[17 Aug. [undecipherable] 1799 Oliver Wolcott. Indian Trade James M^cHenry Esq. Sec'y War] 17^th of Aug. 1799 Dear Sir I had written to Mr. Harper and put my letter to the Post Office, before I rec'd your Note yesterday afternoon — What I have written will not however embarrass you in forming a decision of the propositions of M'Grith & Janson — They wish for an inclusive right of Trade which cannot distinctly be granted. My opinion has you, [now] been somewhat different from yours in the subject of Indian Trade. I consider the public Establishments as in every respect necessary. The Capital must from the nature of things be lost — abuses will be committed by the public Agents sooner or later, But it is impossible that the Indians should be well supplied. The Interest and policy of the Gov't in my opinion requires, that the Indian Trade should not principally be in the hands of a few men of Capital — The Indians require advances of certain Articles on Credit — The public cannot safely give this Credit — The Traders if they be not mere pedlars, without Capital or responsibility, will always be interested in [underline: fomenting War —] War is destructive of Trade. The Gov't can always controul real Traders though the Pedlars will always be out of their Powers, and may frequently stimulate the Indians to mischief. My plan would be to keep the Trade in [underline: few, but good Hands]. & to give up the public Stores as soon as possible, without violating any public engagements. Jn. M^cHenry Esq. yr. trvd. Sec'y War [signature] Oliver Wolcott