Document, 1792 March 31

Name:
Jay, John, 1745-1829; Randolph, Edmund, 1753-1813
Title:
Document, 1792 March 31
Date:
1792 March 31
Format/Genre:
correspondence
Physical Description:
3
Note:
The entire content of the original has been digitized.
Summary:
In Jefferson's hand, John Jay's reply to the "Case stated ...by the Trustees of the sinking fund"--enclosure in Randolph to John Jay, 29 March 1792 (see 8634 and 7067). John Jay concludes his discourse on "legal" and "market" values of stocks by saying:..."I am of opinion that the words 'if not exceeding the par or true value thereof' do not restrain the purchase of any part of the debt of the United States, so long as the market price of the same shall not exceed the sum actually due from and payable by the United States in discharge of these debts." A note on the last page of the manuscript describes the Secretary of State's continued opposition to this view.
Subjects:
United States--History--Revolution, 1775-1783; Jay, John, 1745-1829
Library Location:
Library of Congress
(Non-Columbia Location)
Digital Project:
Papers of John Jay

Document, 1792 March 31