James Madison Papers

To James Madison from John Francis Mercer, 15 February 1802

From John Francis Mercer

Annapolis Feb. 15. 1802.

My dear Sir

In an Official Letter of this date,1 you will find allusions which comport more with a private & confindential [sic] communication. The effect which the loss of the Bank Stock will have here, I can have no doubt will be fatal to the popularity of the present administration. Under the last it was offer’d the State with the deduction of 10,000£ Sterlg. as appears by the Letters of both Mr. King & Pinkney. They will now make the exclusion a sine qua non.

I fear you are deceiv’d with respect to this State, be assur’d that its wealth & talents are fearfully agt. us, what has been done is by Coup de main—& any drawback cannot yet be sustain’d. I wish I coud say all I wish to you on this subject, but fear it woud be thought over sollicitude. Be assurd I have no private object, fair & honorable extrication from the part I play is all my ambition soars to.

I enquire constantly after your health, I am truly gratified when each suceeding report is more favorable than the former. Pray present me affy. to the President & receive the assurances of a real freindship—

John Fr: Mercer

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