We have the honor of transmitting to your Excellency copies of two Acts of the United States in Congress Assembled of the 20th and 21st of October last. The first act (which has been officially transmitted by the Secretary at War to the States it more immediately relates to) so fully explains the object for which the enclosed Requisitien is made that it becomes unnecessary for this Board to enter into any detail on this subject.

It will be observed by the Legislature of the State in which you have the honor to preside, that the Commissioners of the Treasury are directed to open a loan to the amount of Five hundred thousand Dollars, at the Rate of Six per Cent per annum, for the purpose of carrying into execution the act of the 20th ultimo, on the Credit of the within Requisition.

Such is the state of Public Credit at present that unless the funds appropriated by the Several States for raising their respective Quotas of this special Requisition are more productive than the Taxes which are too much depended on for satisfying their annual Quotas, there is little prospect of our being able to induce Individuals to embark in the proposed Loan. The Consequence of which would inevitably be that the troops proposed to be raised could not be provided for in the essential articles of Provision Clothing and Pay. In which case they might prove as great an evil as other wise they would be a benefit to the Union.

It therefore becomes our Duty to request the favor of your Excellency to lay before the Legislature the enclosed communications with as little delay as possible that such measures for carrying the same into effectual execution may be adopted as the present exigencies of the Union render indispensibly necessary. We have the honor to be, with the greatest respect, your Excellency’s most obedient, and Humble Servants,