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Letter to Editor June 12, 1820

Daily National Intelligencer

Washington, District Of Columbia

What is this article about?

In a June 7, 1820, letter to the Evening Post, Jacob Little clarifies his $100,000 subscription to a US government loan, stating it is non-binding and rejectable by the Treasury Department. He emphasizes the subscribers' respectability and notes paying $2,500 toward it.

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OCR Quality

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Full Text

It is but justice to the gentleman whose name is signed to the following, to publish it, having had occasion in our last to animadvert on his offer, as stated in the Evening Post.

NEW YORK, JUNE 7, 1820.

To the Editor of the Evening Post.

SIR: You having noticed my subscription to the loan, in your paper of the last evening, I will thank you also to state, that I do not consider the Treasury Department under the least obligation to accept of any particular subscription, that has been, or may be made, as it is manifest, from the advertisement for the loan, that only one million is wanted, for which subscriptions are to be received at several different places, and, when the amount subscribed is known, the amount wanted is to be apportioned among the subscribers, at the discretion of the Treasury Department; and as the amount of each instalment has not yet been decided by the honorable the Secretary of the Treasury, no subscription can be considered binding on either party until that decision takes place, and is approved by the subscribers, and, at all events, nothing is wished for or expected by me, that shall be thought inconsistent with the interest of the United States, or with the convenience of its officers, and I consider them perfectly at liberty to reject my subscription if they think proper to do so: no part of the money has been paid, and the persons for whose account I subscribed are among the most wealthy and respectable in this city.

Your obedient servant,
JACOB LITTLE.

N. B. Since writing the preceding, I have paid into the United States' Branch Bank two thousand five hundred dollars, on account of one hundred thousand dollars subscribed by me to the loan, and would have paid double that sum, had not the President of the Branch informed me it was unnecessary.

What sub-type of article is it?

Informative Persuasive

What themes does it cover?

Economic Policy Commerce Trade

What keywords are associated?

Us Loan Treasury Department Subscription Clarification Jacob Little New York Finance Government Loan

What entities or persons were involved?

Jacob Little Editor Of The Evening Post

Letter to Editor Details

Author

Jacob Little

Recipient

Editor Of The Evening Post

Main Argument

jacob little clarifies that his subscription to the us loan imposes no obligation on the treasury department, which may reject it at discretion, and affirms the respectability of the subscribers involved.

Notable Details

Subscription For $100,000 Payment Of $2,500 To Us Branch Bank Loan Totals $1 Million, Apportioned At Treasury Discretion

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