To John Adams
Treasury Department January 16th. 1795
I beg leave through you to inform the Senate that pursuant to the second Section of the Act establishing the Treasury Department which expressly makes it the duty of the Secretary of the Treasury “to digest and prepare plans for the improvement and management of the Revenue and for the Support of public Credit”1 I have digested and prepared a plan, on the basis of the actual revenues, for the further Support of public Credit, which is ready for communication to the Senate.2
This plan embraces, a further provision for the unsubscribed Debt, a provision for converting with the consent of the Creditors the foreign into Domestic Debt, a provision for augmenting the Sinking Fund so as to render it commensurate with the intire Debt of the United States, Suggestions for giving effect to the Act of the last Session granting a million of Dollars for the purposes of foreign intercourse;3 with some auxiliary propositions.
With perfect respect I have the honor to be Sir Your Obedient Servant
Secy of the Treasy
The Vice President of the
and President of the Senate
LS, RG 46, Third Congress, 1793–1795, Reports from the Secretary of the Treasury, National Archives; copy, Connecticut Historical Society, Hartford.
2. On January 19, 1795, the Senate “took into consideration the communication from the Secretary of the Department of Treasury, of the 16th instant; and,
“Ordered, That he be notified that the Senate are ready to receive the plan for the further support of public credit therein mentioned.” On January 21, 1795, H’s “Report on a Plan for the Further Support of Public Credit,” January 16, 1795, was communicated to the Senate (Annals of Congress description begins The Debates and Proceedings in the Congress of the United States; with an Appendix, Containing Important State Papers and Public Documents, and All the Laws of a Public Nature (Washington, 1834–1849). description ends , IV, 812, 813).
3. “An Act making further provision for the expenses attending the intercourse of the United States with foreign nations; and further to continue in force the act intituled An act providing the means of intercourse between the United States and foreign nations’” (1 Stat. description begins The Public Statutes at Large of the United States of America (Boston, 1845). description ends 345 [March 20, 1794]).