| Washington and the Potomac 709
of which however is to be deducted loss by bad debtage
It seems unnecessary to enter into any further Comment on the Benefits
arising from the Circulation even of this small Sur11-doubtless many
Industrious Persons might therefrom be furnished with the means of
Prosecuting their Improvements and shall only observe that the Sutn be-
ing so Small in Comparison to the Trade of Potowmack even in its pres-
ent State and the number of People who are closely- interested in the
success of this Beneficial Undertaking, which can never be executed upon
snore advantageous terms to themselves and Posterity it is but reasonable
to Presume that notwithstanding our Prejudices against Paper, there can
be no doubt but that this Money will Circulate freely.
As the Nature of Banking may not have come under your Considera-
tion, I thou`lit that a few observations on that Subject might not be con-
strued as an intrusion on Your Patience but, at Present I am unavoidahly
called off, and altho after this delay it seems strangely ridiculous to
offer
an excuse for the hurry and incorrectness with which this is wrote yet
such has been my case that this is the first day of rest I have enjoy'd
not having been two days in a Place since I had the pleasure of seeing
voa.2 I trust that I shall not from the freedom which I have taken in
communicating my Sentiments incur your Censure as a Projector. The
Profit which the Public might reap from the Circulation of Paper is
apparently considerable. I have therefore ever thought that the States
only ought to possess these Advantages ancq enjoy the -Monopoly, But as
there is reason to fear that the Public Benefite may be overlooked amidst
that increasing eagarness with which Individuals amongst us seems to
prosecute their Particular Interests I have therefore been induced to
trouble you, hoping that as the Sum here intended to be Circulated is so
triffiing and the services proposed to be rendered of such Public Advan-
tage and Utility that this Money would be received with avidity and
Circulated freely in which case it might also prove a means of effacing
our Prejudices against Paper and pave the way for future Etnession.
Should you however Sir deem the proposals inconsistent I have inclosed
the outlines of another mode of Executing this important Business
upon the same principles,' that Works of this kind are most commonly
undertaken and executed. I remain, most Worthy Sir with perfect
Respect and Esteem Your very Obd't Serv. NORTID. BRUCE.
`V~'ASIIINGTON COUNTY
13 Novembr 1784 )
General Washington
Mount Vernon
[Entdorsemew:] From Norman Bruce, 13 Nov 1784
x11_ I;xCi.OS11RE IN NOR\IAND BRUCE'S LETTER.
Proposals of opening the Navigation of Potowmack for which pur-
pose the Sum of iso,ooo dollars shall be subscribed and divided into
Severity five Shares of zooo dollars each.
' An interview with Colonel Normand Bruce is mentioned in Washington's
diary, Sept. 6, 1784. Ile was at Bath at this time. Washington and the West,
PP. 35, 36.
'The enclosure is the next document.
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