The embarrassments, which the depreciation of the currency had created in the public affairs at the time of your departure for Europe, were, as you may well remember, very distressing, and have, till lately, continued to increase. Congress, greatly anxious to avail themselves of every possible means of checking this evil, on the 23d of November last ventured on the expedient of drawing bills upon you for one hundred thousand pounds sterling, as you have been already advised by letter of December the 11th following. This they thought they might risk, considering the importance of the object. But as the time of your arrival in Europe could not be counted upon with certainty, and as the negotiation might not be immediately practicable, and moreover, as a disappointment would be highly injurious to the public faith, they determined to draw the bills at six months' sight, which we hope will allow sufficient leisure for every preparation. It will not be amiss to observe, that Congress have not taken this measure without some circumstances of encouragement, that a fund to satisfy the draft would not be unattainable. Since the agreeable news of your arrival, and to answer a purpose of great national utility, Congress, by their resolution of the 19th instant, have directed bills to be drawn for the additional sum of twentyfive thousand dollars, payable at sixty days' sight. The exertions necessary at this crisis require the command of a considerable sum of money; but these drafts, we hope, will not be increased till we have intelligence from you respecting your prospects and assurances. We have the pleasure to inform you, that from the measures, which have lately been adopted, and with which you are made acquainted by the journals, the finances begin to assume a better appearance, and our public affairs in general will, we hope, be delivered from many of the embarrassments under which they have labored, but we earnestly entreat you to push every possible exertion for procuring aids of money from the Court of Spain, without which we are fearful the measures of Congress fully to restore the currency and prosecute the war with good effect will fall short of the desired success. We have the honor to be, &c. JAMES LOVELL, ROBERT R. LIVINGSTON, WILLIAM C. HOUSTON. * * * * * TO DE NEUFVILLE & SON, AT AMSTERDAM. Madrid, June 18th, 1780. Gentlemen, Accept my thanks for your favors on the subject of the bills drawn on Mr Laurens. The kind concern you take in the credit and prosperity of the United States merits their acknowledgments, and I shall take the first opportunity of communicating to Congress your very friendly propositions relative to the acceptance of the bills.