Debts Due to Ironmasters: Page #1

Transcription

[329 in upper right hand corner of page, circled]

Philad^a January 3 1784

The Iron Masters to whom great Sums are due are frequently applying to me to be informed whether the Shells of Shot at the several Furnaces belonging to the publick are to be Sold__ As you are fully acquainted with the nature of their demands, & the ability of the States, in any other way than that they propose to discharge them, and can also form the best judgment relative to the prop[indecipherable] of disposing of such part as may be equal to their claims, if not the whole on hand, I have thought best to Solicit your opinion previous to returning an Answer on the Subject__ The stores by the late act of Congress being wholly under my direction, I concieve [sic] I am authorized, & shall be fully justified in disposing of such as may not be considered as especially necessary to compose the Magazines intended to be kept on the Neace establishment, provided it can be done with evident advantage, In the present case the bills of the Iron Masters lately rendered will inform you that the Shells on an average cost about £47.10_ p Ton the shot about £27.10_ a Ton. The first will now command from ten to twelve pounds p ton and the latter from seven to nin pounds p ton, with this state of the matter in view it only remains to determine whether it is best to let the balances of the accounts in question continue to accumulate the demands or sell as many shot & shells as will pay them off immediately__ being clearly of opinion myself that the latter is the most [indecipherable]. I thought it my duty to submit the matter to your consideration, shall only add that as Bar Iron is in great demand & consequently high, the present seems the most likely time to sell the shot & shells to advantage as they will easily be drawn into Barrs__

Hon^{ble</> Super. Finance}

[signature, lower right of page] S. H