University of Virginia Library

5623. NATIONAL CURRENCY, Borrowing fund.—[continued].

I like well your idea of
issuing treasury notes bearing interest, because
I am persuaded they would soon be
withdrawn from circulation and locked up
in vaults in private hoards. It would put it
in the power of every man to lend his $100
or $1000, though not able to go forward on
the great scale, and be the most advantageous
way of obtaining a loan.—
To Thomas Law. Ford ed., ix, 433.
(M. Nov. 1813)