Dear Sir,
I have just received your very friendly letter of the 6th of June past, announcing your appointment to the superintendence of our finances. This gave me great pleasure, as from your intelligence, integrity and abilities, there is reason to hope every advantage, that the public can possibly receive from such an office. You are wise in estimating beforehand, as the principal advantage you can expect, the consciousness of having done service to your country; for the business you have undertaken is of so complex a nature, and must engross so much of your time and attention, as necessarily to injure your private interests; and the public is often niggardly even of its thanks, while you are sure of being censured by malevolent critics and bug-writers, who will abuse you while you are serving them, and wound your character in nameless pamphlets; thereby resembling those little dirty insects, that attack us only in the dark, disturb our repose, molesting and wounding us, while our sweat and blood are contributing to their subsistence. Every assistance that my situation here, as long as it continues, may enable me to afford you, shall certainly be given; for, besides my affection for the glorious cause we are both engaged in, I value myself upon your friendship, and shall be happy if mine can be made of any use to you.
With great and sincere esteem, I am ever, Dear Sir, &c.
B. FRANKLIN.
B. FRANKLIN TO ROBERT MORRIS.
Passy, July 26th, 1781.
Dear Sir,
I have received the letter you honored me with, of the 8th of June past, acquainting me, that as Superintendent of Finance, you have named Messrs Couteulx, & Co. at Paris to receive from his Majesty's Ministers the money granted to Congress, that they may be enabled to honor your bills whenever they appear; and you intimate a desire to be informed of the responsibility of that house.
With regard to the six millions given by the King in aid of our operation's for the present campaign, before the arrival of Mr Laurens, 2,500,000 of it went in the same ship with him in cash; stores equivalent to 2,200,000 more of it were ordered by him, and are shipped; 1,500,000 were sent to Holland, to go in the ship commanded by Commodore Gillon. Add to this, that Captain Jackson, by his orders, purchased clothing and stores in Holland, to the value of about £50,000 sterling, for which he has drawn bills on me, which bills I accepted, and also agreed to pay those drawn on Messrs Laurens, Jay, and Adams; expecting aid from a projected loan of 10,000,000 of livres for our use in Holland. But this loan meeting with unforeseen difficulties, and its success uncertain, I have found myself obliged to stop the money in Holland, in order to be able to save the honor of the Congress drafts, and to comply with my engagements. By these means you have really at present no funds here to draw upon. I hope, however, that Messrs Couteulx, & Co. will be enabled to honor your drafts; but I trust in your prudence that you will draw no more till you have advice of funds provided. And as the laying out so much money in Holland instead of France is disapproved here, and the payment will, therefore, not be provided for, I must earnestly request your aid in remitting that sum to me before December next, when my acceptances will become due, otherwise I shall be ruined with the American credit in Europe.
With regard to the wealth and credit of the House of Le Couteulx, & Co. I have never heard it in question. But as Mr Ferdinand Grand, banker at Paris, and his broker, Sir George Grand, banker in Holland, have been our zealous and firm friends ever since our arrival in France, have aided us greatly by their personal interest and solicitations, and have often been six or seven hundred thousand livres in advance for us, and are houses of unquestionable solidity, I cannot but be concerned at any step for taking our business out of their hands, and wish your future bills may be drawn on Ferdinand Grand, for I think it concerns our public reputation, to preserve the character of gratitude, as well as that of honesty and justice. The commission hitherto charged to us by Mr Grand for receiving and paying our money is a half per cent, which, considering the trouble given by the vast number of small drafts for interest of the loans, appears to me a moderate consideration.