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My dear Sir
As you asked my opinion, I deem it right to Say that I think that neither your Bank nor any other Bank Should take the loan and that it would be very hazardous for an individual since he would have to prove to the purchaser in Europe that it had not been originally purchased by a Bank. I believe that the best thing to do for you therefore both officially & individually is to abstain from it altogether, & so apprize the parties at once.
I had a long conversation to day with Mr Hunt the Minister from Texas and suggested to him various changes which I thought useful in the Texas loan and which I have no doubt will be made unless some premature action takes place in regard to it. This you had better prevent.
- Nicholas Biddle
- The correspondence of Nicholas Biddle Dealing With National Affairs 1807