Altogether the offers amounted to about eighteen millions, or two millions more than the sum demanded.

Mr.
Gallatin, clinging to his old plan, endeavored to negotiate this loan at par, by offering a premium of a thirteen years' annuity of one per cent., but found it impracticable.

Indeed, the system of annuity, general in England, has never found favor as an investment in the United States.
This was Mr.Gallatin's last financial transaction.

A few weeks later, at his own request, he severed his actual connection with the Treasury Department and was on his way to St.Petersburg to secure the proffered mediation of the emperor of Russia between the United States and Great Britain.
Thus ended Mr.Gallatin's administration of the national finances.

The hour for saving had passed.