| "Correspondence Between the Treasurer of the Western Shore of Maryland and the Third Auditor of the United States Treasury, on the subject of the claim of the State of Maryland
upon the United States, for interest due upon sums advanced by the state during the late war."
TREASURER OF THE WESTERN
SHORE (Correspondence with Third Auditor of the United States Treasury) 1826, Maryland Public Documents 1844,MdHR 811983, 2/1/7/26.
Scanned as msaref 5458-51-5257
Printed by order of House of Delegates, 30 January 1845:
House Journal, 1844, p. 143-145. Archives of Maryland Online 641,
p. 143.
U.S. House of Representatives, H.R. 152, 1826:
Authorizing the payment of interest to the State of Maryland.
Notes on 1826 Correspondence:
18 January 1826:
MD claims its owed $286,000 for interest on loans it took out to finance
the war effort ($163,236.50 due, as well as interest on $127,210.83).
30 June 1826:
US pays MD $30,000 for interest due
13 July 1826:
Summary of loans taken out by MD during War of 1812:
19 June 1813: $107,000
21 June 1813: $35,000
10 October 1813: $20,000
1 December 1813: $20,000
1 January 1814: $25,000
18 July 1814: $4,000
27 July 1814: $95,000
15 August 1814: $30,000
Total borrowed (according to MD): $436,000
Payments made to MD by US for war expenses:
October 1818: $40,000
January 1819: $40,000
December 1819: $100,000
January 1821: $94,716.21
December 1821: $4,916.33
Total paid to MD by US: $279,626.54
(Compare to payments found in Western Shore Treasurer records, 5339-268-5)
US requires that MD prove all money it borrowed was used/needed for
war effort. US skeptical that MD used all the money for the war.
15 August 1826:
US says MD only spent $279,626 on war (i.e. the amount that MD was
paid by US 1818-1821). Therefore US will only pay interest on that amount,
unless MD can prove that all $436,000 was war spending. Also, MD should
have sold its US stock, rather than taking out big loans.
18 September 1826:
US will pay MD $61,582.63 for interest; $30,000 was paid on 30 June
1826; rest ($31,582.63) paid 18 September 1826.
9 November 1826:
US to pay MD additional $10,429.49
10 December 1826:
US to pay MD additional $4,980.59
Total interest paid to MD: $76,992.71 (thru' 1826).
Total paid to MD by US, 1818-1826: $356,619.25 (MD claimed $722,000
total).
Note: Compare to Kerr's report of 28 January 1818, which claimed MD was owed $291,364
|
