1From Alexander Hamilton to Oliver Wolcott, Junior, [17 February 1797] (Hamilton Papers)
I groan My Dr. Sir at the disgraceful course of our affairs. I pity all those who are officially in their vortex. The behaviour of Congress in the present crisis is a new political phœnomenon. They must be severally arraigned before the Bar of the Public. How unfortunate that our friends suffer themselves by their passiveness to be confounded in the guilt. Yrs. truly ALS , Connecticut...
2From Alexander Hamilton to Oliver Wolcott, Junior, 28 December 1796 (Hamilton Papers)
I received yesterday your’s by Post, which I communicated immediately to the Directors of both Banks, that is, so much as concerned each party. It has been very consolatory to the Bank of New York & will do good. All will be well. Mr. Alexander McComb applied, while I was in Office, respecting some land he & Edgar had purchased of the Public and on which they had made a partial payment which...
3From Alexander Hamilton to Oliver Wolcott, Junior, [23 December 1796] (Hamilton Papers)
I wrote to you two days ago on the subject of obtaining an instruction from the Bank of the U States to the Direction of the Office here to prevent a speedy repetition of their call on the Bank of New York. This Bank has so large a proportion of its whole Capital in the power of the Office that if it be not tranquillized on the subject of demands from that quarter, it will be driven to such...
4From Alexander Hamilton to Oliver Wolcott, Junior, [21 December 1796] (Hamilton Papers)
I did not understand by your letter of the 17th. of November whether you meant or not to authorise the immediate commencement of the sale of Stock. If you think this measure will become indispensable, it may be well to anticipate the execution; though indeed sales of Stock are at this juncture nearly impracticable. Yet I imagine it will be agreeable to the Bank to have permission to...
5From Alexander Hamilton to Oliver Wolcott, Junior, [6 December 1796] (Hamilton Papers)
The President of the Bank of New York called upon me yesterday and manifested considerable anxiety about the State of the Bank. It seems the course of things lately, and their large accommodation to the Government, have produced a heavy ballance against them in favor of the Office of Discount at this place, which has lately called for 100000 Ds in specie & it is apprehended may speedily call...
6From Alexander Hamilton to Oliver Wolcott, Junior, 22 November 1796 (Hamilton Papers)
I thank you for your Note sending me Adet’s letter. The present is in my opinion as critical a situation as our Government has been in—requiring all its prudence all its wisdom all its moderation, all its firmness. Though the thing is now passed, I do not think it useless to say to you that I was not well pleased with the Secretary of State’s answer to Adets note communicating the order...
7From Alexander Hamilton to Oliver Wolcott, Junior, [9 November 1796] (Hamilton Papers)
I received yesterday your letter of the 6th & immediately wrote some additional letters to the Eastward enforcing what I had before written. Pensylvania does not surprise me. I have reconsidered the opinion given to you on the 3d, & see no reason to change it. The reasoning which leads me to the conclusion has not been sufficiently explained. I will therefore be more particular. The articles...
8From Alexander Hamilton to Oliver Wolcott, Junior, [3 November 1796] (Hamilton Papers)
I have more carefully examined our Treaty with G Britain & I return to the opinion given you from Albany. My hesitation yesterday arose from the terms of the 24th article which were confined to privateers , a word that has an appropriate sense, meaning ships of private persons commissioned to cruise . But the following article contains the equivalent one to that with France, upon which we...
9From Alexander Hamilton to Oliver Wolcott, Junior, [1 November 1796] (Hamilton Papers)
I wrote you a line from Albany expressing an opinion from Memory , that our Treaty with G B prohibitted the sale of prizes made by French National Ships. Being just returned to Town I have looked into the article which relates to the point & I fear that opinion was wrong. In a day or two I will write you more particularly. Adets late communication demands a very careful & well managed answer....
10From Alexander Hamilton to Oliver Wolcott, Junior, 27 October 1796 (Hamilton Papers)
Your letter of the 17th instant found me at Albany attending the Supreme Court. I have no copy of the Treaty with G B at hand, but I am well satisfied from memory that the true interpretation of that Treaty, enforcing in this respect the true Rule of neutrality, forbids our permitting the sale of a prize taken & brought in by a French National Ship, equally as if by a Privateer —and that the...
