock has lately been as Low in London as £99 to 100 Stg that he may have purchased there. I therefore feel loth to enter into the Market without further orders from you, and at the same time I think you will not blame me for making this further observation; Mr. Church’s circumstances and responsibility I am totally ignorant of, £10,000 is a very large Sum to run the risk of even a 20 per Cent damages upon; now My dear sir for you or under your absolute guarantee of course I would commit myself for any Sum; but I must confess to you sincerely that unless I had you to look to, I should deem myself unjustifiable to my family to enter into this Negotiation. You I am sure esteem me too much, not to excuse my plain honesty on this point. Exchange is 5 per Cent above par & I believe during this week the price of Shares will be 12½ to 13 per Cent. If you say I shall purchase & draw, I will do it immediately, for I desire nothing more than to shew a readiness of compliance with every thing that you can wish of.

Dear sir   Your obliged Obd Hl St

Wm Seton

Alex. Hamilton Esqr.

ALS, Hamilton Papers, Library of Congress.

1For background to this letter, see Seton to H, November 21, 1793.

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