Document, 1792 March 31

Title:
Document, 1792 March 31
Library Location:
Library of Congress
(Non-Columbia Location)
Name:
Jay, John, 1745-1829; Randolph, Edmund, 1753-1813
Format:
correspondence
Digital Project:
Papers of John Jay
Date:
1792 March 31
Note:
The entire content of the original has been digitized.
Physical Description:
3
Subjects:
United States--History--Revolution, 1775-1783; Jay, John, 1745-1829
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.
Identifier:
columbia.jay.10217

Document, 1792 March 31