JOSEPH GALES, ESQ., MAYOR OF THE CITY OF WASHINGTON; RESPECTING THE LOAN OF A MILLION AND A HALF OF DOLLARS, PRINTED BY PETER FORCE, CORNER OF ELEVENTH STREET 1830. B.A LIBRARY LETTER FROM THE HON. RICHARD RUSH. No. 7. LONDON, November 25th, 1829. Sir: I am now finally to report to you, with the necessary fulness, the endeavors I have used for negotiating the loan of a million and a half dollars for the three towns of the District of Columbia. In the performance of this duty, it is a source of great satisfaction to me to commence by saying that my endeavors have at length proved successful, the money having been raised in Holland, and at a rate of interest under the limit prescribed by the law. I set out by speaking of the whole loan. This I must necessarily do, for, from the beginning, I found that it would not answer to separate the case of the towns one from another. Nobody, here or in Holland, who contemplated a connexion with the loan at all, would listen to such a course. The whole subject rested upon one and the same act of Congress, and the entire sum wanted was already too small, as several capitalists said to me, to form a current stock of any temptation in amount, in these markets. Any division of the transaction would have increased this objection, whilst it would have tended also to make more complicated what was considered as too much |
