The Diplomatic Correspondence of the American Revolution, Vol. 06
History
The Diplomatic Correspondence of the American Revolution, Vol. 06
United States -- Foreign relations -- 1775-1783; United States -- History -- Revolution, 1775-1783 -- Sources
The title of American banker, for the sake of the distinction of it,
the profit of it, and the introduction to American trade, is solicited
with an eagerness beyond description. In order to obtain it, a house
will give out great words, and boast of what it can do; but not one
will contract to furnish any considerable sum of money; and I
certainly know, let them deceive themselves as they will, and deceive
as many others as they may by their confident affirmations, that none
of them can obtain any considerable sum. The factions that are raised
here about it between the French interest, the Republican interest,
the Stadtholderian interests, and the Anglomane interest, have been
conducted with an indecent ardor, thwarting, contradicting,
calumniating each other, until it is easy to foresee the effect will
be to prevent us from obtaining even the small sums, that otherwise
might have been found. But the true and decisive secret is, there is
very little money to be had. The profits of their trade have been
annihilated by the English for several years. There is, therefore, no
money but the interest of their capitalists, and all this is promised
for months and years beforehand, to book-keepers, brokers, and
undertakers, who have in hand loans open for France, Spain, England,
Russia, Sweden, Denmark, for the States-General, the States of
Holland, the States of Friesland, the East and West India Companies,
&c. &c. &c.
But the circumstance, which will be fatal to my hopes at this time, is
this; there is just now unexpectedly opened a loan of nine millions
for the India Company, under the warranty of the States, in which they
have raised the interest one per cent above the ordinary rate. I had
obtained an agreement of the undertakers for two millions; but before
it was completed, this loan appeared, which frightened the
undertakers, so as to induce them to fly off. I must, therefore,
entreat Congress to make no dependence upon me for money.
There is one subject more, upon which I beg leave to submit a few
hints to Congress. It is that of M. Dumas, whose character is so well
known to Congress, that I need say nothing of it. He is a man of
letters, and of good character; but he is not rich, and his allowance
is too small at present for him to live with decency. He has been so
long known here to have been in American affairs, although in no
public character, that I know of, but that of an agent or
correspondent appointed by Dr Franklin, or perhaps by a committee of
Congress, that, now our character is acknowledged, it will have an ill
effect, if M. Dumas remains in the situation he has been in. To
prevent it, in some measure, I have taken him and his family into
this house; but I think it is the interest and duty of America, to
send him a commission as Secretary to this Legation, and Chargé des
Affaires, with a salary of five hundred a year sterling, while a
Minister is here, and at the rate of a thousand a year, while there is
none.
Public-domain text, read in full here on John Shaqi.
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