Hamilton, Alexander | The Bank of the United States makes special accomodation to ensure the compensation of public officers

Property from a Private Collection of a Founding Father of Rhode Island and our Country

Hamilton, Alexander
Printed circular letter signed ("AHamilton") as Secretary of the Treasury, to Henry Marchant, Judge of the Rhode Island District Court, regarding compensation of public officers

One page (240 x 202 mm; watermarked Sandy Run), dated and directed in a clerical hand, "Treasury Department" [Philadelphia], 30 March 1793; a little spotted, a few pinholes, some short marginal fold separations and chips.

The present Treasury Department Circular letter announces a rather complicated program by which the Bank of the United States will accept powers of attorney from public officers who "may have demands upon the Treasury."

"I take the liberty to inform you, that the President, Directors and Company of the Bank of the United States have consented to accept Powers of Attorney from such persons as may have demands upon the Treasury, and to hold the monies which they may be authorised to receive, subject to drafts to be made upon their Cashier.

"I have therefore prepared a Power of Attorney for that purpose; and in case the proposal meets with your approbation, you are requested to execute and acknowledge the same before some proper Magistrate, or Notary, and transmit it to this Office. … To avoid risque from forgeries, you are desired to transmit your signature on several pieces of paper, and to make your drafts payable to order, according to the form herewith transmitted.

"As some time will be necessary after your compensation falls due before the accounts can be settled at the Treasury and the money placed to your credit in the Bank, it is desired, that your drafts may be so regulated, that they will not be presented until ten days after the end of the quarter for which they may be drawn.

"In case you consent to this arrangement, your salary will be regularly placed to your credit in the Bank, without the formality of an account thereof being transmitted to the Treasury for settlement. … As the President and Directors of the Bank will make no charge against you for their agency, it is expected by them, that the postage on such letters as you may have occasion to address to their Cashier will be paid at the offices in which they may be lodged.

"This arrangement has been concerted essentially for the accomodation of the public officers, to facilitate to them the receiving of their dues with expedition and without expence."

The public officers eligible for this accomodation included judges of the district courts (like Henry Marchand), the justices of the Supreme Court, the Attorney General, and the governors and judges of the Northwest Territory and the Southwest Territory.

REFERENCE
The Papers of Alexander Hamilton, ed. Syrett, 14:264–265

Condition Report:
Condition as described in catalogue entry.