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Collection Reference Number GLC04785
From Archive Folder Documents Relating to 1791 
Title Alexander Hamilton to William Seton instructing him to spend money to ensure confidence in the credit of the USA
Date 16 August 1791
Author Hamilton, Alexander (ca. 1757-1804)  
Recipient Seton, William  
Document Type Correspondence
Content Description A confidential letter instructing the Cashier of the Bank of New York, Seton to spend up to $150,000 on the open market to buy outstanding debt-securities, in hopes that it will shore up confidence in the credit of the United States. At the time of this letter Hamilton was Secretary of the Treasury. Because of the limitations of Seton's funds, this action was only moderately successful.
Subjects Finance  Economics  Banking  Government and Civics  
People Hamilton, Alexander (ca. 1757-1804)  Seton, William (1746-1798)  
Place written Philadelphia, Pennsylvania
Theme Banking & Economics; Industry; Government & Politics
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
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