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Subject Area: Economics
Subject Area: Political Theory

GALLATIN TO JEFFERSON. - Albert Gallatin, The Writings of Albert Gallatin, vol. 1 [1879]

Edition used:

The Writings of Albert Gallatin, ed. Henry Adams (Philadelphia: J.B. Lippincott, 1879). 3 vols.

Part of: The Writings of Albert Gallatin, 3 vols.

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GALLATIN TO JEFFERSON.

Department of the Treasury, 15th October, 1804.

Dear Sir,—

The receipt for Louisiana stock which we have in the Treasury, and is enclosed, is only that of Mr. Livingston, which, in conformity with the contract of Baring with the French government and Messrs. Pichon’s and Baring’s letters filed in the office, operated as a full discharge to the United States of their engagement to deliver stock. Mr. Livingston had, besides this, become voluntary depositor of the stock and of the bills given by Baring in payment.

It appears by his enclosed letter that he had delivered both to the parties, and has sent a receipt to the Secretary of State on that subject. But this was a personal responsibility of his, with which government had nothing to do. It further appears by Baring’s letter (which is a private one to me) that the purchasers of the stock—Hope and Baring—had anticipated their payments, which, by the contract, were to be made within two years, and had paid the French government in full. With this we have nothing to do. Mr. Livingston’s letter is that which I had mentioned to you, and I enclose the copy of my answer, which went by Mr. Armstrong and was communicated to him, and which I had forgotten to send you before.

With respect, your obedient servant.