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Walter Wimple to Gerard Bancker about Arrears and Certificates of Interest, November 14, 1789

Letter from Walter Wimple to Gerard Bancker Esq,  1789

Letter from Walter Wimple to Gerard Bancker Esq, 1789

New York State Archives, NYSA_A0847-77_B1_F2_15
 
Document Description
Letter from Walter Wimple regarding arrears of certificates of interest to Gerard Bancker, Esq., November 14, 1789.
 
Transcription
Claverack 14th Nov. 1789
Dr Sir,
 
Inclosed I send you two Certificates which please to inform me first, if they are Receivable on the arrears now collecting, & also if the Certificates given by yourself for Interest may be received
I am very sorry to give you so much trouble, but I know not how to avoid it.
 
                                                I am, Dr Sir, Respectfully
                                                            Yr Obliged Hum Servt
                                                                     Walter Wimple
Gerard Bancker, Esq.
 
 
Questions
Why are John Gelston and Walter Wimple sending monies to Gerard Bancker?
 
Historical Challenges
Research the effect the current national debt has on the economic well-being of citizens in the US  today.
 
 
Interdisciplinary Connections
Create a series of journal entries from the perspectives of a person who owes a debt and a person who collects the debt. How do their perspectives serve as an example of the economic problems faced by Americans after the Revolutionary War?
 
 

Historical Context
The American Revolution created a large national debt with millions owed to the French and Dutch governments. Individual states were also heavily in debt. Individual investors who purchased war bonds worried that they would never be able to reclaim their investment.
Each state created its own currency which was rejected by other countries in favor of gold and silver. The financial security of the new nation was threatened by a lack of hard currency backed by gold or silver. Congress took steps to repay the debt and stabilize the new American economy.
 
 
Essential Question
How did the American Revolution change the way Americans attempted to satisfy their basic needs and wants?
 
Check for Understanding
Students will answer the following question and support their answer with evidence from the document:
 
What economic problems did American citizens face after the Revolutionary War?