The Diplomatic Correspondence of the American Revolution, Vol. 11

by Unknown

Upon a proper representation of your character, situation, and attachments to your country and its cause, the Congress of the United States of America have thought proper to appoint you their Agent at the port, of Havana and Island of Cuba. I take much pleasure in transmitting your commission, which you will find enclosed herein; because my knowledge of you leads me to expert every exertion, which your situation and the circumstances attending it will admit of, in favor of your country.

You will not find any salary annexed to your appointment for this plain reason, that we cannot afford any. It is our present business to reduce salaries heretofore given, and not to create new ones. This appointment, however, may be attended with pecuniary advantages, because a public character may, and no doubt will, point you out to American merchants as the proper person to intrust with their commercial affairs. Continental prizes and other objects may occasionally turn up, which will leave a reasonable commission behind; and you will have the pleasure of serving Congress when necessary, and the citizens and commerce of your country, as often as opportunities for so doing may occur.

I shall now put your talents to the proof. You will find enclosed a letter I have written for his Excellency Governor Navarro (or should he be gone, for his successor) which will unfold to you very fully my intentions. You will find enclosed in it for him, as in this letter for you, the plan of a National Bank, which I have proposed to establish for many valuable purposes. You will observe that the sum proposed as a capital is far short of what it ought to be; but I was afraid of attempting too much at first, and must now endeavor to increase it by other means. If any of your acquaintances in the Havana have a mind to speculate in the American funds, I think they cannot place their money on a more secure or profitable establishment. This Bank will, I believe, exist for ages to come; and I am persuaded the annual dividends will not be less than from eight to ten per cent. They may also have the honor and pleasure of seeing their names enrolled among the first promoters of this useful institution, on which the salvation of our country in some measure depends. Should any of them incline to subscribe, they must send hither money at their own risk; consigning it to whomsoever they please, with power to act for them. I hope you will promote this business, and in order that you may be able to show the profits arising from it, I am to observe, that when once, by punctual payment, the notes of the bank have obtained full credit, the sum in specie, which will be deposited, will be such, that the bank will have the interest of a stock two or three times larger than that which it really possesses. Should M. Miralles, or any of the family be so inclined, I will put any part of their money into the bank, which they may think proper.

By captain James Nicholson, commanding the frigate Trumbull, I send a bill of lading and invoice of five hundred barrels of flour, which is all fresh and good, and a considerable part of it superfine. This flour I have caused to be shipped to your address, on account and risk of the United States of North America. Be pleased to receive it as quickly as may be from the ship, make the most advantageous sale of it, which you can, and remit the net proceeds in Mexican dollars, consigned to my order, for account and at the risk of the United States. I expect you will not charge more than five per cent for transacting the business, that is, two and a half per cent on the sales, and the same on the returns.

I have also enclosed a bill of exchange, drawn by myself on Messrs Le Couteulx & Co. bankers in Paris, to the amount of five hundred thousand livres tournois; this bill is at sixty days' sight, and you may depend it will be punctually paid, for I have the authority of the Court of Versailles to draw it, and every assurance I could wish. You will observe, by my letter to the Governor, that he is to have the refusal of this bill; you will therefore offer it to him in the first instance. When I consider the risk, which must attend sending money from Havana to Cadiz, and the remittances, as well private as public, which are to be made from one place to the other, I cannot but persuade myself, that unless the government and the people are alike blind to their interests, good bills must sell at a very considerable advance. Should the Governor decline taking the bill on Paris, as it is not probable that any one private person would purchase it, you may either remit it to the House of Le Couteulx & Co. in Paris, or to the House of Messrs. J. L. & L. Le Couteulx & Co. at Cadiz, as may be most convenient for your operations. You will then draw on the House to whom you remit the bill, and sell your bills to the same amount. Should you remit to the House in Cadiz, let me know it, that I may write and apprize them of it; but this I shall do provisionally, beforehand, so that they may be prepared for you.

I have also, as you will perceive, written to his Excellency on the subject of certain other bills of exchange, drawn on Mr Jay. You will endeavor to get the money for these, if possible; and in case it is required, you will enter the stipulations there mentioned, as to the shipment of flour. In this last case, get the flour fixed at as high a rate as possible, and let me have due notice, so that I may punctually cause to be fulfilled, whatever contracts you shall, on the part of the public, have entered into.

Should his Excellency be inclined to make those advances of money, which I have so earnestly pressed upon him, you will be able the sooner to despatch the frigate, which I hope will be done without delay. But as there is a risk in placing large sums on board of any one vessel, I am to observe, that if there should be any fast sailing vessels about to leave the Havana at the same time, and if in consideration of convoy, they will take the public money freight free, you will then prudently distribute it among them, and direct Captain Nicholson to give them signals, and to take them under his convoy. But I must caution you, that on no consideration is any private property to be covered as belonging to the public, either to save the duties or for any other purpose. You will, therefore, use all proper vigilance to prevent everything of this sort, should it be attempted. If there are not such vessels as Captain Nicholson and you shall approve of ready to sail, then ship the whole money in the frigate; for the risk of being waylaid by the enemy in consequence of any unnecessary delay, is greater than that of being otherwise intercepted.

It is unnecessary for me to mention to you, that we want money exceedingly. This very measure must convince you of it. Exert yourself therefore to get it, and you will merit much at the hands of your country. Should you not succeed in getting the whole sum I have asked for, get as much as you possibly can; and if the Governor should decline advancing any money on the bills drawn by order of Congress on Mr Jay, perhaps the Intendant may accept your contract for flour, and take these bills in security, or you may possibly borrow on their credit from individuals, to be repaid when I shall send you shipments of flour, which I will cause to be done so soon as I shall hear from you to this effect.

I have forbidden Captain Nicholson to cruise, but should fortune enable him to bring a good prize into Havana, the Continent has one half, and you must send that half to me in dollars. Whatever supplies the frigate is absolutely in need of, you must let her have; but I entreat, that the expenses may be as moderate as possible, and the best way to secure this is to despatch her quickly, for the moment they get clear of the salt water air, and feel, their land tacks on board, every soul of them will try to get his hands into your pockets; but take care.

I have desired Captain Nicholson to consult with and obey you whilst in Havana, and to push off whenever you say the word. I shall send you flour by private vessels, for the sake of getting money back, and write you further, as occasion may require.