To James Monroe
Sep. 28. 13.
Th:J. to Colo Monroe
I inclose you the letters on finance, for perusal. I had not an opportunity of proposing the reading them to the President, there being much company with him. when will the ladies & yourself do us the favor of a visit?
RC (NN: Monroe Papers); dateline at foot of text; addressed: “The Secretary of State”; with endorsement and notes by Monroe on verso. Not recorded in SJL. Enclosures: TJ to John Wayles Eppes, 24 June, 11 Sept. 1813.
Monroe summarized portions of TJ’s letter to Eppes of 24 June on verso: “200.000.000. the amt which may circulate—this gone into the hands of banks—
Let bills, as requird, be issued, on a tax redeeming them in 15. years on an interest of 6. pr cent—
Their credit being establishd issue others not bearing interest bottomed on a tax & if their credit faulterd, open public loans in wh these alone shod be recd as specie; a sinking fund—
The states should grant to congress the exclusive right to issue paper for ever, with a saving of charterd rights—all so of connecticut river do it at once, except delaware, Congress wod begin, by compelling uncharterd banks to wind up soon—
These bills would make their way & supplant unfunded paper of banks, by their solidity, universality, being recd in taxes & duties—By taking bank paper & running the banks confine them to their specie
between war & war all this called in.”
- banks; currency issued by search
- Congress, U.S.; and currency regulation search
- Jefferson, Thomas; Opinions on; banks search
- Jefferson, Thomas; Opinions on; government finance search
- Madison, James; and TJ’s letters on finance search
- Monroe, James; and TJ’s letters on finance search
- Monroe, James; letters to search
- Monticello (TJ’s estate); invitations to visit search