The Diplomatic Correspondence of the American Revolution, Vol. 11
History
The Diplomatic Correspondence of the American Revolution, Vol. 11
United States -- Foreign relations -- 1775-1783; United States -- History -- Revolution, 1775-1783 -- Sources
Success will greatly depend on the pecuniary aid we may obtain from
abroad; because money is necessary to introduce economy, while, at the
same time, economy is necessary to obtain money; besides that a
greater plenty of solid circulating medium is required to support
those operations, which must give stability to our credit,
fruitfulness to our revenue, and activity to our operations. Among
those things, which, after the experience and example of other ages
and nations, I have been induced to adopt, is that of a national bank,
the plan of which I enclose. I mean to render this a principal pillar
of American credit, so as to obtain the money of individuals for the
benefit of the Union, and thereby bind those individuals more strongly
to the general cause by the ties of private interest. To the efficacy
of this plan, as well as to the establishment of a Mint, which would
also be of use, a considerable sum of money is necessary, and, indeed,
it is indispensably so for many other purposes.
Be not alarmed, Sir, from what I have said, with the apprehension
that I am about to direct solicitations to the Court of Versailles;
which, after the repeated favors they have conferred, must be
peculiarly disagreeable. On the contrary, as I am convinced that the
moneys of France will all be usefully employed in the vigorous
prosecution of the war, by her own fleets and armies, I lament every
sum which is diverted from them. Our necessities have indeed called
for her aid, and perhaps they may continue to do so. Those calls have
hitherto been favorably attended to, and the pressure of our
necessities has been generously alleviated; nor do I at all doubt that
future exigencies will excite the same dispositions in our favor, and
that those dispositions will be followed with correspondent effects.
But I again repeat my wish, at once to render America independent of,
and useful to her friends.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account