Amsterdam, June 8th, 1780.
Sir,
In conformity with what we have informed you, that we had engaged for the acceptance of some of the bills drawn on Henry Laurens, since nothing has been heard of him as yet, we accepted those on the first instant, and we hope your Excellency, as well as Dr Franklin, may approve of our proceeding, and of the method we have proposed for our reimbursement, in case Mr Laurens may not appear, or that they should not be provided for in time. Certain it is that those bills should be honored for the credit of America. At the same time, it is not in the power of a mercantile house to stand for the whole; yet the measure proposed may make it easy, since the sums will not be so large but that they may be easily provided for in Spain and France by the Plenipotentiary Ministers. And for ourselves, we only desire to be properly empowered to draw again for any sums we may accept. As there was no time to get the matter previously adjusted, we will go on, and see how our plan may be agreed to and approved of.
We have the honor to be always with the most devoted regard, &c.
JOHN DE NEUFVILLE & SON.
COMMITTEE OF FOREIGN AFFAIRS TO JOHN JAY.
Philadelphia, June 16th, 1780.
Sir,
The embarrassments, which the depreciation of the currency had created in the public affairs at the time of your departure for Europe, were, as you may well remember, very distressing, and have, till lately, continued to increase. Congress, greatly anxious to avail themselves of every possible means of checking this evil, on the 23d of November last ventured on the expedient of drawing bills upon you for one hundred thousand pounds sterling, as you have been already advised by letter of December the 11th following. This they thought they might risk, considering the importance of the object. But as the time of your arrival in Europe could not be counted upon with certainty, and as the negotiation might not be immediately practicable, and moreover, as a disappointment would be highly injurious to the public faith, they determined to draw the bills at six months' sight, which we hope will allow sufficient leisure for every preparation.
It will not be amiss to observe, that Congress have not taken this measure without some circumstances of encouragement, that a fund to satisfy the draft would not be unattainable. Since the agreeable news of your arrival, and to answer a purpose of great national utility, Congress, by their resolution of the 19th instant, have directed bills to be drawn for the additional sum of twentyfive thousand dollars, payable at sixty days' sight. The exertions necessary at this crisis require the command of a considerable sum of money; but these drafts, we hope, will not be increased till we have intelligence from you respecting your prospects and assurances. We have the pleasure to inform you, that from the measures, which have lately been adopted, and with which you are made acquainted by the journals, the finances begin to assume a better appearance, and our public affairs in general will, we hope, be delivered from many of the embarrassments under which they have labored, but we earnestly entreat you to push every possible exertion for procuring aids of money from the Court of Spain, without which we are fearful the measures of Congress fully to restore the currency and prosecute the war with good effect will fall short of the desired success.