"But a commercial alliance is already ratified, greatly injurious to the trade of Great Britain, and should France succeed in supporting American independence, no one can doubt but other treaties, yet more injurious, will be added; and as to the ability of America to manufacture, she possesses, or can produce a greater variety of raw materials, than any other country on the globe. When she shall have a separate and distinct interest of her own to pursue, her views will be enlarged, her policy exerted to her own benefit, and her interest instead of being united with, will become not only different from, but opposite to that of Great Britain. She will readily perceive, that manufactures are the great foundation of commerce, that commerce is the great means of acquiring wealth, and that wealth is necessary to her own safety. With these interesting prospects before her, it is impossible to conceive, that she will not exert her capacity to promote manufactures and commerce. She will see it to be clearly her interest not only to manufacture for herself but others. Laws will be made granting bounties to encourage it, and duties will be laid to discourage or prohibit foreign importations. By these measures her manufactures will increase, her commerce will be extended; and feeling the benefits of them as they rise, her industry will be excited, until she shall not only supply her own wants, but those of Great Britain herself, with all the manufactures made with her own materials. The nature of commerce is roving; she has been at different periods in possession of the Phoenicians, Carthaginians, and the Venetians; Germany and France lately enjoyed her, and supplied Great Britain with their manufactures. Great Britain at present folds her in her arms."
Surely it was never intended that any American should read this pamphlet, it contains so many arguments and motives for perseverance in our righteous and glorious cause. It is astonishing, however, that, instead of stimulating England to pursue their unjust and inglorious enterprise, it does not convince all of the impracticability of it, and induce them to make peace.
I have the honor to be, &c.
JOHN ADAMS.
TO THE COUNT DE VERGENNES.
Paris, June 20th, 1780.
Sir,
Last evening I received the letter, an extract of which I have the honor to enclose. It is from Mr Gerry, a member of Congress, who has been a member of their Treasury Board from the beginning of the year 1776.[5]
It is much to be regretted, that the Congress did not publish their resolution to pay off the loan office certificates, according to the value of money, at the time of their being respectively issued, with their resolutions of the 18th of March; because this I think would have prevented the alarm, that has been spread in Europe. It will be found, that almost all the interest that European merchants or others have in our funds, lies in these certificates, and that almost all the paper bills now in possession of their factors in America, have been received within a few months; immediately before the 18th of March, and consequently received at a depreciation of forty for one, at least, perhaps at a much greater.