Report from the Commissioners of the Sinking Fund, 9 April 1794
Report from the Commissioners of the Sinking Fund
[Philadelphia, 9 April 1794]
At a Meeting of the Commissioners of the Sinking fund, mentioned in the Act making provision for the reduction of the public debt,1 at the Senate Chamber, April 9. 1794.
Present,
The Vice-President of the United States,
The Secretary of the Treasury,
The Secretary of State,
The Attorney
General.
A report from Joseph Nourse, register of the Treasury, was read, stating that the dividend of interest arising on the first quarter of the present year on the stock standing to the credit of the said Commissioners, and also to the credit of Samuel Meredith, Treasurer, in trust for the United States, amounted to sixteen thousand five hundred & fifty eight dollars & seventy seven Cents.2
Whereupon, Resolved, that the same be forthwith applied towards sinking the public debt by purchasing stock upon rules & principles conformable to the last resolutlon of the board.3
Resolved, that the sum of fifty thousand dollars be also appropriated & applied in like manner.
Resolved, that Samuel Meredith, be the Agent for making the said purchases of Stock.
Signed by order of the board, John Adams.4
Approved, April 12. 1794 Geo. Washington
LB, DLC:GW.
1. See “An Act making Provision for the Reduction of the Public Debt,” 12 Aug. 1790, . 1:186–87.
2. See Joseph Nourse to Alexander Hamilton, 27 March, , 16:203–4.
3. For this resolution of 13 July 1792, see n.1 of Hamilton to GW, 16 July 1792.
4. This report was enclosed with a brief cover letter from Alexander Hamilton to GW of 12 April (DLC:GW).