Gray, William H., 1810-1889 to Justin Morrill

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GLC#
GLC03806
Type
Letters
Date
4 December 1862
Author/Creator
Gray, William H., 1810-1889
Title
to Justin Morrill
Place Written
Boston, Massachusetts
Pagination
4 p. : envelope : free frank
Primary time period
Civil War and Reconstruction, 1861-1877
Sub-Era
The American Civil War

Discusses country's current financial position, per Morrill's request. Details poor state of U.S. finances, explains the "very grave objections" to President Lincoln's recommendation of a general banking law, and offers possible alternatives. "Our present debt is about 700 millions…The Government requires large additional sums…To place the whole security for the circulation of the country in the hands of a bureau at Washington, subject to the political changes to which it must be subject, is a matter to cause most serious apprehension." Morrill, a Republican Congressman from Vermont, was the author of the Tariff Act of 1861. Gray was a member of one of Boston's wealthiest families. Envelope free franked by Gray. Docketed by Morrill.

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