By virtue of the several acts, the one entitled “An act making provision for the debt of the United States” and the other entitled “An act making provision for the reduction of the public debt,” I do hereby authorize and empower you, by yourself or any other person or persons, to borrow on behalf of the United States, within the said States or elsewhere, a sum or sums not exceeding in the whole $14,000,000, and to make or cause to be made for that purpose such contract or contracts as shall be necessary and for the interest of the said States, subject to the restrictions and limitations in the said several acts contained; and for so doing this shall be your sufficient warrant.

In testimony whereof I have caused the seal of the United States to be hereunto affixed.

[SEAL.]

Given under my hand, at the city of New York, this 28th day of August,
A.D. 1790.

Go.  WASHINGTON.

By the President: 
  TH:  JEFFERSON.

[From Annals of Congress, Second Congress, 1249-1250.]

George Washington, President of the United States of America, to the Secretary of the Treasury for the time being: 

Having thought fit to commit to you the charge of borrowing on behalf of the United States a sum or sums not exceeding in the whole $14,000,000, pursuant to the several acts, the one entitled “An act making provision for the debt of the United States,” the other entitled “An act making provision for the reduction of the public debt”—­

I do hereby make known to you that in the execution of the said trust you are to observe and follow the orders and directions following, viz:  Except where otherwise especially directed by me you shall employ in the negotiation of any loan or loans which may be made in any foreign country William Short, esq.  You shall borrow or cause to be borrowed, on the best terms which shall be found practicable (and within the limitations prescribed by law as to time of repayment and rate of interest), such sum or sums as shall be sufficient to discharge as well all installments or parts of the principal of the foreign debt which now are due or shall become payable to the end of the year 1791 as all interest and arrears of interest which now are or shall become due in respect to the said debt to the same end of the year 1791; and you shall apply or cause to be applied the moneys which shall be so borrowed with all convenient dispatch to the payment of the said installments and parts of the principal and interest and arrears of the interest of the said debt.  You shall not extend the amount of the loan which you shall make or cause to be made beyond the sum which shall be necessary for completing such payment unless it can be done upon terms more advantageous to the United States than those upon which the residue of the said debt shall stand or be; but if the said residue or any part of the same can be paid off by new loans upon terms of advantage to the