I have invariably in my official correspondence, (as indeed upon every other occasion, both public and private) expressed the conviction which I feel, that however the several States may, from a difference in local circumstances, differ in their opinions about the mode of providing for public debts, all of them will concur in the just sentiment, that these debts ought to be most punctually discharged. There cannot, therefore, be any doubt, that the proper provisions will be made, and I am grounded in the assertion that when made, the public credit of America will be the best of any in the world, that it will cost less to maintain it by us, than by any other nation, and that considering the infant state of our cultivation in general, and the frontiers in particular, it is of more importance to us than it can be to any other country. It is also a commercial problem, which admits of absolute demonstration, that the punctual payment of interest on our debts will produce a clear annual gain of more than such interest can possibly amount to. So that the eternal and immutable principles of truth and justice, being for a moment out of the question, and stifling those sentiments of humanity, which arise from a view of what the public creditors must suffer, should their dues be withheld, (if indeed it be possible to stifle such sentiments,) still it will indisputably appear to be the interest of the merchant, as well as of the husbandman and mechanic, to pay their just proportions towards discharging the public engagements. For this plain and simple system of common honesty, while it invigorates the springs of our credit, strengthens also the bands of our union, proceeding with equal motion towards the public weal and private prosperity.
That the labors of our great and glorious revolution may thus be crowned by the impartial hand of justice, and the last stone be thus placed in the arch of our extensive empire, is the ardent wish of your Excellency's most obedient, &c.
ROBERT MORRIS.
TO B. FRANKLIN.
Office of Finance, September 30th, 1784.
Dear Sir,
This is rather a late day to acknowledge your favors of the 25th of December and 15th of June last, but I have always intended in my acknowledgement of them to close our public correspondence, and I have always been disappointed in my expectation of being able speedily to quit this office. That period, however, so ardently desired, is at length nearly arrived, and while I look back on cares and dangers past, I feel an increased emotion of joy in the prospect of future hopes and expectations. But I cannot review the past scene without strong feelings of gratitude and respect for the able and active efforts, which you have made to support the finances of this country. I would to God that your just sentiments on property and taxation were as fully felt as they must be clearly understood in America; but time is as necessary to mellow the judgment of a country as of a man. Happy indeed shall we be if it produce that effect among us.
I am much obliged by your explanation of M. Chaumont's accounts, which are lodged at the treasury. If any insinuations have been made injurious to you upon your connexion with M. Chaumont, they have not reached me, and I am persuaded that none such can make any impressions which ought to give you pain.
I have not remitted bills for the salaries of foreign ministers, because the resolutions of Congress having varied, and Mr Grand having informed me that he should pay them, I have left it as an account unsettled to be arranged by Mr Barclay. And as I cannot doubt that the attachments will have been taken off, and as I have given Mr Grand a credit on the commissioners of the loan in Holland for four hundred thousand livres, and directed Messrs Le Couteulx to pay over to him a balance in their hands, I have no doubt that he will be in cash for the purpose. I agree with you that a fund ought to be set apart for contingencies, and had I continued, and been supported in my administration, such a fund should certainly have been provided. I am at the same time an enemy to contingent accounts, and therefore I should have urged the ascertainment of every allowance as far as possible, thereby curtailing the account of contingencies. But after all, it cannot be annihilated. Congress have hitherto made no determination on this subject. Indeed it is very difficult, and even almost disreputable for them to make arrangements of expenditure, while the means of expenditure are so shamefully withheld by their constituents. These things, however, will mend, at least I hope so.