PARIS, December 12, 1787.
DEAR SIR,--In the month of July, I received from Fiseaux & Co. of
Amsterdam, a letter notifying me that the principal of their loan to
the United States would become due the first day of January. I answered
them, that I had neither powers nor information on the subject, but
would transmit their letter to the board of treasury. I did so, by the
packet which sailed from Havre, August the 10th. The earliest answer
possible, would have been by the packet which arrived at Havre three or
four days ago. But by her I do not receive the scrip of a pen from
anybody. This makes me suppose, that my letters are committed to Paul
Jones, who was to sail a week after the departure of the packet; and
that possibly, he may be the bearer of orders from the treasury, to
repay Fiseaux's loan with the money you borrowed But it is also
possible, he may bring no order on the subject. The slowness with which
measures are adopted on our side the water, does not permit us to count
on punctual answers; but, on the contrary, renders it necessary for us
to suppose, in the present case, that no orders will arrive in time,
and to consider whether anything, and what, should be done? As it may
be found expedient to transfer all our foreign debts to Holland, by
borrowing there, and as it may always be prudent to preserve a good
credit in that country, because we may be forced into wars, whether we
will or not, I should suppose it very imprudent to suffer our credit to
be annihilated, for so small a sum as fifty-one thousand guilders. The
injury will be greater, too, in proportion to the smallness of the sum;
for they will ask, "How can a people be trusted for large sums, who
break their faith for such small ones?" You know best what effect it
will have on the minds of the money lenders of that country, should we
fail in this payment. You know best, also, whether it is practicable
and prudent for us, to have this debt paid without orders. I refer the
matter, therefore, wholly to your consideration, willing to participate
with you in any risk and any responsibility which may arise. I think it
one of those cases, where it is a duty to risk one's self. You will
perceive, by the enclosed, the necessity of an immediate answer, and
that, if you think anything can and should be done, all the necessary
authorities from you should accompany your letter. In the meantime,
should I receive any orders from the treasury by Paul Jones, I will
pursue them, and consider whatever you shall have proposed or done, as
_non avenue_.
I am, with much affection, dear sir, your most obedient, and most
humble servant.