TO JOHN ADAMS.
Office of Finance, November 5th, 1783.
Sir,
I am honored with your Excellency's favor of the 28th of July from Amsterdam, for which I pray you to accept my acknowledgements. I am perfectly in sentiment with you, that it is best to avoid government interference in the affair of our loan. If there were no other reason I should not like the demand of grateful acknowledgement, which would be erected on that foundation. We hear enough already of our national obligations, and I most heartily wish for my own part, that we could at once acquit them all, even to the uttermost farthing, for I seriously believe, that both nations and individuals generally prove better friends when no obligations can be charged nor acknowledgements and retributions claimed on either side.
I am also very strongly in opinion with you, that remittances from this country would greatly uphold our credit in Europe, for in mercantile life nothing vivifies credit like punctuality and plenteousness of remittance. The plan you propose to obtain them, might also be attended with some good consequences, but there are impediments in the way of its success, which it would be tedious to detail, and which indeed you could not be so perfectly master of without being on the spot. I shall not, therefore, go into that matter at present, and the more especially as we have now good hopes, that the plan of Congress will be adopted by the States. Last evening I received advice, that Massachusetts had acceded, and I have a double pleasure in announcing this to you, as they certainly would not have come in but for the sentiments contained in your letters.
Let me then, my Dear Sir, most heartily congratulate you on those virtuous emotions, which must swell your bosom at the reflection, that you have been the able, the useful, and what is above all other things, the honest servant of a Republic, indebted to you in a great degree for her first efforts towards an independent existence. That you may long live to enjoy those pleasing reflections, which flow from the memory of an active and beneficial exercise of time and talents, is the sincere wish of your most obedient and humble servant,
ROBERT MORRIS.
TO MESSRS WILLINK & CO.
Office of Finance, December 31st, 1783.
Gentlemen,
Upon the 21st of October I valued on you to the amount of seven hundred and fifty thousand guilders as expressed in my letter of the 23d of that month, and in the beginning of this month having received your letter of the 4th of August, and concluding as well from the contents of that letter as from the actual state of things here, that you would be successful in the succeeding months, I gave notice to the gentlemen to whom I had sold the bills mentioned in my said letter of the 23d of October, that I should discount their notes, which has been done accordingly. Thus the United States are become liable to pay any damages, which those gentlemen may sustain, if, in consequence of delay their bills may meet with, those drawn by them in consequence of a reliance on your funds should return protested. The United States will also be liable to the damages, which might arise on my further bill drawn in favor of Mr Haym Solomons for one hundred thousand guilders on the 12th instant, and mentioned in my letter of that date.
Under these circumstances, Gentlemen, and unable to judge what delays the loan may have met with from the causes you have mentioned, or from any other, being also uncertain how far it may have been or may be accelerated from other causes, I must request that in any case whatever all my aforesaid bills may be accepted. You will see from the enclosed copies of letters to the receivers of Virginia and South Carolina, that I am taking measures to put you in cash for any advance which such acceptances may render necessary. These measures are intended with the double view of providing for the interest of your loan or of reimbursing your advance. In the former case you will be in cash before the interest falls due, but at any rate you shall be secured. The disbandment of our army having brought our expenses within the revenue, there remains an excess, which cannot fail to reimburse you even if the loan should totally fail. For I cannot suppose, that you will be much more than half a million in advance, and I am certain that the excess of taxes for current services would easily pay this sum in four or five months, and I am equally certain that I could by anticipation bring that excess forward to your relief at an earlier period if necessary.
My request to you, therefore, Gentlemen, is this, that you accept my bills at any rate, whether you have funds or not, and whether you have or have not the probability of receiving them. If the payments fall due before you find relief, take such measures to obtain money as shall under a view of all circumstances produce that effect with the least loss to the United States. Of these measures I leave to you the entire disposition, and I promise you on the part of the United States to reimburse all losses, interests, costs, and charges, which may accrue thereupon. You will be pleased, Gentlemen, to give me very early notice of your situation, and to point out very particularly the sums which may be needful, and also the articles of this country, which will probably form the best remittance, and on my part I promise to take the earliest measures for making you such remittances. I shall confidently rely on your efforts, and remain with perfect respect, Gentlemen, your most obedient servant,
ROBERT MORRIS.
TO MESSRS WILLINK & CO.
Office of Finance, December 31st, 1783.
Gentlemen,
Your advices of the 26th of September, that the success of our loan with you had been greatly impeded by reports, propagated on the part of Great Britain, did not a little surprise me. In my letter of the 12th of this month, I have given you some slight sketch of the mutiny of a few troops near this city, and this perhaps may be among the circumstances, which have militated and been magnified to our disadvantage. But as I did not then, so I do not now think it worth while to mispend time by the history of a trifling thing, which has no importance in itself, and which might derive some by treating of it seriously. It has always been the common trick of the British and their adherents to assert, that America had neither government, armies, nor resources. To all which, I answer, that America has established her independence. Far be it from me to attempt an injury to the credit of any other nation; on the contrary, let those who would rather trust England than America, make the experiment, and if it prove beneficial, let them rejoice; if it prove otherwise, I shall pity the sufferers.
I should not, indeed, be greatly surprised, that our credit were impaired in any of the absolute monarchies of Europe, because that such governments have no proper ideas of the sacred regard, which is due to pecuniary engagements taken by the public, and because the people have no conception that the government should be unable to command all the wealth of its subjects. But in your country, it is an every day's experience, that determinations of the States-General should meet with obstacles in the different Provinces, and this has been precisely our case in the business of finance. No State has insinuated, that our public debts ought not to be paid; nor indeed does any individual dare to hold up that idea. But differences have arisen about the mode of making provision for them, and such differences of opinion necessarily cause delay. It is, however, with much satisfaction, I inform you, that the different States are coming in one after the other, and I have strong expectations that all of them will soon accede to the plan of Congress, which I formerly transmitted. The government of this country has been vigorous enough to carry us through the war, and it would be strange indeed, if it should all at once become weak in that moment of peace, when other governments usually acquire strength.
For my own part, I cannot believe that such ideas will take place among sensible men; but on this occasion, I will show to his Excellency, M. Van Berckel, the letter I am now writing, and desire him to write candidly to you and to others his sentiments as to the state of this country, whether the people are in peace, obedient to the laws and the government in due force, or whether we are a prey to discord, and our country the theatre of tumult and confusion.
I am, Gentlemen, &c.
ROBERT MORRIS.