Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-02-02

III n became neceha'y
vhisn ,oy;t;oo. Secretary, IN MS
diais ;e,,;oo 70 the CommaloneTs,
a'i s .I no mode Of accomplishing The
. s. 'DsI bar BY the remittances trom ms
eDs s,'r =. then details, at length, the
s ,:s,a,ies whichs embarrais this opefa'io'''
0 ~ eoocludes by exhibiting, as the only
s.'eb H. lshsme, the acceptance OF propo-
i e.:uo made 10 him by Mr.. A. BAsIsc
ll'1' onion. -This proportion The Com
! :sooer, adviled Mr.. Gallstin 20 aeeede
p''. .o1s. Accordingly concluded a bargain
s'',h Mr.. B. which is faied in the reports
= w." {. n me manner following, gsz. Mr..
), . ,uroifhed the U. S. with Bills OF ex-
change on Holland al the rate OF 4, cents
ne eailder f7I per cent. above PAR p@y-
.bse 4, theie feveral periods, v'S.
January /, 1903, 100000 guiiders.
Frbruaiy oS5' coo
March $4,000
June b4z5'4o7 -.
nm. the Shares which the u. S. held IN
j. Bank of the u. S. being zsao at IS
\ ,.reenr. advance, or $50 dollars the ihare.
+ does NOT appear, by the reports, at
chat date rhe trsnfatiion with Mr.. B.
va, completed, bur it is fa:ed that he re-
yaxlt5s digilend.4ubieb became DE in
9sly. lhall, therefore, in my calculation
Of in,ereH, admit j, to have taken place
90 the laf day Of June, as the mott favor
able for the Secretary.
llall take no farther notice OF the
smbarrafinent, which appears to have dn-
ueNed MIR. Gallatin, than to fate, thar
,ecifely fuch difficulties as he dilcribes
were anticipated by his predictions when
they made TIE laws in quefion, actually
experienced by themfelyes, but which they
had the ability 10 obviate without lois
10 their country and with honour to them
klves.
1t frequently occurred, during the for
ner administrations of this government,
that the exchange between this country
and Europe was greatly againa us, and
perhaps 1t would nor be incorrect 10 fay,
that, during the administration of Waih-
iagton, il was generally 70. To have
contracted debts in Europe at low inte-
IeR, when the Reimbursement OF them at
snfavorable periods would deifroy, and
perhaps exceed in amodnt the benefit,
might have been a sh<qv of economy,
which, however it might accord with the
prattice of our preient rulers, would have
been very unwifc in thoie who then 60
serued Us. 7by provided againe con-
tingency of this kind (; tky had an agent,
who always rehded at the Hague. with
whom they could make confidential and
and timely communications on fuch lub-
jsds, and by whole iervices they could
avert 70 ferrous lois as that which We
now iuaain.
Mr. Jeferion, when ne came into OF
fee, found fucb an agent in Holland, but
unfortunately for the u. States he had the
s6rexisxi nile of Minister Rendenf, and
II did not comport with the fyitem OF
Feildenrfsi economy TO have more than
three foreign millions that milton was
OF courle deitroyed, and Mr.. Murray re-
turned home. The necefity for fuch an
othcer, nevertheless, exiRed, and as foon
longreis met, MIR. Gallatin cauied pro-
Whom TO be made by law for the reap
Pciatment OF one. He is called by the
more popular title of .lg<nt.
1 have thus ihewn the meafnres which
were taken by the predeceTors.of Mr..
Gailatin, TO enable them 10 reloan fuflici-
ent monies to dilcharge debt, whenever
one ihouid become due, and the unfavor-
aoie difference of exchange at the time
tender it,expedient to pay it off. 1t has
sao been fhewn, that Mr.. Gallatin, fol-
lowing wife example, caufed provifon
70 be made for preciiely fuch an exigency
Il