From Alexander Hamilton to Oliver Wolcott, Junior, 30 July 1796
To Oliver Wolcott, Junior1
[New York] July 30th 1796
Dr Sir
I had written you a short line previous to the Receipt of your letter of the 26th2 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 arrives3—for though a majority of the Directors are well disposed to the thing, they are afraid of McCormick’s clamours4 and want the sanction of the President to controul & counterballance him. All I am told that can now be relied upon is a postponement of the payment of the 200 000 Dollars heretofore lent5—to which McCormick assents.
Yrs. truly
A Hamilton
Oliver Wolcott Esq
ALS, Connecticut Historical Society, Hartford.
1. For an explanation of the contents of this letter, see Wolcott to H, June 28, 1796; H to Wolcott, July 7, 8, 15, 28, 1796.
2. Letter not found.
3. Gulian Verplanck.
4. Daniel McCormick.