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was purchased, and the demand likely to continue, that I do not expect to be able to make further purchases within the limits prescribed. I have the honor to be, With great respect, sir, your obedient servant, JONA. SMITH, Cashier. The Hon. WM. H. Chawrown,
Secretary of the Treasury, Washington City.
Bank of the United States, June 13, 1817.
SIR: I have the honor to acknowledge the receipt of your letter of the 11th inst. in conformity to which, instructions will be immediately issued from this bank to the respective Cashiers of the banks therein designated. With great respect, I have the honor to be, Sir, your obedient servant, W. JONES, President.
Hon. WILLIAM. H. CRAwforn,
Office of Discount and Deposite, Baltimore,
SIR: I have received from the Bank of Somerset the following notes of that Bank:
One payable in 3 months, dated 1st April, 1817, for $14,032 60
One do. 6 do. do. 14,239 98 One do. 9 do. do. 14,447 36 One do. 12 do. do. 14,654 74
In all amounting to s57.374 68
They were received by your authority for the account of the United States, and in payment of the Treasurer's drafts on said bank,
numbered 4694, dated 12th February, 1816, for $14,000 8294, dated 22d February, 1817, for 41,500 87 $55,300 87
These drafts I have sent to the Bank of Somerset with this endorsement, “Office of Discount and Deposite, Baltimore, 14 June 1817– For the within I have received, for the account and use of the United States, notes of the Bank of Somerset, including interest till due, by the orders and authority of the Secretary of the Treasury.”
. The difference between the drafts and their notes, $2073 81, is for interest on the notes,
I have charged the Treasurer’s account with the drafts, and I hold the notes for collection at this office for the account of the United States, and, as they are paid, will be severally passed to the credit of the Treasurer. *
Any other arrangement, as to form, that will be more acceptable to you, please to request, and it shall be made by
Your obliged and obedient servant,
Bank of the United States, September 17, 1817.
SIR: I have now the honor to transmit twenty-six certificates of funded debt of the United States, agreeably to the enclosed account, and schedule, amounting, at the par or nominal value thereof, to two millions of dollars, being that which the Bank of the United States were authorized, by the Commissioners of the Sinking Fund, to purchase, and deliver to them, (upon the terms, and conditions, stated in the enclosed account,) in lieu of the two millions ordered to be sold in London, on account of the bank. The par value of the funded debt, now transmitted, having been received by the Bank of the United States, in a draft of the Treasurer of the United States, on the cashier of said bank, for two millions of dollars, dated July 1, 1817.
I have the honor to be, with great respect,
decrunt of Funded Debt, transferred by order of the Secretary of the Treasury, in behalf of the Commissioners of the Sinking Fund, to Thomas T. Tucker, Treasurer of the United States, in trust to the said States. The said debt having been purchased, and is now delivered, upon the terms, and conditions, specified in the following copy of a Resolution of the Board of Directors, of the Bank of the United States; which the Secretary of the Treasury, in behalf of the Commissioners of the Sinking Fund, has recognized, and confirmed.
Bank of the United States, 24th June, 1817.
“Resolved. That the Board accepts the alternative offered by the Secretary of the Treasury, in behalf of the Commissioners of the Sinking Fund; and will purchase, as the agent of the said commissioners, two millions of war six percent. stock, of the United States, in lieu of that ordered to be sold in London, on account of the Bank; and will deliver the stock, so purchased, to the commissioners aforesaid, at the par value thereof; upon condition, that the two millions ordered to be sold, on account of the bank, shall be redeemable, only, at the period, and upon the terms, specified in the certificates thereof.”
Bank of the United States, September 17, 1817.
Six per cent. Stock of 1815.
19 - - $595,303 16
20 - - 95,303 16
21 - - 95,303 16
22 - - 95,303 16
23 - - 95,308 16
24 - - 95,803 16
25 - - 95,393 16
26 - - 95,303 16
27 - - 95,303 16
16 - - 94,134 44
17 - - 94,134 44
18 - - 94,134 44
——— 282,403 S2
Ten Million Loan.
16 - - - - 42,969 08 Seven and an half Million Loan.
17 - - 84,911 70
18 - - 84,911 70
19 - - 84,911 69
––– 202,714 77 Exchanged six per cent. of 1812. 3 - - - - 62,220 02
Funded six per cent. Treasury Notes.
3 - - - - 12,711 20 Supplemental six per cent. stock, of 1814.
3 - - - - 4,656 14
W. JONES, President.
Office of Discount and Deposite Bank United States,
SIR: I have to acknowledge the receipt of your letter of the 11th inst with the accompanying notification, and an act of Congress, to which every attention shall be paid; but apprehend that the late advance, in the price of stocks, will put it out of my power to accomplish any thing for some time to come.
I am, very respectfully, sir, Your most obedient servant, - J. B. DANDRIDGE, Cashier.
Hon. WM. H. CRA wronn, f
Secretary of the Treasury.
Office of Discount and Deposite,
SIR: As instructed in yours of the 12th inst. I have purchased, and now enclose, bills of exchange on Liverpool, payable in London, for the precise amount of $6,000. I also enclose my account and vouchers for the same. .
I have the honor, also, to acknowledge the receipt of your letter of the 11th inst. advising of my appointment as agent, under your superintendance, to make purchases of stock of the United States, for the Commissioners of the Sinking Fund, and instructing me relative thereto; all which I duly note for my guidance, and shall not omit regular advice of the state of my purchases.
I am, most respectfully,
Hon. WM. H. Caawronn,
office of Discount and Deposite, Boston,
SIR: I have the honor to acknowledge the receipt of your letter, of the 11th instant, enclosing an “Act for the redemption of the public debt,” passed March 3, 1817, and authorizing me, as agent of the Commissioners of the Sinking Fund, to make purchases of Stock, within the limits of said act, to the amount of four hundred thousand dollars. I have published the necessary notice, and shall endeavor to obtain the Stock within the limits prescribed. I have the honor to be, with the greatest respect, Yonr obedient servant, SAMUEL FROTHINGHAM, Cashier,
Hox. WILLIAM. H. CRAwronn.
office of Discount and Deposite, Bank of the United States, Richmond, June 22, 1817.
SIR: At a loss what better to do, I beg leave to trouble you with the annexed extract of a letter, from the Cashier of the Office of the Farmers' Bank of Virginia, at Winchester, to whom were sent those drafts about which I had the honor to correspond with you, some time since; and, if it be proper, you will let me hear from you, on the subject. Having just received some instructions from the Treasury Department, and from the Bank of the United States, respecting the new arrangements, and having heard nothing about the Trea- . surer’s account with this Office, up to this period, I would be glad to know how,” and when, it is to be furnished. I have the honor to be, most respectfully, Your obedient servant. - J. B. DANDRIDGE, Cashier.
Thomas T. Tucken, Esq.
“I have received your favor of the 9th instant, enclosing the Treasurer’s drafts, the one on the Saline Bank, which is about 150 miles from this place, and the other on the Charleston Bank, upwards of 200 miles. I am informed, by some of my acquaintance, direct from Clarksburg, that the Bank at that place cannot redeem its paper, and it is selling at considerable discount. But if it is your wish, I will employ one or two persons to go to the Bank: the expense will be about $200, and considerable risk in bringing the money, (if they get it.) Should you determine to send, please to write me what you wish done, if the banks refuse paying such money as you require.”
* The form, I presume, will be such as was prescribed for the Bank of Virginia.