To George Washington from Alexander Hamilton, 10 June 1794

From Alexander Hamilton

Treasury Dept June 10 1794.

Sir,

I have the honor of submitting herewith to the President the draft of a power to borrow One million of dollars, by virtue of the Act passed the 9 instant, intitled "an Act making appropriations for certain purposes therein expressed.["]1

I need only observe as to the necessity of making the loan, that the objects for which the Act provides will call for immediate expenditures—and that the funds contemplated will only accrue from revenues to be collected in future. With perfect respect, I have the honor to be &c.

A. Hamilton

LB, DLC:GW.

1. The enclosed draft has not been identified. GW signed the power, dated 9 June, on 11 June (JPP description begins Dorothy Twohig, ed. The Journal of the Proceedings of the President, 1793–1797. Charlottesville, Va., 1981. description ends , 308). For the act, which appropriated money mainly for naval armaments, port fortifications, the corps of artillerists and engineers, frontier defense, and the equipment of galleys, see Stat description begins Richard Peters, ed. The Public Statutes at Large of the United States of America, from the Organization of the Government in 1789, to March 3, 1845 . . .. 8 vols. Boston, 1845-67. description ends . 1:394-95.

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Source Project: Washington Papers
Title: To George Washington from Alexander Hamilton, 10 June 1794
Author: Hamilton, Alexander
Recipient: Washington, George
Date: 10 June 1794

Reference

Cite as: “To George Washington from Alexander Hamilton, 10 June 1794,” Founders Online, National Archives, https://founders.archives.gov/documents/Washington/05-16-02-0172. [Original source: The Papers of George Washington, Presidential Series, vol. 16, 1 May–30 September 1794, ed. David R. Hoth and Carol S. Ebel. Charlottesville: University of Virginia Press, 2011, p. 209.]

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