From Robert Morris
Phila June 2. 1795
I have this minute Received your favour of yesterday1 and I will directly set about the Arrangements for replacing the $9500 with Interest.2 The Account you desire shall also be made out, and I shall send you the Copy of a letter which I have written to Mr Church3 respecting the deferred Debt,4 which I expect will be agreeable to him and to you.
I am Dr Sir Yrs
LC, Robert Morris Papers, Library of Congress.
1. Letter not found.
4. This sentence concerns Morris’s efforts to pay a debt which he owed to John B. Church. For an account of this debt and Morris’s attempts to pay it, see the introductory note to Morris to H, June 7, 1795.
The “deferred Debt,” to which Morris is referring in this sentence, was one of two kinds of certificates which subscribers to the principal of the new domestic debt received under the terms of “An Act making provision for the (payment of the) Debt of the United States” (1 Stat. description begins The Public Statutes at Large of the United States of America (Boston, 1845). description ends 138–44 [August 4, 1790]). The first kind bore six percent interest and equaled two-thirds of the subscription; the second, which equaled the other one-third, did not start to bear interest until after 1800. The second category was known as the “deferred debt.” See also Morris to H, November 16, 1795.