Note on Value of District of Columbia Loans
[before 1 Nov. 1802]
|200,000.||D. from Maryld on guar. of Congr. in stock yielded||169.873.41|
|100,000.||lent by Congr.|
|50,000.||stock lent by Maryld. payable Nov. 1. 1802 yielded||42,738.36|
MS (DLC: TJ Papers, 192:34074); undated; entirely in TJ’s hand.
STOCK YIELDED: the Maryland loans to the District of Columbia commissioners consisted of U.S six percent stock at par value, which the commissioners sold for specie at the market price. LENT BY CONGR.: the act of 18 Apr. 1798 authorized the president to lend $100,000 to the commissioners (ASP description begins American State Papers: Documents, Legislative and Executive, of the Congress of the United States, Washington, D.C., 1832–61, 38 vols. description ends , Miscellaneous, 1:258; Vol. 33:481n; Vol. 35:99n).