I have in a former letter estimated the yearly interest on Loan Office certificates, payable in France at two million livres, consequently taking in the months intervening between September and March, the total amount from September the 10th, 1777, to March the 1st, 1782, may be stated at nine million livres; which is just one half of the supplies granted for the years 1778, 1779, 1780, and 1781.
A resolution now before Congress will, I believe, direct that no more bills be drawn for this instant; but Mr Grand in his letter of the 4th of March, tells me he has paid six million two hundred and thirtynine thousand one hundred end eightysix livres, thirteen sous, four deniers, in sixteen thousand eight hundred and nineteen bills, from the 11th of February, 1779, to the 28th of January, 1782. His accounts are now translating, and when that is completed, I shall transmit them to the treasury, and I hope soon to have the accounts of the several loan officers in such a train of settlement, that all these matters may finally be wound up.
Should the Court grant six million livres more for the service of the current year, making twelve million livres in the whole, which to tell you the truth, I do expect, then the sum total in five years will be forty million livres, or eight million annually. And when the occasion of this grant is considered, the magnitude of the object, and the derangement of our finances, naturally to be expected in so great a revolution, I cannot think this sum is by any means very extraordinary. I believe with you most perfectly in the good dispositions of the Court, but I must request you to urge those dispositions into effect. I consider the six millions mentioned to me by the Minister here, and afterwards in your letters, as being at my disposal. The taxes come in so slowly, that I have been compelled and must continue to draw bills, but I shall avoid it as much as possible. In my letters of the 23d and 29th of May, of which I enclose copies, are contained my sentiments as to M. de Beaumarchais' demand. Indeed, if the sums paid to him and others for expenditures previous to the year 1778, and the amount of the interest money, of which the principal was also expended at that time, be deducted, the remaining sum will be considerably less than thirty millions.
I must entreat of you, Sir, that all the stores may be forwarded from Brest as soon as possible, and I shall hope that the Court will take measures to afford you the necessary transports, so that they may come under proper convoy. As to the cargo of the ship Marquis de Lafayette, it is true, that some of it has arrived here from neutral ports, but it is equally true that money was necessary to purchase it, and that money is quite as scarce as any other article. If, however, all the cargo of that ship was like some which I procured, the taking of her has been no great loss, for the clothing was too small to go on men's backs. The goods from Holland we still most anxiously expect. Would to God that they never had been purchased. Mr Gillon, however, is at length arrived, and I hope we shall have those matters, in which he was concerned, brought to some kind of settlement.
I have the honor to be, &c.
ROBERT MORRIS.
TO ALEXANDER HAMILTON.
Office of Finance, July 2d, 1782.
Sir,