TWENTY-EIGHTH CONGRESS, 1843-45. 277 



D 1. 

 Tkeasuuy Depaktmknt, July 14, 1838. 



Sir : The public service at the west will probably require, in the course 

 of a few weeks, considerable sums of money for disbursements on account 

 of the army and Indian department. Should your bank find it convenient 

 to meet drafts for any part of the balance due from you to the United States, 

 payable at its counter, I will cheerfully direct the Treasurer to place such 

 drafts upon you for such amounts, as you shall advise me immediately will 

 be paid by your bank. They will probably be required in specie. The 

 sums paid will be carried to the credit of your bank, and stop interest from 

 the date of payment. Should your bank have at command State stocks, 

 which it wishes to dispose of in discharge of its proportion of the two last 

 installments of the bonds of the State Bank of Indiana to the United States, 

 and will describe their character, and the lowest price at which they will 

 be sold upon payment in the mode mentioned, this department, having 

 funds to invest in State stocks, will be glad to receive a proposition on the 

 subject at your earliest convenience. 



These suggestions are made under the belief that some benefit may result 

 to all parties by such arrangement. 



I am, &c., L. Woodbury, Secretary of the Treasury. 



President of the branch of the State Bank of Indiana, Madison. 



A similar letter was addressed to President of the Bank of Michigan ; 

 President of the Planters' Bank of Mississippi ; President of the Branch 

 of the Bank of the State of Alabama, at Mobile ; President of the Agri- 

 cultural Bank of Mississippi ; President of the Farmers' and Mechanics' 

 Bank of Michigan ; President of the Branch of State Bank of Indiana, at 

 Lawrenceburg ; President of the Branch of State Bank of Indiana, at ITew 

 Albany. 



D 2. 



Extract of a letter from the President of the Branch Bank, Madison, In- 

 diana, dated Washington, August 3, 1838, in reply to the letter from the 

 department, dated, July 14, 1838. 



The Branch of the State Bank of Indiana, at Madison, will furnish your 

 department with Indiana 5 per cent, internal improvement bonds, princi- 

 pal and interest payable in New York, to the full amount of the debt that 

 branch owes your department, at par. 



Hon. Levi Woodbury, Secretary of the Treasury. 



D 3. 



Agricultural Bank, Natchez, July 26, 1838. 



Sir ; Your favor of the 14th instant, addressed to the president of this 

 bank, has been received. After thanking you for the suggestions it con- 

 tains, I am to inform you that our agent in the north, Alvarez Pish, Esq,, 

 formerly our president, is instructed to open a negotiation for the purchase 

 of $600,000 of the bonds of this State, now being oifered in the northern 

 market, provided he can dispose of them to the Government in liquidation 

 of the balance due the Treasury, and to correspond with you upon the sub- 

 ject. Our directory feel somewhat sanguine of the success of these nego- 

 tiations, which will supersede the necessity of our making arrangements to 

 meet the drafts of the Treasurer here, and will be a more convenient mode 

 of payment for us. 



Very respectfully, your obedient servant, 



A. P. Merrill, Cashier. 



Hon. L'h:vi Woodbury', Secretary of the Treasury. 



