Papers of John Adams, volume 20
rSir—
t15
th1790
Observing by the Papers that you are one of the Commrs: appointed for purchasing part of the public Debt at
Markett in which you will doubtless probably wish
to employ an agent—if this should be the Case—Mr Woodward
occurred to my mind as a person well calculated for such an employ—both for integrity
& a thourough acquaintance in this kind of buisness—having been for a long enrolled
in the list of speculators in Boston & with reputation— should it be convenient to
employ him as an agent while you will serve the publick—you will also confer an
essential favour on a meritorious Individual—1
I am at a loss to determine why the Consular Bill has been short of sight—it will prevent my Departure for some time2
I have the honour to be with great / Respect Yr Ob Servt
a.Bourne
RC (Adams Papers); endorsed by CA: “Silv. Bourn / Augst. 13— 1790.”; notation by CFA: “S. Bourne. /
Augt 13th 1790.”
Approving a key component of Alexander Hamilton’s economic plan,
Congress on 9 Aug. passed an act “making provision for the reduction of the public
debt,” which George Washington signed into law three days later. JA was
one of five commissioners empowered to purchase public debt on behalf of the federal
government. However, JA did not need an agent, since state loan officers
were deputized to handle the sale of securities. Bourne recommended Braintree surveyor
of highways Joseph Woodward, who wrote to JA on 15 and 30 May 1789 (both
Adams Papers), soliciting the
Boston collectorship (
U.S. Statutes at Large
, 1:186;
First Fed.
Cong.
, 3:567–568;
AFC
, 8:360, 9:108, 109).
On 15 July 1790 Elbridge Gerry introduced a bill in the House of
Representatives to establish salaries for U.S. consuls, and it was passed six days
later. The bill was read in the Senate on 21 and 26 July but postponed until the next
session (
First Fed. Cong.
, 3:514, 522, 824).