[31] _May 14th._ Wrote a letter to the President, promising to accept the office. At this time, however, various reasons occurred to prevent an immediate acceptance of the Commission; but particularly it was necessary to retain my seat in the Assembly of Pennsylvania, in order to lay a foundation for such measures as might tend to their support of me in pursuing the public good, not doubting but their example would have proper influence on the Legislatures of the other States, especially in their determination upon general points, such as their repealing those tender and penal laws, which in their operation had destroyed all public and private confidence and credit; in passing effective tax bills, that might yield substantial aid to the United States for calling in the paper money, that had lost its credit; and is adopting plans of reviving and establishing the credit of such as had been injured in some degree, but which, being necessary in circulation, and originally issued on funds sufficient for its redemption, ought not to be given up to ruin, if possible to prevent it. _Diary._ * * * * * TO THE PRESIDENT OF CONGRESS. Philadelphia, May 17th, 1781. Sir, I beg leave to submit the enclosed plan for establishing a National Bank in these United States, and the Observations on it, to the perusal and consideration of Congress. Anticipation of taxes and funds is all that ought to be expected from any system of paper credit. This seems as likely to rise into a fabric equal to the weight, as any I have yet seen or thought of; and I submit whether it may not be necessary and proper, that Congress should make immediate application to the several States, to invest them with the powers of incorporating a bank, and for prohibiting all other banks, or bankers, in these States, at least during the war.[32] I have the honor to be, &c. ROBERT MORRIS. FOOTNOTES: [32] See the _Plan of the National Bank_ here mentioned, and also the _Observations_ on it, in _John Jay's Correspondence_, Vol. VII. p. 444. * * * * * TO THE PRESIDENT OF CONGRESS. Philadelphia, May 23d, 1781. Sir,