Treasury Department Circular
to the Presidents and Directors of the
Offices of Discount and Deposit of the
Bank of the United States
Treasury Department February 23d [–March 5] 1793
I have made the following arrangement with the Bank of the united States for the accommodation of the merchants of Philadelphia whose bonds for duties shall become payable between this date and the last day of the ensuing month of march.
The Bank will discount during the period mentioned the notes of such merchants as are indebted to the Custom house, for 30 days, for the respective sums that shall become payable. The Bank will receive those notes from the Collector as cash; they must therefore be drawn in favour of the Collector only.
If a similar arrangement should appear to you, from any existing circumstance requisite to the accommodation of the merchants of New york,1 I think it proper to mention to you as a facilitation of it, that I will not draw for the sums that have relation to this transaction until about the middle of may next.
I enclose you a letter to the Collector2 desiring him to furnish you with an abstract of the Bonds which will fall due within the time the arrangement is to continue, specifying names, sums and times when due.3 This letter may be delivered to the Collector if it should be thought proper to adopt the arrangement; if otherwise it may be suppressed.
I have the honor to be very respectfully Gentlemen Your obedt Servt
LS, dated February 23, 1793, to the President and Directors of the New York Office of Discount and Deposit, Henry W. and Albert A. Berg Collection of The New York Public Library; copy, dated March 5, 1793, to the Presidents and Directors of the Boston and Providence Offices of Discount and Deposit, Connecticut Historical Society, Hartford; copy, dated March 5, 1793, to the President and Directors of the Bank of Providence (Reminiscences of Newport by George Champlin Mason 1884, Extended and Illustrated by His Son George Champlin Mason [Newport, Rhode Island, 1901], III, 151A).
1. The name of the city varies in each circular.
3. A note at the bottom of the copy in the Connecticut Historical Society indicates that the circular sent to the branch bank at Providence also enclosed letters for William Ellery, collector of customs at Newport, and Jeremiah Olney, collector at Providence.