675. BANK (U. S.), Subscriptions to.—[continued].
The subscriptions to the
Bank from Virginia were almost none. * * *
This gives so much uneasiness to Colonel
Hamilton that he thinks to propose to the
President to sell some of the public shares to
subscribers from Virginia and North Carolina,
if any more should offer. This partiality
would offend the other States without
pleasing those two: for I presume they would
rather the capitals of their citizens should be
employed in commerce than be locked up in
a strong box here [Philadelphia]: nor can
sober thinkers prefer a paper medium at 13
per cent. interest to gold and silver for nothing.—
To James Madison.
Ford ed., v, 350.
(Pa.,
1791)
