James Madison Papers

To James Madison from William Jones, 29 July 1816

Philada. 29th. July 1816

Dear Sir

Presuming that it may be acceptable to you to know the progress and prospects of the subscriptions to the Bank of the United States which in the existing State of things so materially involves the financial operations of the government, and the currency and credit of the Country; I have the pleasure to communicate to you such information as I possess on the subject either officially or privately. The following statement will exhibit the ascertain⟨tain⟩ed result of the subscriptions marked thus X, and also the probable result at those places where the amount has not yet been ascertained, but approximates to certainty marked thus *. The amount at the remaining places is conjectural but founded upon the best data at this time attainable.

  viz. at Portland Maine 350000
" Portsmouth N H 350000
" Boston X 2,402300
" Providence R I (upwards of) X 700000
" Middletown Con (do) X 1,000000
" Burlington Vert. 150000
" New York X 2 300000
" New Brunswick N J X 130000
" Philadelphia X 5,833600
" Wilmington Del X 465000
" Baltimore X 4,014100
" Richmond X 1,702200
" Lexington Keny. 1,200000
" Cincinnati 350000
" Raleigh N C 350000
" Nashville Ten 300000
" Charleston S C * 2,000000
" Augusta Geo * 1,000000
" New Orleans 300000
" Washington City X 1,293000

I think it may be assumed as certain that the Capita⟨l⟩ will not be three millions of dollars deficient and that upon opening the subscription again it will be filled in less than forty eight hours. With Sincere respect and regard I am Dear Sir your Obedt. Servt.

W Jones

DLC: Papers of James Madison.

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