Alexander Hamilton Papers
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From Alexander Hamilton to the President and Directors of the Bank of the United States, 19 March 1792

To the President and Directors of the
Bank of the United States1

Treasury Department, March 19, 1792.

Gentlemen:

It has been represented to me that a sum of money, unusually large, has and will become due to the United States, from the importers into the district of Philadelphia, in the course of the current month. On this occasion I think it proper to remind you that the collector of that district,2 in consequence of standing circular instructions to the custom-houses,3 will receive from the merchants, upon equal terms with cash, the post-notes of the Bank of the United States, if not issued for a longer term of payment than thirty days after date. You will judge how far it may be convenient to you to make operations payable in such notes, which might not be convenient if payable immediately in specie or in cash notes.

It has occurred that such an operation may have special reference to those who have the payments to make, and it is particularly desirable, at the present crisis, that every reasonable accomodation should be afforded.

I am, gentlemen, &c.,

A. Hamilton, Secretary

The President and Directors of the Bank of the United States.

ASP description begins American State Papers, Documents, Legislative and Executive, of the Congress of the United States (Washington, 1832–1861). description ends , Finance, IV, 267–68.

1In PAH description begins Harold C. Syrett, ed., The Papers of Alexander Hamilton (New York and London, 1961– ). description ends , XI, 152, this letter is listed as a “letter not found.” Thomas Willing was president of the Bank of the United States.

2Sharp Delany.

3See “Treasury Department Circular to the Collectors of the Customs,” September 22, 1789; January 2, 1792 (PAH description begins Harold C. Syrett, ed., The Papers of Alexander Hamilton (New York and London, 1961– ). description ends , V, 394–95; X, 501–03).

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