Alexander Hamilton to Thomas Jefferson, 20 March 179[2]
From Alexander Hamilton
Tuesday March 20. 1791 [i.e. 1792]
Mr. Hamilton presents his Compliments to Mr. Jefferson. He may have heard that the Treasurer was in the Market last night and may be at a loss concerning his authority. The ground of the operation is an Act of the Board of the 15th of August last, appropriating a sum between three and four hundred thousand Dollars, which Mr. Hamilton considers as any sum short of 400,000 Dollars; leaving still a sum to be expended within the terms as to price prescribed by that Act. This is merely by way of information.
RC (DLC); addressed: “The Secretary of State”; endorsed as received 20 Mch. Not recorded in SJL.
For information on the contents of this letter, see , xi, 159. Soon after receiving this letter regarding the U.S. treasurer’s purchase of goverment securities to stabilize their price, TJ prepared a copy of an opinion of John Jay on the Act for the Reduction of the Public Debt (MS in DLC: TJ Papers, 72: 12591; entirely in TJ’s hand including John Jay’s signature, and dated 31 Mch. 1792; entry in SJPL: “Jay’s Opinion on act respecting Sinking fund”).