Alexander Hamilton Papers
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From Alexander Hamilton to Oliver Wolcott, Junior, [3 August 1796]

To Oliver Wolcott, Junior

[New York, August 3, 1796]

Dr Sir

I have received your letter of the 1st.1 I deplore the picture it gives and henceforth wish to forget there is a Bank or a Treasury in the U States, though I shall not forget my regard to individuals.

I do not see one argument in any possible shape of the thing for the sale of Bank Stock or against that of the other stock, which does not apply vice versa & I shall consider it as one of the most infatuated steps that ever was adopted.2

God bless You

A Hamilton

It will be known on Thursday whether any thing is to be expected here.3

Oliver Wolcott Jun Es

ALS, Connecticut Historical Society, Hartford.

1Letter not found.

2H is referring to the provisions of “An Act making provision for the payment of certain Debts of the United States” (1 Stat. description begins The Public Statutes at Large of the United States of America (Boston, 1845). description ends 488–89 [May 31, 1796]). For the provisions of that act to which H took exception, see H to Wolcott, May 30, 1796, note 1; H to George Washington, June 1, 1796. See also Wolcott to H, June 28, 1796; H to Wolcott, July 8, 1796.

3For information on negotiations for a loan by the Bank of New York to the United States, see Wolcott to H, June 28, 1796; H to Wolcott, July 7, 8, 15, 28, 30, 1796.

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