From Alexander Hamilton
Tuesday March 20. 1791 [i.e. 1792]
Mr. Hamilton presents his Compliments to Mr. Jefferson. He may have heard that the Treasurer was in the Market last night and may be at a loss concerning his authority. The ground of the operation is an Act of the Board of the 15th of August last, appropriating a sum between three and four hundred thousand Dollars, which Mr. Hamilton considers as any sum short of 400,000 Dollars; leaving still a sum to be expended within the terms as to price prescribed by that Act. This is merely by way of information.
RC (DLC); addressed: “The Secretary of State”; endorsed as received 20 Mch. Not recorded in SJL.
For information on the contents of this letter, see Syrett, Hamilton description begins The Papers of Alexander Hamilton, ed. Harold C. Syrett and others, New York, 1961-1979, 27 vols. description ends , xi, 159. Soon after receiving this letter regarding the U.S. treasurer’s purchase of goverment securities to stabilize their price, TJ prepared a copy of an opinion of John Jay on the Act for the Reduction of the Public Debt (MS in DLC: TJ Papers, 72: 12591; entirely in TJ’s hand including John Jay’s signature, and dated 31 Mch. 1792; entry in SJPL: “Jay’s Opinion on act respecting Sinking fund”).