To Oliver Wolcott, Junior1
[New York, July 15, 1796]
The application for a loan from the Bank of New York2 though powerfully supported by some of the leading directors labours; owing to the jealousy & narrowness of certain ones who see in it a plan to increase the active capital of the Branch Bank & put them in its power. Unluckily the President3 suddenly went off to R Island with his wife & some sick Children. I pursue the affair & I hope still to accomplish it.
There will be no difficulty in obtaining a postponement of the existing loan.4 But this I tell them will not be sufficient.
Oliver Wolcott Jun. Esq
ALS, Connecticut Historical Society, Hartford.
3. Gulian Verplanck.