1. For background to this document, see the introductory note to H to Frederick A. C. Muhlenberg, December 16, 1793. See also William Seton to H, March 8, 29, 1794; H to John Kean, March 12, 1794; H to Seton, March 17, 1794.

As part of the detailed inquiry concerning the loans negotiated under the acts of August 4 and August 12, 1790, the committee appointed to examine the Treasury Department had been instructed by the House of Representatives to learn “whether the moneys raised thereby were immediately deposited in the Treasury; if not, in what places and to what amount, were such moneys deposited; how much time elapsed after such loans, before the said moneys came into the Treasury …” (Journal of the House description begins Journal of the House of Representatives of the United States (Washington, 1826), I, II. description ends , II, 72).

The statements included in this report completed the set of statements begun with “Report on the Receipts and Expenditures of the United States from the Commencement of the Present Government to the End of the Year 1793,” March 18, 1794.

A part of the information contained in these statements may also be found in the auditor’s reports on the accounts of the banks for the sale of Amsterdam bills (D, RG 217, Miscellaneous Treasury Accounts, 1790–1894, Account No. 2618, 2619, 4756, 4770, 4771, 4772, 4781, National Archives).

2. The committee report of May 22, 1794, describes the advances which the Bank of North America made to Howell in lieu of the loan authorized by “An Act for raising and adding another Regiment to the Military Establishment of the United States, and for making farther provision for the protection of the frontiers” (1 Stat. description begins The Public Statutes at Large of the United States of America (Boston, 1845). description ends 222–24 [March 3, 1791]). The committee report explains these advances as follows: “There being on hand, and coming in, moneys arising from the proceeds of foreign bills, which as the Secretary suggests, could not be advantageously applied to their destination, it was deemed advisable by him not to incur the expense of a loan upon interest, but to obtain advances from the Bank of North America, leaving in deposit as an offset, the sum of one hundred and seventy-seven thousand nine hundred and ninety-eight dollars and eight cents, being the proceeds of the Bills. These advances which were made to Joseph Howell, acting as Paymaster to the Department of War, were made upon sundry letters of the Secretary of the Treasury, between the nineteenth of September, 1791, and the 3d of January 1792, amounting to one hundred and fifty-six thousand five hundred and ninety five dollars and fifty-six cents, and were carried, by direction to an account distinct from that of the Treasurer, which was kept under the head of ‘The United States.’ The advances have been since reimbursed, and the proceeds of the bills carried to the debit of the Treasurer of the United States” (D, RG 233, Papers of the Select Committee Appointed to Examine the Treasury Department, Third Congress, National Archives).

3. William Short. For information on this transaction, see H to Willink, Van Staphorst, and Hubbard, March 15, 1793.

4. Letter not found.

5. See H to the President and Directors of the Bank of the United States, April 1, 1793.