Adams Papers Digital Edition

Papers of John Adams, volume 20

To John Codman Jr.

To Thomas Welsh
John Adams to Cotton Tufts, 10 October 1790 Adams, John Tufts, Cotton
To Cotton Tufts
Dear Sir, NewYork October 10th 1790.

I write at this time only to authorise and request you, to subscribe for me, to the new loan, all the final settlements, Loan Office Certificates, Indents, or other paper securities whether of the United 421 States, or particular States, which you have in your hands belonging to me.1 I know not that any more particular power is necessary; if it is, upon notice, I will send it immediately. We remove to Bush-Hill, about two miles out of the City of Philadelphia, in about ten days; Can’t you spare the time make us a visit?2 You would make us very happy. Compliments to Mrs Tufts; should be very glad to see her with you. With usual affection, yours

John Adams.

LbC in CA’s hand (Adams Papers); internal address: “The Honble / Cotton Tufts / Esqr”; APM Reel 115.

 1.

Under the Funding Act of 4 Aug., three types of federal securities were eligible for sale. JA invested $2,036.32 at 6 percent per annum and $1,784.57 at 3 percent per annum, both beginning 1 Jan. 1791, and $1,018.16 at 6 percent per annum beginning 1 Jan. 1801. AA made similar investments totaling $3,164. Significantly, in tandem with the Adamses’ investment activities, JA also served as a commissioner of the Sinking Fund, for which see the board’s summary report to Congress of 21 Dec. 1790, and note 1, below (JA to Tufts, 23 Dec., MBBS:Colburn Autograph Coll.; AFC , 9:xiv, 95, 197).

 2.

The Adamses departed the city on 7 Nov. on the New York packet, Capt. Corwin, and reached Philadelphia five days later ( AFC , 9:142, 150, 507; New-York Daily Gazette, 8 Nov.; Pennsylvania Mercury, 13 Nov.).