[15] It may, perhaps, not be impossible to make some profitable speculations on the bullion which the Spaniards are afraid to transport from South America to Europe.
[16] It is impossible too soon to make some arrangement that will enable Congress to put a stop to the further emission.
[17] There is another immense consideration. The proprietors of the Bank will be the holders of a great part of this paper. They have it in their power to double the value of it by this plan: which is, in other words, to gain a hundred per cent.
HAMILTON TO WASHINGTON.
De Peyster’s Point, May 2, 1781.
Sir:
I am extremely sorry to have embarrassed you by my late application, and that you should think there are insuperable obstacles to a compliance with it. Having renounced my expectations, I have no other inducement for troubling your Excellency with a second letter, than to obviate the appearance of having desired a thing inconsistent with the good of the service, while I was acquainted with the circumstances that made it so.
I was too interested a spectator of what happened in the case of Major M’Pherson, not to have remarked, and not to recollect all the circumstances. The opposition turned ostensibly on his being a brevet officer, yet having a command in a corps formed entirely from one line: the propriety of his being employed in a detachment from the army at large, so far as I remember, was not disputed. In delicacy to Major M’Pherson, no personal objections were formally made: but in reality they existed, and contributed to the discontent. It was thought a peculiar hardship, that a gentleman who had, for a long time, fought against us, and had not taken part with us till a late period, and when our affairs had assumed a more prosperous aspect, should be preferred in one of the most honorary commands of the service. Your Excellency must be convinced, that I mention this in no other view than to show the sentiments of the officers at the time, and the whole grounds for the opposition. My esteem for Major M’Pherson, and other reasons, make it impossible I can have a different intention.
I know less of the motives of dissatisfaction in the case of Colonel Gimat and Major Galvan; but I have understood that it is founded on their being appointed in the light corps for two successive campaigns.
It would be uncandid in me, not to acknowledge that I believe a disposition to exclude brevet officers in general from command, has a great share in the opposition in every instance; and that so far it affects my case. But, at the same time, it appears to me, this principle alone can never be productive of more than momentary murmurs, where it is not seconded by some plausible pretext. I also am convinced that the Pennsylvania officers, for their own sakes, repented the rash steps they had taken; and, on cool reflection, were happy in an opportunity to relinquish their menaces of quitting a service to which they were attached by habit, inclination, and interest, as well as by patriotism. I believe, too, we shall never have a similar instance in the army, unless the practice should be carried to excess. Major Galvan, I am told, will probably be relieved. Colonel Gimat will be then the only brevet officer remaining in command. Your Excellency is the best judge of the proper limits; and there can be no doubt, that the rights of particular officers ought to give place to the general good and tranquillity of the service.