91To James Madison from Alexander J. Dallas, 23 July 1816 (Madison Papers)
Having considered the question, as to purchasing a site for the Observatory, more attentively, I conclude that it would be deemed, probably, an extreme latitude of construction, to make an expensive purchase of lots, as an incident to the authority for a survey of the coast, which is a temporary work. The objection does not arise to occupying lots already belonging to the public; and which...
92To 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...
93To 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...
94To 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...
95To 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...
96To 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...
97To 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...
98To 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...
99To 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,...
100To 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...
101To 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...
102To James Madison from Alexander J. Dallas, 11 September 1816 (Madison Papers)
When the report first reached me, that Mr. Sheldon was going to Europe, I felt some solicitude, that he should not go, before the Treasurer’s accounts were stated and settled; and I released him from all the other duties of the office, that he might attend exclusively to that object. I certainly felt no objection, generally, to his departure, as his health really required some relaxation from...
103To James Madison from Alexander J. Dallas, 20 September 1816 (Madison Papers)
Preparing to surrender the official trust, which you were pleased to confide to me in October 1814, I have the honor to present a general sketch of the actual and prospective state of the finances. This Report, taken in connection with the Reports made to Congress upon other occasions, will clearly exhibit the principles, upon which the business of the Department has been transacted,...
104To James Madison from Alexander J. Dallas, 21 September 1816 (Madison Papers)
The inclosed sketch will give you a general view of the finances. The item of floating debt is left open, until Mr. Nourse, the Register, returns, that the amount of Treasury Notes, absorbed by the payments for duties and taxes, may be precisely ascertained. It is very great; and may be estimated by the statement, which reduces the outstanding Treasury Notes to something like 6,000,000...
105To James Madison from Alexander J. Dallas, 27 September 1816 (Madison Papers)
Col. Lane seems to think, that the Librarian has been too officious in making his communication to you; and agrees that there ought not to be a change in the situation of the Library, until Congress shall decide upon it. This is, also, the opinion of Mr. Crawford and Mr. Rush. We have met on Col. Jessup’s letter; and Mr Crawford will communicate our general views upon the subject. The Colonel...
106To James Madison from Alexander J. Dallas, 1 October 1816 (Madison Papers)
A severe indisposition has confined me to my bed for three days. I am sufficiently recovered, however, to decide upon beginning my journey this afternoon, or tomorrow morning. I have left every thing here in order; and I shall continue, with great pleasure, to transact the business of the Department, until you are ready to release me. You will, of course, give me notice of a day, on which I am...
107To James Madison from Alexander J. Dallas, 5 October 1816 (Madison Papers)
If I had received your favor of the instant, at Washington, I should have been tempted to remain there, for the gratification of personal farewell. Indeed, I ran some risque, by undertaking the journey hither, the first day of my being able to leave my bed, for nearly a week. I always doubted Mr. Clay’s disposition to accept the War Department, although I have no doubt of his wish to be...
108To James Madison from Alexander J. Dallas, 18 October 1816 (Madison Papers)
I have just received your favor of the 15t. instant, and, conforming to it, I shall cease to act in the Treasury, after the dispatch of tomorrow’s mail. The kind expressions of your letter, make a deep and lasting impression. I shall resort to the testimonials of your approbation and confidence, for consolation, whenever the past reminds me of any sacrafice to be lamented; or the future shall...
109To James Madison from Alexander J. Dallas, 14 November 1816 (Madison Papers)
I have just received your favor of the 11t. inst. It has given me great pleasure; and in the course of two or three days, you will receive the note you request. If you should decide upon sending the Report of September last to Congress, I think it would be best to send it, in the shape of an explanatory Extract , relative to business, which was transacted before Mr. Crawford’s responsibility...
110To James Madison from Alexander J. Dallas, 20 November 1816 (Madison Papers)
An oppressive attention to the business of the court has prevented my making the inclosed draft earlier; and I send it now in a very rough state, rather than lose a mail for the purpose of copying it. I could not venture to fill the blank in the second page; but the figures will be supplied in a moment by the Register, upon a question, what will be the aggregate of the public funded debt after...
111To James Madison from Alexander J. Dallas, 5 December 1816 (Madison Papers)
I have received, my dear Sir, your invaluable communication of the 3d. instant. It is not in my power to express the sense, which I entertain of the notice taken of my services in the Treasury. For my own day, it will serve as a shield against the assaults of the envious, malicious, and inimical; and for the days of my Children, it will not be the least precious portion of their inheritance....