From Oliver Wolcott, Junior
Phila. Apl. 12. 1797.
I thank you for your Letter of April 5th. & enclose Mr. Kings Letter.1 I presume that the British Comrs. under the 6th. Article (for Debts)2 will contend for a similar construction3 respecting cases determined in our Courts. Is there any ground on which the principle can be opposed?
Are we to consider the British Credit as at an end,4 if so what effects, will it probably produce here?
Your further opinions respecting the course to be pursued by France, will be very acceptable.
Oliv Wolcott Jr
A Hamilton Esq
ALS, Hamilton Papers, Library of Congress.
2. In Article 6 of the Jay Treaty, the United States guaranteed the payment to Great Britain of bona fide private debts contracted before the peace treaty of 1783. The amount of the debts was to be determined by a mixed commission of five members (Miller, Treaties, II description begins Hunter Miller, ed., Treaties and Other International Acts of the United States of America (Washington, 1931), II. description ends , 249–51). The British commissioners were delayed in leaving England, and the first meeting of the commission, held in Philadelphia, did not take place until May, 1797.