Albany, September 7, 1782.
Sir:
I have had the inclosed ready for some time; but in hopes of receiving
the returns of the certificates mentioned in memorandum B, I delayed
sending the present sketch. Having even received no answers from some
of the parties, who live at a distance from me, I suspect they have
done their business in so disorderly a manner (to say nothing worse of
it) that they are at a loss how to render the accounts; and I have,
therefore, concluded not to detain any longer what I have procured.
I do not take the step mentioned in memorandum A, because I doubted
its propriety. It might raise expectations about the old money, which,
possibly, it may not enter into your plans to raise: and, besides
this, by knowing what has been called in, in each State (which from
the sketch I send you, will appear as to this), you can determine the
balance of emissions remaining out, except what may have worn out and
been accidentally destroyed. If you desire this step to be taken, I
will obey your commands.
I have said nothing of the rates of depreciation, because I imagine
your letter, written in July, ’80, had reference to the rates at which
the money was then actually circulating, and the circulation has now
totally ceased. The laws I sent you by the last post, will inform you
of the rates fixed at different periods by the Legislature: forty,
seventy-five, and lastly, one hundred and twenty-eight. I am obliged to
infer there is a studied backwardness in the officers of the State, who
ought to give me the information you require respecting the supplies
of different kinds which have been furnished to the use of the United
States. Indeed, I find, on inquiry, that their joint information will
not be so full as to satisfy your intentions; and that this cannot be
done till you have appointed a commissioner of accounts, authorized to
enter into all the details, aided by some legislative arrangement which
may be obtained the next session.
I have the honor to be,
With great respect and esteem,
Sir, your most obedient servant,
A. Hamilton.
To Robert Morris, Esq.