TO MR. GALLATIN.
November 8, 1807.
I will sign a proclamation for the sale of the lands northwest of Ohio, whenever you think proper. I believe the form is in your office, and in the course of this week we will agree on the officers.
I am afraid we know too little as yet of the lead mines to establish a permanent system. I verily believe that of leasing will be far the best for the United States. But it will take time to find out what rent may be reserved, so as to enable the lessee to compete with those who work mines in their own right, and yet have an encouraging profit for themselves. Having on the spot two such men as Lewis and Bates, in whose integrity and prudence unlimited confidence may be placed, would it not be best to confide to them the whole business of leasing and regulating the management of our interests, recommending to them short leases, at first, till themselves shall become thoroughly acquainted with the subject, and shall be able to reduce the management to a system, which the government may then approve and adhere to. I think one article of it should be that the rent shall be paid in metal, not in mineral, so that we may have nothing to do with works which will always be mismanaged, and reduce our concern to a simple rent. We shall lose more by ill-managed smelting works than the digging the ore is worth. Then it would be better that our ore remained in the earth than in a storehouse, and consequently we give nine-tenths of the ore for nothing. These thoughts are merely for your consideration. Affectionate salutations.