PARIS, January 17, 1787.
GENTLEMEN,--I am honored this day by the receipt of your letter of the
6th instant. Having nothing to do with the matters of account of the
United States in Europe, it is out of my power to say anything to you
as to the payment of the balance due to you. Yet I think it would be
proper for you to write to the "Commissioners of the Treasury," at New
York, on this subject. They are the persons who are to pay it; and as
their Board has been created since the debt was contracted, they may
possibly need information on the subject.
As to your loan office certificates, you would do well to commit them
to some correspondent in America. They will be settled by the table of
depreciation at their true worth in gold or silver at the time the
paper dollars were lent. On that true value the interest has been paid,
and continues to be paid to the creditors annually in America. That the
principal will also be paid, is as sure as any future fact can be. The
epoch is not fixed. It is expected that the State of New York will
shortly accede to the impost which has been proposed. When that shall
be done, that impost will suffice to pay the interest, and sink the
principal in a very few years. I have the honor to be, with much
respect, Gentlemen, your most obedient humble servant.