Washington, Aug: 23. 1807.
I have just received your letter of the 19th. Inst, with its enclosures.
I regret that I cannot give Mr. Howard any encouragement with regard to the Maryland paper held by him, tho’ I learn that it was always understood by many that the Bank stock lately recovered from the King of Engld stood pledged for its Redemption: but the Maryland authorities, as I am told, have determined otherwise, & the whole emission is considered now as being worth nothing at all. I will enquire, however, more particularly into the matter to morrow, (Monday) & will lose no time in communicating to you the Result.
Mr. Cock is still in the City. I will put your letter for Mr. Popham into his Care to day. I have the Honor to be, Dr. Sir, with perfect Respect, Your Obed: faithful Servt.
DLC: Papers of James Madison.