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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.

Treasury Department, 3d November, 1808.

Dear Sir,—

No deed has ever been made to Indians of lands reserved to them in this manner, for two reasons: 1st, that, holding from them, we cannot convey to them what they have not ceded; 2d, that this reservation is on the same footing with other lands not ceded, being reserved not for individuals who might sell, but for a whole tribe. By our general law, the Indians cannot, therefore, sell this tract to any but the United States. I have no doubt that this is a white men speculation, the patent now applied for being intended to enable the Indians to sell to them. But, at all events, a law would be necessary to authorize a patent in this case. If we knew the Nantucket consumption, we might act on the petition. They have been concerned in the exportation, and very probably there is now a scarcity. Vessels may take their cargoes under the usual restrictions as to all other ports. Yet it may be best, on the plan which you have adopted, to write to Mr. Lincoln. I would prefer writing to the collector. The words “extinguishing 7,670,000 dollars of principal during the current year,” in the financial paragraph, are not correct. That sum is the amount redeemed within fifteen months, viz., from 1st October, 1807, to 31st December, 1808. I would, therefore, omit those words, stating only that the payment of 1st January next includes the completion of the reimbursement of the 8 per cent. stock. With that omission, “seven and an half preceding years” should be substituted in the next line to “six and an half.” The total amount of redemption, viz., $33,580,000, is for 7 years and 9 months, viz., from 1st April, 1801, to 1st January, 1809, and will include almost the whole of your Administration, as nothing will be paid from 1st January, 1809, to 3d March ensuing, and the only sum omitted is what may have been paid between 3d March, 1801, and 1st of April of same year, which I have never ascertained, but does not exceed one hundred thousand dollars.

I cannot say precisely what the revenue liberated amounts to, but think it is a little less than two millions; about might be substituted to upwards.

Respectfully, your obedient servant.