Office of Finance, April 14th, 1783.
Gentlemen,
Since the conference I had the honor to hold with you on the 9th instant, my mind has been continually occupied on the important subject to which it relates. My feelings are strongly excited by what I wish for the public, and by what I apprehend, both for them and for myself.
The two points, which relate to my department, are the settlement of accounts and advance of pay. With respect to the first, it is now going on in a satisfactory manner, and will be as speedily accomplished as can reasonably be expected. The arrangements taken on that subject are of such a nature, that I conceive the disbanding of the army need not be delayed until the settlement is completed, because the proper officers may be kept together, although the men be dismissed. The amount of three month's pay, which is stated by the General to be indispensable, is, according to the estimate, seven hundred and fifty thousand dollars. From what I have already stated to Congress, it will appear that the reliance for a great part of this sum, must be on the sales of public property and the taxes. Neither of these sources can produce much immediately, and from the latter there is but little hope at all, unless something can be done to stimulate the exertions of the States.
The receipts being regularly published, I am spared the necessity of disagreeable observations on that topic. To supply so large a sum as is required is utterly impracticable, or, indeed, to obtain any very considerable part. The most, therefore, which can be done, is to risk a large paper anticipation. This is an operation of great delicacy, and it is essential to the success of it, that my credit should be staked for the redemption. Do not imagine, Gentlemen, that this declaration is dictated by vanity; it becomes my duty to mention truth. I had rather it had fallen from any other person, and I had much rather it did not exist. In issuing my notes to the required amount, it would be necessary that I should give an express assurance of payment, and in so doing, I should be answerable personally for about half a million, when I leave this office, and depend on the arrangements of those who come after me to save me from ruin. I am willing to risk as much for this country as any man in America, but it cannot be expected that I should put myself in so desperate a situation. To render the arrangements, which that advance would require, effectual in an official point of view, would be a work of time, and the period of my official existence is nearly arrived.
Disbanding the army in a manner satisfactory to them and to the country, is doubly desirable, and although extremely difficult, is I believe practicable. I shall be very ready at all times, Gentlemen, to give my advice and assistance to those who may be charged with that delicate and perilous undertaking, and I would go as far to effect it myself as any reasonable man could require. But though I would sacrifice much of my property, yet I cannot risk my reputation as a man of integrity, nor expose myself to absolute ruin.
I am, Gentlemen, with perfect respect, &c.
ROBERT MORRIS.