I have the honor to be, &c.
ROBERT MORRIS
TO THE PRESIDENT OF CONGRESS.
Office of Finance, September 30th, 1784.
Sir,
I had the honor of mentioning to Congress, upon the 4th of May, the advices then just received from Holland, and to pray their sentiments upon the loan, which Mr Adams had (upon a view of all circumstances) found it necessary to open. I was the more anxious on this subject, as I saw a probability of the speedy completion of this loan for two millions of guilders, and therefore if not approved of, no time should have been lost in stopping the further progress.
Since writing that letter, I have received the scheme of the loan, and the copy of the obligation, both of which are here enclosed for the inspection and consideration of the United States in Congress. It is probable, that not only this loan, but also the former loan of five millions will both be filled before any determinations of Congress can arrive in Europe; for the concurrence of many States to the measures proposed by Congress, and the resolutions of several legislative bodies expressing their sense of the necessity of enabling the United States punctually and honorably to discharge their engagements have reanimated that credit, which for evident reasons had languished and died away.
The public accounts will sufficiently explain the situation of money matters, and the gentleman charged with the department of the finances will of course furnish such information as may from time to time be required; I shall not therefore go any further into the details of this business, but must express to Congress my opinion of the loan generally; and certainly, if we consider the very untoward circumstances in which it was undertaken, very great praise is due to the persons concerned in proposing, adopting, and pursuing it. This sentiment, which I have constantly felt has not been declared until the present moment, because no suspicion can now arise, that what I say, is dictated by a view to influence their future exertions, seeing that my political existence must be at an end before the contents of this letter can possibly be transmitted.