To Alexander Hamilton from John Chaloner, 13 December 1786
From John Chaloner
Philada Decr, 13, 1786
Dr Sir
Yours of the 1st Inst covering Mr Whites Bill & Protest I reced the 10th Inst since which no Oppo has offerd by which I could send you the money.1 I shall embrace the first. Did the money I sent you by Mr Lawry2 come safe to hand? Our Assembly is now on the subject of the Bank & a proposition before them to restore the old Charter.3 Mr Morris4 is opposed to any alteration least it should faciltitate those who wish to take their money.5
I am with respt Dr Sir Your most obdt Serv
John Chaloner
ALS, Hamilton Papers, Library of Congress.
1. See H to Chaloner, November 22 and December 1, 1786. The bill presented by H to Cornelius Ray was presumably drawn by Charles White, Chaloner’s business partner.
2. Presumably Thomas Lowrey of Flemington, New Jersey, who through successful business ventures with Chaloner and Robert Morris during the Revolution was able to establish himself in business in Philadelphia in 1782.
3. The charter of the Bank of North America was repealed by the Pennsylvania legislature in September, 1785. The fight for recharter began immediately. Although a committee appointed by the legislature in March, 1786, reported that the charter had been repealed because of prejudice and ignorance, the Assembly adjourned in April, 1786, without rechartering the bank. In the election held in the autumn of 1786 supporters of the bank were encouraged by the election of a legislature friendly to the bank. As early as November, 1786, debate on the bank issue was revived in the legislature; and in December a committee, which had been appointed to consider a petition from the inhabitants of Philadelphia urging the restoration of the charter, recommended that the bank be rechartered.
4. Chaloner could have been referring to either Robert or Gouverneur Morris.
5. The committee appointed to report on the recharter of the bank recommended that the duration of the charter be limited and the capital stock restricted.