John W. Taylor to MVB, 31 October 1814
October 31. 1814
My dear friend
I am gratified at the prospect of seeing you here next month for many reasons but more especially because it will enable me to profit by your counsel in the present crisis of our national affaris. Lt. Gov. Tayler, Col. Jenkins (who is now here) & most of our friends at Albany advise
us to issue a paper currency accompanied with a tender law. This project is opposed by the President, & I believe all his Secys. By all the Federalists & many of the Republicans in both houses of Congress. It has little if any prospect of success[.] I flatter myself a bank in some form will pass, although it is considered very doubtful by many. The sinking fund will be[...] by pledging to it specific internal duties [...] enable it regularly to pay the interest & gradually to reimburse the principal of the new loans.
By the enclosed bill & Letter of the Secy. of War you are informed of the project adopted for the purpose of recruiting our army. The bill will be taken up in Committee of the whole tomorrow or next day. It will meet great opposition if not defeat in its progress through the house.
I am happy to know that our friend Young does honor to himself & his party in discharging the duties of
the Speaker of the assembly.
Very sincerely yours &c
John W. Taylor
31st. Octr. 1814
this relates to the