EDUCATORS ’ PERSPECTIVE
“ The Capture of the Hessians at Trenton , December 26 , 1776 ,” by John Trumbull . This painting celebrates the important victory by General George Washington at the Battle of Trenton . On the left , as magnified in the call-out , is the severely wounded Lieutenant James Monroe .
Yale University Art Gallery help negotiate the Louisiana Purchase took place during the Jefferson administration . The second mission also involved a trip to Spain in an unsuccessful attempt to acquire part of Florida for the United States , as well as a stint in England to replace Rufus King as minister .
Although his January 5 , 1825 appeal to Congress was sent before the end of his second term as President , he insisted that , “ No bill would , it is presumed , be presented for my signature .” Monroe could wait until the next President took office . Of his claims , Monroe wrote , “ If justice has been withheld from me in any instance , as
I have believed it to be in many , and greatly to my injury it is submitted whether [ justice ] ought not to be rendered .”
Monroe ’ s initial claim identified $ 23,570 owed to him plus $ 30,266 in accrued interest . However , Congress adjourned without acting on his petition . During the next session of Congress in 1826 , a House committee debated Monroe ’ s claim and ultimately decided that Monroe was not entitled to any interest . They recommended that Monroe should be paid $ 15,533 and sent their recommendation to the Senate .
Monroe , insulted at the paltry amount , wrote to his friend Tench Ringgold , “ I have not asked one cent which I did not think myself entitled to on the principle of strict justice , without taking into view considerations of equity , arising from the loans which I made , the compound interest which I have paid for these loans , the sacrifice of property , or by extra services by which much money was saved to the country , & for which I rec ’ d nothing , for expenses incurred in inspecting fortifications & c ., and if at ease I would rather lose the whole than accept less .”
Fortunately for Monroe , the Senate upped the recommendation to $ 29,513 , adding 15 years of simple interest at 6 % on
8 FINANCIAL HISTORY | Fall 2023 | www . MoAF . org