Alexander Hamilton to Nathaniel Appleton seeking to correct the late payment of state debt - American History 1493-1945 - Adam Matthew Digital

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Field name	Value
Collection Reference Number	GLC01557
From Archive Folder	Documents Relating to 1791
Title	Alexander Hamilton to Nathaniel Appleton seeking to correct the late payment of state debt
Date	27 September 1791
Author	Hamilton, Alexander (ca. 1757-1804)
Recipient	Appleton, Nathaniel
Document Type	Correspondence; Business and financial document
Content Description	Hamilton writes as the Secretary of the Treasury to Appleton as the Massachusetts Commissioner of Loans to correct a practice of his that was resulting in late payments against debts of the United States.
Subjects	Finance Economics Government and Civics
People	Hamilton, Alexander (ca. 1757-1804) Appleton, Nathaniel (1731-1798)
Place written	Philadelphia, Pennsylvania
Theme	Government & Politics; Banking & Economics
Sub-collection	The Gilder Lehrman Collection, 1493-1859
Additional Information	Signer of the U.S. Constitution.
Copyright	The Gilder Lehrman Institute of American History
Module	Settlement, Commerce, Revolution and Reform: 1493-1859
Transcript	Show/hide Treasury Department Sept. 27 1791 Sir You observe in your letter of the first instant which did not strike me on the first perusal, or it would have been sooner noticed that "you think it probable the sum remitted will be sufficient for the payment of the next quarter's interest, though it must be matter of conjecture only till the close of the loan." The last clause leads me to conclude, that you have misapprehended a late instruction of the Comptroller, directing you to continue to receive subscriptions to the several loans to the end of the month. But this was not meant to alter the preceding instruction, to close your books as to transfers fourteen days previous to the termination of each quarter, and to make up your dividends of interest according to the then states of the stock on your books. Any deviation from this rule will necessarily interfere with the punctuality of payment, and with the order of the business, and will be particularly unfortunate. With consideration, I am, Sir, Your obedient Servant Alexander Hamilton

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