This deposit I hope may, without inconvenience, be made in thirty days after the receipt of your letter; and I shall proceed to draw on Messrs Le Couteulx & Co. in full confidence thereof, until my bills on them shall amount to the said sum of five hundred thousand livres tournois, when I will give you timely notice, that another deposit may be made for the like purpose, and by this means I hope we shall occasion as little trouble to his Majesty's Minister of Finance as the nature of this transaction will admit of. With great respect and esteem, &c. ROBERT MORRIS. * * * * * CIRCULAR RESPECTING THE NATIONAL BANK. Philadelphia, June 11th, 1781. Sir, No doubt you have seen in the public papers, the plan for establishing a National Bank, the necessity of which everybody sees, that allows himself the least time for reflection on the present state of public credit. All the public bodies in America have, more or less, lost the confidence of the world as to money matters, by trying projects and applying expedients to stop a course of depreciation, which original errors had fixed too deeply to admit of any radical cure. It is vain to think of carrying on war any longer by means of such a depreciating medium, and at the same time an efficient circulation of paper that cannot depreciate, is absolutely necessary to anticipate the revenues of America. A National Bank is not only the most certain, but will prove the most useful and economical mode of doing so. It is, therefore, of the utmost importance that this first essay, confined as it is in point of capital, should be brought into action with the greatest expedition. I am sensible that plans of public utility, however promising and pleasing they may be on their first appearance, soon grow languid, unless it be the particular business of some man, or set of men, to urge them forward; this may be said to be my duty in the present instance. But as I cannot be everywhere, I must apply for support to gentlemen of your character and zeal for the service of their country, requesting in the most earnest manner, that you will urge your friends and fellow citizens to became proprietors of this bank stock.