With respect to America, I will rather give you a general view of its situation, than merely relate recent events. The impost is still unpassed by the two States of New York and Rhode Island: for the manner in which the latter has passed it does not appear to me to answer the principal object, of establishing a fund, which, by being subject to Congress alone, may give such credit to the certificates of public debt, as will make them negotiable. This matter, then, is still suspended.
Congress have lately purchased the Indian right to nearly the whole of the land lying in the new State, bounded by lake Erie, Pennsylvania, and the Ohio. The northwestern corner alone is reserved to the Delawares and Wyandots. I expect a purchase is also concluded with other tribes, for a considerable proportion of the State next to this, on the north side of the Ohio. They have passed an ordinance establishing a land-office, considerably improved, I think, on the plan, of which I had the honor of giving you a copy. The lands are to be offered for sale to the highest bidder. For this purpose, portions of them are to be proposed in each State, that each may have the means of purchase carried equally to their doors, and that the purchasers may be a proper mixture of the citizens from all the different States. But such lots as cannot be sold for a dollar an acre, are not to be parted with. They will receive as money the certificates of public debt. I flatter myself that this arrangement will very soon absorb the whole of these certificates, and thus rid us of our domestic debt, which is four fifths of our whole debt. Our foreign debt will be then a bagatelle.