From Alexander Hamilton to George Washington, 30 April 1792
To George Washington
Treasury Department
April 30. 1792
The Secretary of the Treasury has the honor respectfully to communicate to the President authenticated copies of the Contracts for the three last loans made in Europe; that for 6000000 of Florins at Amsterdam bearing date the 14 of December 17911 at a rate of 5 ⅌ Cent Interest, that for 3000000 of Florins at Antwerp at a rate of 4½ ⅌ Cent Interest bearing date the 30th day of November 17912 and the last for 3000000 of Florins at Amsterdam at 4 per Cent Interest bearing date the 24 of December 1791;3 of which respective contracts a Ratification by The President as heretofore is requisite.
AL, RG 59, Records Relating to Foreign Accounts, 1782–1797, Bills of Exchange and Loan Ratifications, National Archives.
1. This loan was negotiated at Amsterdam in September, 1791. For a description of the Holland loan of September, 1791, see William Short to H, August 31, 1791.
2. For a description of the Antwerp loan, see Short to H, November 8, 1791, note 4, and November 12, 1791.
3. This is a reference to the Holland loan of December, 1791. For a description of this loan, see Short to H, December 23, 28, 1791. The December, 1791, loan was negotiated for three million rather than six million florins. In late 1791, however, Short learned that the Dutch government was considering the imposition of a tax on foreign loans negotiated in Holland. In order to circumvent the payment of this tax on an anticipated United States loan in 1792, Willink, Van Staphorst, and Hubbard, the bankers of the United States in Amsterdam, suggested to Short that the contract of the December, 1791, loan be made for six million florins, leaving the extra three million florins available for 1792 (see Short to H, December 30, 1791).