From Alexander Hamilton
Treasury Department January 20th 1795.
The Act entitled “An Act providing for the payment of certain instalments of the foreign Debts, and of the third instalment due on a Loan made of the Bank of the U. States,” passed the 8th of this present month of January;1 empowers the President to cause to be paid the third installment of the 2.000.000 Loan of the Bank of the United States (which did accrue on the last of December 1794 being 200.000 Dolls.) and the instalments of the foreign debt to accrue in the present year out of the proceeds of Foreign Loans. The instalments of the foreign Debt are 1.000.000. of Florins of the Dutch debt payable the first of June; 2.500.000 livres of the French debt, payable in Septr & November.
To effect the purpose of this Act, an Instruction to The Secretary of the Treasury is requisite. The form of one is herewith submitted.2 With perfect respect I have the honor to be &c.
1. For the act, see 1 Stat. description begins Richard Peters, ed. The Public Statutes at Large of the United States of America, from the Organization of the Government in 1789, to March 3, 1845 . . .. 8 vols. Boston, 1845-67. description ends 409.
2. On this date GW wrote Hamilton: “Pursuant to the power vested in me by the Act entitled ‘An Act providing for the payment of certain instalments of the foreign debts, and of the third instalment due on a Loan made of the Bank of the United States’—passed the 8th of this present month of January;
“You are hereby directed to make or cause to be made the several payments in and by the said Act described & authorised out of the proceeds of any foreign Loans had or made prior to the passing of the said Act” (LB, DLC:GW).