Washington Novr 18th 1814
Dear Sir,
I am anxious to obtain and as soon as possible all the information
which can be had in relation to the lead mines—and I know of no
person better able to give correct information on the subject [than]
yourself—any ideas you may think proper to communicate as to the
manner of leasing the public mineral lands will be very acceptable
to me—
I wish to be informed as to the present prices given for mineral—
the profits to be derived from smelting—the probable revenue to be
derived to the United States from leasing—what the prices of
mineral lead were before and since the war—go into as much detail in
your communication as you can find it convenient to make—
The house of Representatives are now engaged in discussing the
Bill for the establishment of a national bank—to revive the public
credit which at present appears to be at a low ebb— As soon as the
fiscal concerns are accomplished we may expect immediate provisions
in detail for raising an army as I hope sufficient to expel entirely the
British from the Continent and to coerce the Indians to friendly
intercourse and [mutilated] us— I think Mr. Munroes first plan
[an] admirable one— By reading the [debates] of congress some of
which I shall send you on the subject of the Bank [you] will better
discover the state and condition of the Banks on this side of the
mountains —than I can inform you by letter Suffice it to say in
this place you cannot get a picaun in silver and bills for one cent are
in circulation No one bank will receive the paper of another
without a discount of from 10 to 12 per cent.—
I had not arrived when the first section of the Bill to incorporate
the U. S. bank was under consideration in committee of the whole—
The territories had all been omitted I succeeded to day in one
amendment authorising the directors to establish offices where soever
they shall think fit in the territories for the purposes of discount
deposit and distribution—and think it would be much better if they
were compelled by the law to establish one such office in each state
and territory whenever a certain amount of the capital stock should
be subscribed in such state or territory— the object would be to
prevent the specie from going out of the State into the Mother Bank
at Philadelphia—but you might as well kick agt the pricks as to
attempt it— It will however be strongly urged I suspect— I shall
try to [have the] first section so amended as to have [offices?] for
subscription opened within our territory— Write me often your ideas
[on] these and other subjects which may occur
R Easton [Rubric]
Be pleased to present my best respects to Mrs Austin and Mr. and
Mrs. Bryan and to Stephen—
I send you a Bank bill for five Cents.—
[Addressed:] Moses Austin Esquire Post Master Mine Potosi
Washington County Missouri Territory