John Adams, Vice President of the United States and President of the Senate

John Jay, Chief Justice

Thomas Jefferson, Secretary of State

Alexander Hamilton, Secretary of the Treasury.

The minutes of yesterday were read and approved.

The Secretary of the Treasury, at the desire of the Board, laid before them certain propositions1 concerning the disposition of the moneys placed under their direction; and the Board having considered and approved the same, came to the following resolution, subject to the approbation of the President of the United States, viz.

That the Secretary of the Treasury cause to be applied, a sum not exceeding fifty thousand dollars per month, computing from the first day of September next, towards the purchase of the present domestic debt of the United States. That the purchases2 begin at the city of New York, and there continue until the end of October next, and that they then be transferred to the city of Philadelphia, and there continue until the last day of December next, unless sooner otherwise ordered. That they be made by the treasurer, under the direction of the Secretary of the Treasury, at the market price, and in an open and public manner. And that the said treasurer be directed to keep a regular account of his purchases, of the times when, prices at which, and of the persons from whom, they are made, and to render the same for settlement to the Auditor of the Treasury, at the end of every quarter of a year, and, when settled, to present a copy thereof to the Board.

Ordered, That this resolution be presented by the Vice President to the President of the United States.