From Alexander Hamilton to Robert Morris, [26 October 1782]
To Robert Morris
[Albany, October 26, 1782]
Sir
I am honored with your letters of the 5th. 15th and 16th instant.
The detail you have been pleased to enter into in that of the 5th exhibits very cogent reasons for confining yourself to pretty large denominations of notes. Some of them had occurred to me others had not; but I thought it my Duty to state to you the operations which that circumstance had, as in the midst of the variety and extent of the objects, which occupy your attention you may not have so good opportunities of se⟨eing⟩1 the effect of your plans in detail. While I acknowlege that your observations have corrected my ideas upon the subject and showed me that there would be danger in generally lessening the denominations of the paper issued, I should be uncandid not to add that it still appears to me, there would be a preponderance of advantages in having a part of a smaller amount. I shall not trouble you at present with any further reasons for this opinion.
I have immediately on the receipt of your ⟨letter⟩ taken measures for the publication of your adver⟨tisement⟩ in the newspapers of this state.
You will perceive by the inclosed account, that since my last, I have received five and twenty hundred dollars.2 This was procured in part of the loan I mentioned to you. It was chiefly paid to me in specie and I have exchanged it with Colo. Pickering3 and Mr. Duer4 for your notes; the latter had twelve hundred dollars. Taxes5 col⟨lect⟩ slowly, but I must shortly receive two or three hundred pounds more, of which Mr. Duer will have the principal benefit, as it appears by your letter to him, that you hoped he might receive three thousand Dollars from me.6
As I may shortly set out for philadelphia I wish to surrender to Mr. Tillot⟨son⟩7 as soon as you think proper the office in wich he is to succeed. I have the honor to be with sincere respect & esteem Sir Your Most Obed servant
Alx Hamilton
Copy, Hamilton Papers, Library of Congress. The endorsement is in the writing of H.
1. Material in broken brackets is taken from , I, 319.
2. H’s receipt for the sum mentioned reads as follows: “Received October 22d, 1782 from Gerard Banker Treasurer, Two thousand five hundred dollars in specie pursuant to the within written Warrant” (ADS, MS Division, New York Public Library).
3. Colonel Timothy Pickering.
4. William Duer.
6. Duer needed money to pay for the supplies he had procured as contractor for the posts north of Poughkeepsie, New York (Morris to Duer, October 2, 1782, Robert Morris Papers, Library of Congress). H probably had expressed the hope that Duer might receive the $3,000 from Morris in the unfound letter which H wrote to Duer on October 15, 1782.
7. Thomas Tillotson.