Means of the Treasury Are Adequate, Etc.
Document 1794Among a number of other financial matters, Wolcott assures Hamilton that the means of the Treasury are sufficient to address any emergency that may emerge.
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[to Hamilton
Oct: 11. 1794]
Pha. Octr. 11. 1794.
Sir
I have recd. your favours dated the 7: & 8: inst: & shall carefully attend to all your directions.
I find that owing to some neglect, your letter to the Bank of New york was not recd: a duplicate which I transmitted produced a cordial & prompt compliance; this accounts for a delay, which at one time I feared was owing to a reluctance to advance the sum requested.
It was not intended by me to intimate that Col. Nevil would act as Pay Master; he was engaged to take charge of the remittances to Mr. Williams & Genl. Miller & promised a compensation merely for that service.
The warrants for 90 M. Ds for the pay of Genl. Wayne's army, have been issued & the notes made out. The Secretary of War will forward them to the army.
I have issued 50 M. Ds for the pay of the militia army, which will also be sent forward as soon as possible. The Cashier of the Bank being indisposed, & a sum in small notes sufficient for the payment not being obtainable I fear some little delay. I have however advised the War Dept. to attempt an exchange of the large notes of the Bank of the U. S. for small notes of the other banks — this being the best thing that can be done under present circumstances & preferable to a remittance in specie.
I did not know that Mr. Gale was in want of money or it would have been furnished — he has however lately recd. 40 m. Drs & I presume has suffered no inconvenience.
I have issued 10000 Drs to Whelen & miller on a pressing application from Eli Williams for the transport service dated the 1: instant.
It was not possible for me to judge whether the 25 M. Ds directed to be issued by you had been counted on, when Mr. Williams wrote — it may prevent mistakes & too great an expenditure if you adopt measures for combining the estimates for the provision dept. & Transport service into one view & requiring them to be addressed to you in person while you remain with the army.
I think that I may assure you that the means of the Treasury are adequate to any emergency that can be forseen at present.
I am with perfect respect Sir.
Yr. Obt. Servt.
O. Wolcott
Hon: Alex Hamilton Esq
at Head Quarters of the Army
Type
Autograph Letter Signed
Description
Among a number of other financial matters, Wolcott assures Hamilton that the means of the Treasury are sufficient to address any emergency that may emerge.
Date
10/11/1794
Author
Recipient
Sent from
Philadelphia
Repository
Collection
Document number
1794101190101
Page start
1
Notable persons
Alexander Hamilton
Oliver Wolcott, Jr.
Wayne's Army
Mr. Gale
Whelan & Miller
Elie Williams
Notable locations
Bank of New York
Treasury Department

