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

TO WAKELIN WELCH, ESQ. - George Washington, The Writings of George Washington, vol. XI (1785-1790) [1891]

Edition used:

The Writings of George Washington, collected and edited by Worthington Chauncey Ford (New York and London: G. P. Putnam’s Sons, 1890). Vol. XI (1785-1790).

Part of: The Writings of George Washington, 14 vols.

About Liberty Fund:

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.


TO WAKELIN WELCH, ESQ.

Sir,

Since my last of the 28th of Novr., I have been favored with your letters of the 27th of Feby. & 13th of March; and have receiv’d the paper hangings and watch by Capt. Andrews. With the last Mrs. Washington is well pleased, and I thank you in her name for your attention to the making of it.

If the stocks keep up, and there is not a moral certainty of their rising higher in a short time, it is my wish and desire that my interest in the Bank may be immediately sold, and the money arising therefrom made subject to my Drafts in your hands, some of which at 60 days sight may soon follow this letter.

The footing on which you have placed the interest of my debt to you, is all I require. To stand on equal ground with others who owe money to the merchants in England, and who were not so prompt in their payment of the principal as I have been, is all I aim at. Whatever the two Countries may finally decide with respect to interest; or whatever general agreement or compromise may be come to, between British Creditors and American Debtors, I am willing to abide by; nor should I again have touched upon this subject in this letter, had you not introduced a case which, in my opinion has no similitude with the point in question.

You say I have received interest at the Bank, for the money which was there—granted—but (besides remarking that only part of this money was mine) permit me to ask if G. Britain was not enabled by means of the bank, to continue the War with this country? whether this war did not deprive us of the means of paying our Debts? and whether the interest I received from this source did or could bear any proportion to the losses I sustained by having my grain, my Tobacco and every article of produce, rendered unsaleable and left to perish on my hands?

However, I again repeat that I ask no discrimination of you in my favor, for had there been no stipulation by treaty to secure debts—nay more, had there even been an exemption by the legislative authority or practice of this Country against it, I would, from a conviction of the propriety and justice of the measure, have discharged my original debt to you.

But from the moment our ports were shut, and our markets were stopped by the hostile fleets and armies of Great Britain, ’till the first were opened, and the others revived, I should, for the reasons I have (tho’ very cursorily) assigned, have thought the interest during that epocha, stood upon a very different footing.

I am much obliged by the trouble you have taken to enquire into the nature of the connexion between the House of Messrs. Hanbury & Co., and Balfour & Barrand. I had no sanguine hopes of redress from that quarter, but as it seemed to be the only chance I was willing to try it. I am, &c.