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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

July 30, 1796.

Dear Sir:

I have written you a short line previous to the receipt of your letter of the 26th, to which, indeed, I can add nothing material.

It will, as things stand, be imprudent to push the point of a further loan till the President arrives—for, though a majority of the directors are well disposed to the thing, they are afraid of Mr. McCormick’s clamors and want the sanction of the President to control and counterbalance him. All, I am told, that can now be relied upon, is a postponement of the payment of the 200,000 dollars heretofore lent, to which Mr. McCormick assents.1

[1]Now first printed from the Wolcott papers in the possession of the Connecticut Historical Society. This letter, and those preceding on the same subject, give a curious idea of the conduct of the government and the scale of financial dealings in 1796 as compared with those of to-day.