The Seat of Government of the United States a Review of the Discussions On
The Seat of Government of the United States a Review of the Discussions On
1818 1874 Viator
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If the State has it in its power to lend the money which is solicited, I per- suade myself it will be done ; and the more especially at this time, when a loan is so indispensable, that, without it, not only very great and many impediments must be induced in the prosecution of the work now in hand, but inevitable loss must be sustained by the fuads of the city, in consequence of premature sales of public property. I have thought I ought not to omit to state, for the information of the General As...sembly, as well the difficulty of obtaining money on loan, as the present necessity for it; which I must request the favor of you most respectfully to communicate. The application was successful, and the State of Maryland, while complying with the personal request of the President for a loan, passed resolutions in testimony of their high regard for Washington himself. The amount loaned was $100, 000 ; and it exhibits the deplorable credit of the General Government, at that time, when a State called upon the private credit of the Commissioners, as an additional guarantee of the repayment of the loan.
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