4 December 1862
Gray, William H., 1810-1889
Autograph letter signed
Title: to Justin Morrill
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…
GLC03806