11To James Madison from Alexander J. Dallas, 31 August 1816 (Madison Papers)
Your favor of the 25. inst. has been received. All the answers to the Treasury proposition, for a partial renewal of payments in coin, are in the negative, except from the New-England Banks. I select a few of these, for your information; and I add the communications made officially to me, of the result of the proceedings of the Convention of Bankers at Philadelphia. Be so good as to return the...
12To James Madison from Alexander J. Dallas, 27 August 1816 (Madison Papers)
The Bank subscription is filled. The deficit of the general returns, 3,000,000. Dollars, was taken by Mr. Girard, in a single line, to the great disappointment of the Brokers and Speculators. I congratulate you upon this event. There is little doubt of the organization of the Bank being republican, and friendly to the Government. The Cumberland road presents new embarrassments; and I shall...
13To James Madison from Alexander J. Dallas, 24 August 1816 (Madison Papers)
The Secretary of the Treasury has the honor to submit the following Statement to the consideration of the President of the United States. Treasury Notes, which were issued under Acts passed prior to the Act of the 24. of February 1815, were payable at the expiration of a year from their respective dates, with interest at the rate of 5 2/5 per cent. per annum, at the Loan Offices, respectively,...
14To James Madison from Alexander J. Dallas, 23 August 1816 (Madison Papers)
I find Mr. Jones so infirm in body and mind that I feel uneasy to be longer absent from Washington. I shall, therefore, return next week to finish my treasury report there. It will give you pleasure to learn that I am able to give notice for payment of the treasury notes due in New York as far down as the month of June, 1816. Indeed, everything but the currency will be in good order. The bank...
15To James Madison from Alexander J. Dallas, [ca. 19 August 1816] (Madison Papers)
It appears that Dr. Flord [Flood] returned to New Orleans on the 3d of July, and that the bank subscriptions were opened. The amount is not expected to exceed $300,000 at that place. The general deficit will probably be $3,000,000, but it will be immediately supplied by companies already formed. Mr. Girard alone will take $1,000,000, if he can obtain that sum. I am anxious to receive your...
16To James Madison from Alexander J. Dallas, 11 August 1816 (Madison Papers)
The inclosed application from Mr. Hughes, appears to be within the rule, exempting the effects of public Ministers, upon their return to the United States, from the payment of duties. If you approve, the proper instructions will be given to the Collector. My solicitude, respecting the conduct of the State Banks, the organization of the National Bank, and the disorder of the currency, encreases...
17To James Madison from Alexander J. Dallas, 8 August 1816 (Madison Papers)
A convention of representatives from the Banks of New-York, Philadelphia, and Baltimore, decided yesterday, that they would reccommend to their Constituents, the resumption of specie payments on the 1st. of July next. A Committee called upon me to communicate the decision. I remonstrated against so distant a day, and stated that there were two periods, designated by the measures of the...
18To James Madison from Alexander J. Dallas, 6 August 1816 (Madison Papers)
The Collectors selection of a site and buildings, for the New-York Custom House, is generally approved; and the price deemed moderate. The inclosed letter from Mr. Derbigny creates an apprehension, that the Subscription to the Bank has not been opened at New-Orleans. The Commissioners were named by the Louisianna members of Congress; and as Mr. Brown and Mr. Robertson are on the spot, I hope...
19To James Madison from Alexander J. Dallas, 3 August 1816 (Madison Papers)
Mr. Jones promised to communicate to you a statement of the subscriptions to the Bank of the United States. The deficit will not be great, and will be immediately subscribed, at Philadelphia. Mr. Jones’s prospect brightens. He is opposed, however, by Major Butler, whose appointment produces all the inconveniences, that I apprehended. The Treasury Circular seems to be approved by all, but the...
20To James Madison from Alexander J. Dallas, [ca. 25 July 1816] (Madison Papers)
I inclose the Memorial of the Merchants of New-York, to which Mr. Irving’s letter (already communicated to you) referred. It appears to me, that the only proper mode of interfering for the relief of the Memorialists, would be to authorise the District Attorney to stay executions, after judgments had been entered, taking, if necessary, additional security. To suspend suits, or to renew the...