From Oliver Wolcott, Junior
Pha. Octr. 11. 1794.
I have recd. your favour dated the 7: & 8: inst:1 & shall carefully attend to all your directions.
I find that owing to some neglect, your letter to the Bank of New York was not recd.2 A duplicate which I transmitted produced a cordial & prompt compliance;3 this accounts for a delay, which at one time I feared was owing to a reluctance to advance the sum requested.
It was not intended by me to intimate that Col: Nevil would act as Pay Master;4 he was engaged to take charge of the remittances to Mr. Williams5 & Genl Miller6 & promised a compensation merely for that service.
The warrants for 90 M Drs for the pay of Genl Wayne’s army,7 have been issued & the notes made out. The Secretary of War will forward them to the army.
I have issued 50 M Drs. for the pay of the militia army, which will also be sent forward as soon as possible. The Cashier of the Bank8 being indisposed, & a sum in small notes sufficient for the payment not being obtainable I fear some little delay. I have however advised the War dept. to attempt an exchange of the large notes of the Bank of the U: S: for small notes of the other banks this being the best thing that can be done under present circumstances & preferable to a remittance in specie.
I did not know that Mr. Gale9 was in want of money or it would have been furnished. He has however lately recd. 40 M Drs. & I presume has suffered no inconvenience.
I have issued 10000 Drs. to Whelen & Miller10 on a presing application from Elie Williams for the transport service dated the 1: instant.
It was not possible for me to judge whether the 25 M Drs. directed to be issued by you had been counted on, when Mr. Williams wrote. It may prevent mistakes & too great an expenditure if you adopt measures for combining the estimates for the provision dept. & Transport service into one view & requesting them to be addressed to you in person while you remain with the army.
I think that I may assure you that the means of the Treasury are adequate to any emergency that can be foreseen at present.
I am with perfect respect sir Yr. obt sert.
O W Jn.
Hon: Alex Hamilton Esqr
at Head Quarters of the Army
Copy, Connecticut Historical Society, Hartford.
1. Letters not found.
3. On October 6, 1794, the Bank of New York agreed to a loan of two hundred thousand dollars at five percent interest (Domett, History of the Bank of New York description begins Henry W. Domett, A History of the Bank of New York, 1784–1884 (New York, 1884). description ends , 50). See also H to Verplanck, September 28, 1794, note 3.
5. Elie Williams.
6. Henry Miller.
7. Under the command of Major General Anthony Wayne the Army had defeated the Indians at the Battle of Fallen Timbers on August 20, 1794.
8. John Kean, cashier of the Bank of the United States.
9. George Gale was supervisor of the revenue for the District of Maryland.
10. The firm of Israel Whelen and Joseph I. Miller.