It is in consequence of these same dispositions and of this same disinterestedness, that his Majesty, although he has made no engagement to furnish supplies of money to the United States, and although the active and direct war which he is carrying on against the common enemy absorbs his resources, and ought to exempt him from all accessory and entirely voluntary expenses, is desirous to contribute to the re-establishment of the American finances, so far as his own necessities allow him to do so. He has thought that he should partly fulfil this object, by securing the payment of the interest on the loans, which have been stipulated to be paid in France, presuming that the credit of one of the public funds of the States would effectually contribute to the support of the others, and to the success of the measures, which the wisdom of Congress may adopt on this subject. A society of bankers, established under the authority of the King, has consequently taken upon itself to make the necessary advances, in the form of a loan made to America. The undersigned has not yet received the exact details of this arrangement, but he will have the honor of communicating them, so soon as he shall receive them. The confidence which the King places in the reciprocal attachment of the United States of America to the alliance, can alone induce him to determine upon proceedings, which are useful only to America, burdensome to France, and destitute of all advantage for her. His Majesty hopes to receive reciprocal proofs of these sentiments and feelings, but he neither demands nor expects anything for himself on the part of Congress. He only desires, that the States should employ all the resources at their disposal, in order to provide for their own security and tranquillity. GERARD. * * * * * TO THE PRESIDENT OF CONGRESS. Translation. Philadelphia, May 9th, 1779. Sir,