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American statesman (1759–1817) who served as Secretary of the Treasury under James Madison. ALS signed “A. J. Dallas,” one page both sides, 8 x 10, February 10, 1798. Handwritten letter conveying his opinion on a mortgage, in part: "The question proposed is— 'If Mr. Pratt sells and assigns his Notes and interest in the mortgage to A.B., and A.B. sells and assigns the same to the Mortgagor (the original instrument of Mortgage accompanying the several transfers) will it impair the rights of the Holders of the other Notes issued…not the property of Mr. Pratt?' The answer:—Mr. Pratt has, unquestionably, a right to sell and assign his notes and interest in the Mortgage…whoever takes such assignment, with the original Mortgage would be considered in Equity as a Trustee for the Holders of the other Notes, after satisfying the notes belonging to Mr. Pratt, independent of the positive provision for returning the original Mortgage." Impressively cloth-matted and framed with a portrait and plaque to an overall size of 34 x 22.5, with a window in the backing for viewing the reverse. In fine condition, with minor paper loss along the folds and hinge.
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