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Subject Area: Political Theory
Topic: The American Revolution and Constitution

to oliver wolcott - Alexander Hamilton, The Works of Alexander Hamilton, (Federal Edition), vol. 10 [1774]

Edition used:

The Works of Alexander Hamilton, ed. Henry Cabot Lodge (Federal Edition) (New York: G.P. Putnam’s Sons, 1904). In 12 vols. Vol. 10.

Part of: The Works of Alexander Hamilton, (Federal Edition), 12 vols.

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to oliver wolcott

June 16, 1796.

Dear Sir:

It appears to me material, under our present prospects, to complete three frigates without delay. They may be useful with reference to the Algerines. They may be useful to convoy our vessels out of the reach of picaroon privateers hovering on our coast. I know you want money; but could not the merchants, by secret movements, be put in motion to make you a loan? I think some thing of this kind may be done here, and I should presume at Philadelphia, etc. The sole ostensible object may be the Algerines, but the second object may circulate in whispers. If you conclude on any thing, I will second you.

Perhaps no bad form of the thing may be to place in the hands of your agents for building, Treasury bills from one hundred to one thousand dollars, payable in a year with interest; and to let it be known among the merchants that they are lodged exclusively to facilitate the equipment of the ships. But a more direct operation may be attempted, and I should hope with success, for the sum you may want for the frigates.