To the President and Directors of the Office of
Discount and Deposit, Baltimore
Treasury Department, March 2, 1793.
I find that my letter of the 23d ultimo,1 (which was written in haste,) proposing an arrangement for the accomodation of merchants who are indebted to the custom-house, does not correctly express the idea which was contemplated.
I therefore request that the following mode may be pursued: The directors are to judge of the safety of the notes which may be presented for discount for the respective sums due to the custom-house, and to take the risk of non-payment upon themselves. When the notes are accepted, the proceeds are subject to checks in favor of the collector2 only, which checks the bank receives for the collector as cash.
If the arrangement should be found necessary, it will be proper that this explanation be communicated to the collector.
I have the honor, &c.
The President and Directors of the Office of Discount and Deposit, Baltimore.
ASP description begins American State Papers, Documents, Legislative and Executive, of the Congress of the United States (Washington, 1832–1861). description ends , Finance, IV, 269.
1. “Treasury Department Circular to the Presidents and Directors of the Offices of Discount and Deposit of the Bank of the United States,” February 23–March 5, 1793 (PAH description begins Harold C. Syrett, ed., The Papers of Alexander Hamilton (New York and London, 1961– ). description ends , XIV, 137–38).
2. Otho H. Williams.