I have the honor to be, &c.
ROBERT MORRIS.
Information mentioned in the above Letter.
The King never promised any subsidy to the United States, and all the sums which they have received from him have been lent or freely given. All those, which have been advanced after the 6th of February, 1778, are to be repaid by the United States except the six millions given last year. All the rest, whether furnished in money or in value, is a debt, which they have contracted with his Majesty.
These advances have been made at the following periods, and are payable with interest, conformably to the acknowledgements and obligations of Dr Franklin.
| Livres. | |
| In 1778, | 3,000,000 |
| In 1779, | 1,000,000 |
| In 1780, | 4,000,000 |
| In 1781, | 10,000,000 |
| ————— | |
| Total, 18,000,000 | |
| From this sum must be taken the gratuitous | |
| subsidy granted last year of | 6,000,000 |
| ————— | |
| Remains 12,000,000 | |
| To this must be added, 1st the produce of | |
| the loan in Holland, | 10,000,000 |
| 2dly, The loan made by his Majesty for the | |
| service of the current year, | 6,000,000 |
| ———— | |
| Total of the capital of the debt contracted | |
| by the United States with his | |
| Majesty, | 28,000,000 |
I am ordered, Sir, to renew to you the demand, which I had the honor to make before, to the purport that Congress should authorise Dr Franklin to consolidate the principal and interest of that debt, by an obligation in proper form. You are so firmly resolved, Sir, to preserve the order you have introduced into your department, that it would be superfluous to reiterate to you the assurance, that his Majesty will under no pretext exceed the sum of six millions, which he has determined to advance to the United States for the current year. This exactness, which is in all cases indispensable, has become still more so now, that the enemy seem determined to adopt a system, which obliges us to turn the greatest part of our resources to a marine. I am persuaded, Sir, that you can have no doubt as to the interest of Loan Office certificates, and that you will not consider it as being at our expense, seeing that no engagement of that sort has ever been taken by us. If bills for this interest should continue to be forwarded, those who draw must provide for the payment of them.
LUZERNE.