I have the honor to be, &c.
GEORGE WASHINGTON.
TO GEORGE WASHINGTON.
Office of Finance, August 22d, 1781.
Dear Sir,
I arrived in town the day before yesterday. Having taken the earliest opportunities to acquire information, I am sorry to inform you, that I find money matters in as bad a situation as possible. The exchange, by the concourse of venders, has run down to five shillings, and bills are offered at that rate in such great numbers, as to command all the money which is to be disposed of; so that reducing the price of bills still lower, would not command money, or answer any other good purpose.
The paper of this State, (Pennsylvania) is indeed appreciating; but to issue it, in the present moment, would destroy in embryo all my hopes from that quarter, cut off the only resource which I have the chance of commanding, and shake a confidence which has been reposed in me, and which the public interest calls upon me to cherish. I am sorry to observe, in consequence, that you must expect to meet with disappointments; but I assure you, that I will make every possible exertion to place you in the most eligible situation which my means will admit of.
I am, Sir, your most obedient, &c.
ROBERT MORRIS.