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Washington, District Of Columbia
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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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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.
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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