Philadelphia, June 8th, 1781.
Dear Sir,
In a private letter, which I did myself the honor to write you on the 6th instant, I announced the appointment I have received from the honorable Congress, to the office of Superintendent of the Finances of the United States of North America; and I now beg leave to address you in my official character.
Congress have thought proper to commit to me the disposition and management of the money granted to the United States by his Most Christian Majesty, in aid of our operations for the present campaign, in order that the same may be solely applied to that use; and for this reason, I have found it necessary to keep the whole sum of this grant separate and distinct from any other, so that its application may at any time be clearly seen. Instead, therefore, of drawing upon your Excellency, who have many other bills running upon you, I have judged it expedient to name Messrs Le Couteulx & Co., bankers in Paris, to receive the money from his Majesty's Ministers, so that they may be able to honor my bills with acceptance whenever they appear, and punctually to acquit them as they fall due. I have written to Messrs Le Couteulx, that you would join and support them in any application that may become needful to his Majesty or his Ministers, which I hope you will readily do.
And, on the other hand, your attention to the interest of this country will lead you to inform yourself whether the house of Le Couteulx and Company, are as perfectly safe and rich as they ought to be, to entitle them to this trust. They are represented to me as one of the safest and most prudent banking houses in Europe; and his Excellency, the Minister of France at this place, now writes to have five hundred thousand livres tournois deposited with them, on account of the United States, subject to my drafts or orders. Should their credit not entitle them to this trust, you will please to interfere, and consult with M. Necker what banker to employ in such case, directing those you do employ, to accept and pay my drafts. However, I imagine these gentlemen will be found sufficiently safe.
Should it be more agreeable to M. Necker that any other banker be made use of, give me the name and write me the propriety of such alteration, and I shall acquiesce in such change immediately on the receipt of your letter, for I have no partiality in public business. All I wish is to act with security, and to the best advantage.
If you think it proper to inquire into the terms on which the bankers will receive and pay this money, and settle their commissions on the most reasonable footing, I shall be happy in your doing so. I do not, however, wish to give you any trouble that is not proper and necessary; being, with the highest respect, your Excellency's most obedient, humble servant,
ROBERT MORRIS.
TO MESSRS LE COUTEULX & CO., BANKERS IN PARIS.
Philadelphia, June 8th, 1781.