From John Nicholson1
[Philadelphia] April 5 1793
I have this morning seen Mr. Randolph who informed me he gave you his opinion just before on the question whether New Loan debt of this State was subscribable and that it was in the negative.2 It appears to have been thus decided principally to avoid any difficulty with the State. Inclosed is a Copy of a letter I addressed to the Committe on Ways & means, and should be glad you would suspend any decision on Mr. Randolphs opinion untill I have an opportunity of seeing you thereon. If the mode I propose be adopted you will have the difficulty removed.3
I am Yr ob servt
The Honble Alexr. Hamilton Esqr
LC, Division of Public Records, Pennsylvania Historical and Museum Commission, Harrisburg.
3. On April 1, 1793, Nicholson wrote to John Swanwick, chairman of the committee on ways and means of the Pennsylvania House of Representatives, proposing that court proceedings be instituted to determine whether the “new loan” certificates were redeemable under the Pennsylvania act of April 10, 1792, “An Act to Provide for Paying and Redeeming Certain Public Debts, and for Defraying the Expenses of Government” (Pennsylvania Statutes description begins James T. Mitchell and Henry Flanders, eds., The Statutes at Large of Pennsylvania from 1682 to 1801 (Harrisburg, 1896–1915). description ends , XIV, 305–12). Nicholson concluded his letter to Swanwick: “I am so well established in my opinion, that if the decision should be in the negative, I will go as far as to hold myself responsible to the state for the recovery and re-payment of all money paid by the state to the several creditors of that description” (Hogan, Pennsylvania State Trials description begins [Edmund Hogan], The Pennsylvania State Trials: Containing the Impeachment, Trial, and Acquittal of Francis Hopkinson, and John Nicholson, Esquires … (Philadelphia, 1794). description ends , 82). On April 5, 1793, the Pennsylvania House of Representatives adopted a resolution “That the Attorney-General be directed to institute a suit against the said John Nicholson, to recover for the use of the commonwealth, the amount of the New-Loan certificates, which have been redeemed and paid at the Treasury of this State” (Hogan, Pennsylvania State Trials description begins [Edmund Hogan], The Pennsylvania State Trials: Containing the Impeachment, Trial, and Acquittal of Francis Hopkinson, and John Nicholson, Esquires … (Philadelphia, 1794). description ends , 89).