Benjamin Franklin; Self-Revealed, Volume 2 (of 2): A Biographical and Critical Study Based Mainly on his own WritingsBruce, Wiliam Cabell
History
Benjamin Franklin; Self-Revealed, Volume 2 (of 2): A Biographical and Critical Study Based Mainly on his own Writings
Bruce, Wiliam Cabell
Franklin, Benjamin, 1706-1790
second year after his arrival in France, when drafts began to pour in on
him from Congress, he reminded it that the envoys had not undertaken to do
more than to honor its bills for interest on certain specified sums; and
this reminder was frequently repeated. It might as well have been syllabled
to the winds. Though most of the limited cargoes of tobacco and other
products remitted by Congress as a basis of credit fell into the hands of
the ever-watchful British cruisers, almost every ship brought over bills
upon the envoys or large orders for clothing, arms and ammunition. At one
time, they had notice that bills for interest had been drawn on them to the
amount of two million and a half, when they did not have a fifth of that
sum on deposit with their banker. In a letter to the Committee on Foreign
Affairs in 1779, Franklin, who was really our sole envoy for the purpose of
paying such bills, enumerates the great quantities of clothing, arms,
ammunition and naval stores, which the envoys had sent over to America, the
heavy drafts paid by them that Congress had drawn in favor of officers
returning to France, or of other persons, the outlays of the envoys for the
benefit of American prisoners, the amounts advanced by them to other agents
of the United States, the freight charges paid by them and the sums
expended by them in fitting out Captain Conygham and the _Raleigh_,
_Alfred_, _Boston_, _Providence_, _Alliance_, _Ranger_ and other frigates.
"And now," he concluded, "the Drafts of the Treasurer of the Loans coming
very fast upon me, the Anxiety I have suffered, and the Distress of Mind
lest I should not be able to pay them, has for a long time been very great
indeed." This was but one of the earlier crises in the financial experience
which led Franklin to say that his seemed to be the Gibeonite task of
drawing water for all the congregation of Israel. The point of the
observation becomes still more manifest when the reader is told that drafts
were also frequently drawn on Franklin by the European agents of the
Committee of Commerce of Congress, and that even the foreign agents of
individual States of the Union, finding that no American abroad but he
seemed to have any credit, applied to him for assistance in effecting loans
for their principals. Indeed, one agent of the United States, a Mr.
Bingham, did not scruple, without authority from Congress, or any other
source, to notify Franklin that the _Deane_ and the _General Gates_ had
just arrived at Martinique and were in need of overhauling and provisions,
and that he would have to draw upon him for the expense. This was too much
even for Franklin's patience, and, when Mr. Bingham's bills were returned
protested, that gentleman loudly complained that his credit had been
effectually ruined. And, as the necessities of Congress became greater and
greater, it almost wholly ceased to recognize that there were any
limitations upon its right to draw upon Franklin, or that there was even
Public-domain text, read in full here on John Shaqi.
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