Name/Title
Letter from William Duer to Alexander HamiltonEntry/Object ID
HHV 007.5Description
Letter from William Duer to Alexander HamiltonSubject
Alexander Hamilton's health and bank stocks, creditors, public, Hamilton's Health, illness, bank, bank stocks, stock, combine specie, comparative resources, capital, economySubject Person/Organization
William Duer (1743-1799), Alexander HamiltonSubject Place
* Untyped Subject Place
New York, IrelandCollection
Duer Manuscript CollectionTranscription
[PAGE 1]
[in pencil, later date] ________ to Hamilton
My dear Friend. I learn with inexpressible Concern, that your / Health still Continues in an Equivocal State: all your/ Friends here Entertain on This Subject the most serious Anxiety: / and I am constantly required to Impress on you the necessity / of some Relaxation from the laborious Duties of your Office _ / In Exerting this Task, I obey the Impulse of my own Heart; / as we therefore Entrust on public Considerations (for private / ones have I am sensible little Comparative Influence with you) / to mind what the [Marcos] writes to you on this subject _ I have [said] with attention your Plan of the Bank; as the / Papers on the Duties _ I love you too well to say what Even I / think of them, less you may suspect me disposed to treat you / as Public men generally are by those who profess themselves / their Friend. _ The Effects which have been produced by / them are the best Proof of the soundness of your Principles _ / The Sources of Public Confidence are at length paid _ Wise / and solid Characters begin to Consider the Public as the most /
[END OF PAGE 1]
[PAGE 2]
Eligible Creditors: and if they are not checked in their [first] / Speculations by a Fall in the Stocks, will I am certain bring / forth such Resources as will Establish Public Credit on / the most solid Basis _ Some objections have been [started] / by a few who pretend to be [versed] in Banking Principles, / that it is not proper to Combine Specie, with Stocks / at the same Rate, whilst they are below Par _ But this / if it is Examined has not the wright which the Objectors / make; and it is in your Power to remove it altogether _ / For my [own] Par I cannot see why the Bank Stock / in your Plan should not rise as [at least] to the same / Rate with that of Ireland _ The Comparative Resources / of this Country; are greater; and the [Divided] of the Bank / is not more than [unrecovered] whilst the Capital is one / hundred, and Forty five _ In a few days I will Enlarge / on there Desultory Ideas _ in the mean while. [Accrue] / and [finess] the Principles you have [adopted] : - they /
[END OF PAGE 2]
[PAGE 3]
Will Establish your Reputation in the Happiness and Prosperity / of the Country to whom you have devoted your Sources. God help you! Wm. Duer Alexander Hamilton Esq.Newyork. [Dec] 24th. 1790 [ADDRESSED TO] Alexander HamiltonWsq. Secretary of theTreasury – [UPSIDE DOWN OF ADDRESS] 24 Decm 1790Wm DuerNo. 8 [crossed out]11 [ADDED LATER] Approving hisExcise + BankReport —
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Other Numbers
Number Type
Former NumberOther Number
H 3003Number Type
Former NumberOther Number
D 3003General Notes
Note Type
DepartmentNote
Library
