To James Madison from Alexander J. Dallas, [25 September 1815]
From Alexander J. Dallas
[25 September 1815]
Dear Sir.
Since my report was forwarded to you,1 I have had the pleasure of discharging the temporary loan of 500,000 Dollars, long due to the State Bank at Boston. The reduced amount of the outstanding Treasury Notes, has produced the effect intended. The Notes are rapidly mounting to par; and you will have the pleasure of seeing the public engagements paid in gold & silver, or Bank notes convertible into coin, at Boston, and throughout New-England, before the 1. of January next.
RC (DLC). Undated; docketed “Sep 25, 1815” in an unidentified hand and so dated in the Index to the James Madison Papers. Conjectural date assigned here based on the docket and comparison with Dallas to JM, 18 Sept. 1815. In Dallas’s hand; signature clipped.
1. Not found.