Washington 31st October 1796
Since our first Letter of this date, we have thought it prudent to write to Mr Wolcott & to enclose to him the proposals for a Loan from the Bank drawn out into detail, both which are left open for your perusal & approbation, without which we do not consider ourselves at liberty to make the propositions. Not knowing what may be the event of the application to the Bank, we have thought it adviseable to forward an Instrument empowering us to borrow of the State of Maryland, in case of need. We are, with sentiments, &c.
DNA: RG 42—Records for the Commissioners of the District of Columbia, Miscellany Letters of the Presidents.