Mr Lee presents his respects to his Excellency Count d’Aranda, and begs he will have the goodness to forward the packet, addressed to Count de Florida Blanca, which he has the honor of enclosing him, and which is on business of the last importance, by the first opportunity to his Court. TO COUNT DE FLORIDA BLANCA. Paris, July 18th, 1778. Sir, I have the honor of transmitting to your Excellency the enclosed resolutions of Congress,[38] with my most earnest prayer, that they may be laid immediately before the King. Nothing but the uncommon exigency of the present war, attended with such peculiar circumstances with regard to the United States, would prevail upon them to press so much upon his Majesty’s goodness. That necessity must also plead my pardon for entreating your Excellency to let me have as early an answer as possible. As the United States have the highest confidence in the friendship of the King, they promise themselves that his goodness will afford this loan as a relief to their most urgent distresses. With regard to the interest for the quantum of that, they refer themselves to his Majesty’s justice. Five per cent is the legal interest with them, but I am authorised to give six, if his Majesty should desire it. This interest will be most punctually paid; and they will neglect no means of liquidating the principle, if desired, sooner than the stipulated time, which will be easily accomplished, when peace or some other employment of the enemy’s navy than that of preying upon their trade will permit the export of their produce to European markets. Your Excellency will perceive, that this loan is appropriated to sinking the paper money, which necessity obliged Congress to issue. An infant and unprepared people, compelled to defend themselves against an old, opulent, powerful, and well appointed nation, were driven to this resource of issuing paper. They were to create armies and navies, to fortify towns, erect forts, defend rivers, and establish governments, besides the immense expense of maintaining a war, that pressed them powerfully on all sides. For these purposes they had neither funds established, taxes imposed, specie in their country, nor commerce to introduce it. In this exigency paper money was their only resource, and not having been able hitherto for the same reasons to redeem it, the depreciation, which necessarily followed, threatens the total destruction of their credit, and consequently their only means of maintaining their independence. In this distress their hope is fixed upon his Majesty, and I most earnestly beseech your Excellency so to represent our situation to the King, as may move his royal benevolence to furnish the relief, which will raise an everlasting tribute of gratitude in the minds of the people of the United States. I have the honor to be, with the greatest respect, your Excellency’s most obedient, &c.