To Benjamin Lincoln
April 8th. 1791
In answer to your enquiry1 whether you may exchange the certificates, purchased under the directions of the Trustees of the Sinking fund, for others which are desired to be given for them, I have to observe that it does not appear to me that such an exchange would be regular, or proper.
It is my wish that you subscribe the debt purchased by you on the books of the Commissioner of Loans for Massachusetts in conformity to the terms of the loan proposed by the funding Act,2 in the names of the Trustees of the sinking fund, as expressed in the Act making provision for the reduction of the public debt.3
I request that you will as speedily as possible furnish me with an account of your purchases designating all the particulars which are required to be known by the law under which they are made.
I am, Sir, Your obedt. servant
Benj. Lincoln Esq.
LS, RG 36, Collector of Customs at Boston, Letters from the Treasury, 1789–1808, National Archives; copy, RG 56, Letters to Collectors at Small Ports, “Set G,” National Archives; copy, RG 56, Letters to the Collector at Boston, National Archives.
1. Letter not found.
2. “An Act making provision for the (payment of the) Debt of the United States” (1 Stat. description begins The Public Statutes at Large of the United States of America (Boston, 1845). description ends 138–44 [August 4, 1790]).