11From Alexander Hamilton to Oliver Wolcott, Junior, [May–August 1796] (Hamilton Papers)
[ New York, May–August, 1796. ] “I have been applied to for an opinion concerning the Georgia Claim.… I will thank you for the Report of the Attorney General on that subject, to Congress.…” Copy, Connecticut Historical Society, Hartford. This is a reference to the claims of the Georgia Yazoo land companies which were organized in 1795. For information on these land grants and their revocation,...
12From Alexander Hamilton to Oliver Wolcott, Junior, [5 August 1796] (Hamilton Papers)
The Bank of New York is willing to make the loan of 324 000 Dollars to you (I mean the exact sum of about this amount, if you desire it, which one of the laws you mentioned authorises to borrow) on these terms to advance all but two hundred thousand Dollars when you please—to advance the two hundred thousand Dollars, by way of reloan, when that sum, payable in October, becomes due. The term of...
13From Alexander Hamilton to Oliver Wolcott, Junior, [3 August 1796] (Hamilton Papers)
I have received your letter of the 1st. I deplore the picture it gives and henceforth wish to forget there is a Bank or a Treasury in the U States, though I shall not forget my regard to individuals. I do not see one argument in any possible shape of the thing for the sale of Bank Stock or against that of the other stock, which does not apply vice versa & I shall consider it as one of the most...
14From Alexander Hamilton to Oliver Wolcott, Junior, 30 July 1796 (Hamilton Papers)
I had written you a short line previous to the Receipt of your letter of the 26th to which indeed I can add nothing material. It will, as things stand, be imprudent to push the point of a further loan till the President arrives —for though a majority of the Directors are well disposed to the thing, they are afraid of McCormick’s clamours and want the sanction of the President to controul &...
15From Alexander Hamilton to Oliver Wolcott, Junior, [28 July 1796] (Hamilton Papers)
I have not lost sight of the negotiation with the Bank though it labours & I have thought it best to let it lie bye till the President returns. Mc.Cormick is violent against it & plays on little jealousies, & what is still more efficacious private interests; representing the consequent inability of the Bank to accommodate the Merchants, many of whom from the unfortunate issue of some late...
16From Alexander Hamilton to Oliver Wolcott, Junior, [15 July 1796] (Hamilton Papers)
The application for a loan from the Bank of New York though powerfully supported by some of the leading directors labours; owing to the jealousy & narrowness of certain ones who see in it a plan to increase the active capital of the Branch Bank & put them in its power. Unluckily the President suddenly went off to R Island with his wife & some sick Children. I pursue the affair & I hope still...
17From Alexander Hamilton to Oliver Wolcott, Junior, [8 July 1796] (Hamilton Papers)
I have just received your letter of the 6th. The idea of selling Bank Stock is the worst of all & can only be urged on a plan of private speculation. Acquiescence may tempt the Bank to oppress hereafter for speculation purposes. I have talked to some Directors of the Bank of New York conformably to your first suggestion, respecting the deposit of Stock & it will not be expedient to change...
18From Alexander Hamilton to Oliver Wolcott, Junior, [7 July 1796] (Hamilton Papers)
I have had some conversation with some influential Members of the Bank of New York who are disposed to do all that shall be found possible. But I wish to know without exaggeration the least sum that will be a material relief to you & when & how the payments will be desired. Yrs. ALS , Connecticut Historical Society, Hartford. For an explanation of the contents of this letter, see H to Wolcott,...
19From Alexander Hamilton to Oliver Wolcott, Junior, [26 June 1796] (Hamilton Papers)
I learn from a Gentleman of character that a prize brought into Boston by a French Privateer is about to be sold. This being in direct breach of our Treaty with G Britain how does it happen? Though no particular law passed, the Treaty being the law of the land, Our custom houses can & ought to prevent the entry & sale of prizes, upon Executive instruction. If any thing is wanting to this end...
20From Alexander Hamilton to Oliver Wolcott, Junior, 16 June 1796 (Hamilton Papers)
It appears to me material under our present prospects to complete the three frigates without delay. They may be useful with reference to the Algerines—they may be useful to convoy our vessels out of the reach of pickeroon privateers hovering on our Coast. I know you want money but could not the Merchants by secret movements be put in motion to make you a loan. I think something of this kind...
