TO THE PRESIDENT OF CONGRESS.

Office of Finance, May 27th, 1782.

Sir,

I do myself the honor to enclose certain information, which I have just received in a letter from the Minister of France. I take this occasion to mention, that it is some time since M. de la Luzerne communicated to me the grant of his Court, which was made in the month of December last. I think it my duty to add the persuasion I have, that this grant was made on the Minister's representations, and I cannot omit testifying to Congress my grateful sense of his conduct, and my conviction, that his endeavors have not been wanting still further to promote the interests of the United States.

I should earlier have communicated my intelligence of the loan in question, but I wished to receive the details, which would enable me to judge how much of it was at my disposition. I confess that I did not expect they would have been so unfavorable. I was restrained also by an apprehension, that the exertions of the States would relax, when they should learn that any foreign aid could be obtained; and the situation of our commerce was such, that if I had been enabled to draw for much larger sums, it would have been of no avail, as I could not have got money for the bills.

I have the honor to be, &c.

ROBERT MORRIS.

Information mentioned in the above Letter.

The King never promised any subsidy to the United States, and all the sums which they have received from him have been lent or freely given. All those, which have been advanced after the 6th of February, 1778, are to be repaid by the United States except the six millions given last year. All the rest, whether furnished in money or in value, is a debt, which they have contracted with his Majesty.

These advances have been made at the following periods, and are payable with interest, conformably to the acknowledgements and obligations of Dr Franklin.

Livres.
In 1778,3,000,000
In 1779,1,000,000
In 1780,4,000,000
In 1781,10,000,000
—————
Total, 18,000,000
From this sum must be taken the gratuitous
subsidy granted last year of6,000,000
—————
Remains 12,000,000
To this must be added, 1st the produce of
the loan in Holland,10,000,000
2dly, The loan made by his Majesty for the
service of the current year,6,000,000
————
Total of the capital of the debt contracted
by the United States with his
Majesty,28,000,000

I am ordered, Sir, to renew to you the demand, which I had the honor to make before, to the purport that Congress should authorise Dr Franklin to consolidate the principal and interest of that debt, by an obligation in proper form. You are so firmly resolved, Sir, to preserve the order you have introduced into your department, that it would be superfluous to reiterate to you the assurance, that his Majesty will under no pretext exceed the sum of six millions, which he has determined to advance to the United States for the current year. This exactness, which is in all cases indispensable, has become still more so now, that the enemy seem determined to adopt a system, which obliges us to turn the greatest part of our resources to a marine. I am persuaded, Sir, that you can have no doubt as to the interest of Loan Office certificates, and that you will not consider it as being at our expense, seeing that no engagement of that sort has ever been taken by us. If bills for this interest should continue to be forwarded, those who draw must provide for the payment of them.

LUZERNE.