To Thomas Jefferson
[Philadelphia] Sunday 16th June 1793.
I should be glad if you would give the enclosed a perusal and let me know if you think the reasons there given are sufficient to authorise the additional Loan of 3,000,000 of florins applied for by the Secretary of the Treasury in a letter which you have seen.1
The answers contained in the Report, shew the points on which I required information from him.2 In addition to the motives assigned in the Report for borrowing the additional Sum, there are others (if the act of doing it is warranted by law) very cogent in my mind as inducements to the measure—namely—the uncertain result of the Indian Treaty3—the invasion of our Southern frontiers4—and the peculiarly delicate situation in which we are placed with respect to some of the European5 Powers—who in spite of all we can do may involve us in a dispute with one or other of them—In wch case it might be too late to effect a loan.6 If the propriety of borrowing on the plan, & for the purposes mentioned in the Report is clear in your mind the Report may be returned by the bearer—If not any time before nine7 tomorrow may do.8 Yours always
ALS, DLC: Jefferson Papers; ADfS, DNA: RG 59, Miscellaneous Letters; LB, DNA: RG 59, George Washington’s Correspondence with His Secretaries of State. Jefferson docketed the ALS as received on 16 June 1793.
1. For the enclosed reports, see Hamilton to GW, 15 June. GW had enclosed Hamilton’s letter of 3 June advising the new loan in his letter to Jefferson of 4 June. Jefferson responded with his First Opinion on a New Foreign Loan, which he enclosed in his letter to GW of 5 June 1793.
5. GW struck out “European” on the draft and inserted “Belligerant.” The word “belligerant” appears in the letter-book copy.
7. The word “noon” appears in the letter-book copy.
8. The cabinet was scheduled to meet with GW on Monday, 17 June, at 9 a.m. (JPP description begins Dorothy Twohig, ed. The Journal of the Proceedings of the President, 1793–1797. Charlottesville, Va., 1981. description ends , 178). For Jefferson’s reply, see his Second Opinion on a New Foreign Loan, 17 June 1793.