21From Alexander Hamilton to Oliver Wolcott, Junior, [15 June 1796] (Hamilton Papers)
The post of today brought me a letter from you. From some recent information which I have obtained here, I have scarcely a doubt that the plan of the French is—1 to take all enemy property in our Ships contrary to the Treaty between the two Countries 2 to seize and carry in all our vessels laden with provisions for any English Port. Among this all that they choose to think enemy property will...
22From Alexander Hamilton to Oliver Wolcott, Junior, 9 June 1796 (Hamilton Papers)
I called at your house the morning of my departure but you was not then up. While I was in the City we had a little conversation concerning an affair of an arrangement with Swan for effecting a remittance to Holland. I intended to have resumed it for two reasons, one because it has been represented to the disadvantage of the Conduct of the Treasury, another because Swan who lodged at the same...
23From Alexander Hamilton to Oliver Wolcott, Junior, [30 May 1796] (Hamilton Papers)
I perceive Congress are invading the Sinking Fund system. If this goes through & is sanctionned by the President the fabric of public Credit is prostrate & the Country & the President are disgraced. Treasury Bills & every expedient however costly to meet exigencies must be preferable in the event to such an overthrow of system. Yrs truly ALS , Connecticut Historical Society, Hartford; copy,...
24From Alexander Hamilton to Oliver Wolcott, Junior, 27 May 1796 (Hamilton Papers)
The Patterson manufactory being defunct, the persons heretofore employed are thrown out of business and among them Mr. Marshall who erected & directed the Cotton Mill. As this man has proved that he understands himself & is a discreet well-moralled man I am loth that he should be under the necessity of leaving the Country. He is a man of some education. Besides a considerable knowlege of...
25From Alexander Hamilton to Oliver Wolcott, Junior, 20 April 1796 (Hamilton Papers)
I have received your letter of the 18th. instant. The money paid me for you shall be placed to your Credit in the Office of Discount & Deposit as you desire. The British Ministry are as great fools, or as great rascals, as our Jacobins—else our Commerce would not continue to be distressed as it is by their Cruisers, nor would the Executive be embarrassed as it now is by the new proposition....
26From Alexander Hamilton to Oliver Wolcott, Junior, [7–10 March 1796] (Hamilton Papers)
Inclosed are two letters which I will thank you to hand on. I have just seen Livingston’s Motion concerning Instructions &c. My first impression is that the propriety of a compliance with the call, if made, is extremely doubtful. But much careful thought on the subject is requisite. Yrs truly PS. I hand you also a letter from Mrs. Church to Mr. Beametz —which I will thank you to send to Mr....
27From Alexander Hamilton to Oliver Wolcott, Junior, 30 October[–12 November] 1795 (Hamilton Papers)
I wrote you yesterday for a statement of the advances & appropriations for the Department of State. I am very anxious that Fauchet’s whole letter should appear just as it is —strange whispers are in circulation of a nature foreign to Truth & implicating honest men with Rascals. Is it to come out? Can’t you send me a copy? I will observe any conditions you annex. The secret Journals & other...
28From Alexander Hamilton to Oliver Wolcott, Junior, [11 November 1795] (Hamilton Papers)
At length I am able to send you the explanation I mentioned to you. The papers upon which it is founded are returned that you may compare & if necessary correct. You may by altering the body or by a note rectify any inaccuracy . You will observe marks in the margin which will require particular attention. A Let the distance if not so now be rightly stated. B insert the most usual sum or sums....
29From Alexander Hamilton to Oliver Wolcott, Junior, 28 October 1795 (Hamilton Papers)
I have seen with pleasure your reply to the calm observer. I believe it is as far as you ought to go but more particular explanation will be useful & from me now a private man intirely proper. I therefore hope to receive as soon as may be the statements I requested. Yrs. ALS , Dartmouth College Library. For background to this letter, see H to George Washington, October 26, 1795, note 1 . For...
30From Alexander Hamilton to Oliver Wolcott, Junior, 27 October 1795 (Hamilton Papers)
I wish the statements requested in my letter of yesterday may contain each particular payment not aggregates for periods. It runs in my mind that once there being no appropriation I procured an informal advance for The President from the bank—if this is so let me know the time & particulars. If the Account has been wound up to an exact adjustment since the period noticed by the calm observer,...