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Subject Area: Economics
Subject Area: Political Theory

GALLATIN TO GENERAL SAMUEL SMITH. - 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 GENERAL SAMUEL SMITH.

Treasury Department, June 29, 1809.

Sir,—

I received the day before yesterday your letter of 26th instant, enclosing two Baltimore papers.

I have no other knowledge of the circumstances connected with the naval agency of Degen and Purviance than what is derived from their account as stated by the accountant of the Navy Department. The transaction, such as it appears there, is, under all its aspects, the most extraordinary that has fallen within my knowledge since I have been in this Department. It has certainly left very unfavorable impressions on my mind, and these have on one occasion been communicated verbally to a friend. Yet I hardly need say that I never supposed that the bills had been sold to government for the purpose “of securing a debt which you then considered bad, and of thus throwing the loss on the United States.” But I did believe that you had drawn without having previously placed sufficient funds in the hands of Degen and Purviance, and that they had accepted your bills and passed the amount to the credit of the United States without having at the time in their hands sufficient funds belonging to you. That this was my impression you will perceive by the enclosed extract of a letter to Mr. Armstrong; and Mr. Purviance’s statement, which you enclosed to me, shows that I was not mistaken. I do not intend to comment on this and other circumstances of the case. Taking them altogether, I have believed that, if we failed in our endeavors to recover the money from Degen and from Mr. Purviance, we might have recourse against the drawers of the bills.

I am, sir, &c.