I have thought proper to enter into these details with you, Sir, in order that you may be able to communicate them to Congress, and that that body may be informed by you of the last financial arrangements, which his Majesty has been pleased to decide upon, in favor of the United States. I have since concerted with Dr Franklin, those measures, which were necessary for fixing the conditions and the terms of payment of the loan of six millions of livres, of which I have been speaking. They were stipulated in a contract made on the 25th of February last, which we signed by virtue of our respective full powers, as we had done with regard to preceding advances, by a contract previously made on the 16th of July, of last year, of which I informed you at the time, and of which we are now expecting the ratification on the part of Congress. Although I do not doubt that Dr Franklin has transmitted this new act to Congress, I have still thought it proper to send the annexed copy of it to you. By the first article, you will see, Sir, that the King lends Congress the sum of _six millions of livres_, payable at the rate of five hundred thousand livres in each of the twelve months of the current year, on condition of the repayment of the capital with interest at five per cent per annum. The second article recapitulates and verifies the preceding aids furnished by his Majesty, and divides them into three distinct classes. The first consisting of the sums loaned, amounting to eighteen millions of livres. The second, of a fund of ten millions, arising from a loan obtained in Holland for the service of the United States, and guaranteed by his Majesty. The third, of subsidies, gratuitously furnished, amounting to nine millions of livres, the gift of which to the United States is confirmed by his Majesty. The third Article fixes the repayment to the royal treasury, of the new loan of six millions, with the interest thereon, at six periods, fixed at the times most convenient for the financial operations of Congress. By the fourth Article, it has been agreed, that the interest on the last loan of six millions, shall not commence till the 1st of January, 1784. The King being pleased to give and remit to Congress the partial interest on the capital for the present year. The fifth and sixth Articles contain stipulations of usage and form. All attesting the sentiments of affection entertained by the King for the United States, and his tender anxiety to contribute to their prosperity. I desire you, Sir, to assure Congress, that these sentiments are deeply engraven on the heart of the King, that his Council feel them no less deeply; and that his Majesty will never cease to take the most lively interest in the welfare of the United States, his allies. You will be pleased to inform me of the reception of this letter, and of the annexed paper. I have the honor to be, &c. DE VERGENNES.