Having just now received a short letter from Mr Jay, of the 1st of September, from St Ildefonso, I find it my duty to communicate the contents immediately to the United States in Congress assembled. Mr Jay informs me, that he expects soon to be under the necessity of protesting the bills drawn on him; that Dr Franklin had hitherto saved that necessity, but that he cannot advance much more, unless by the express order of Congress. He says, further, that he has but little hopes of loans or subsidies from Spain; that the ship America is neither sold nor engaged, and that the Spanish Court seems determined to do nothing until the campaign ends. I have the honor to be, &c. ROBERT MORRIS. * * * * * TO MR GRAND. Office of Finance, December 3d, 1781. Sir, When I was called to the superintendence of the American finances, it became necessary to appoint a banker, with whom to deposit the moneys, which were to be granted by the Court for payment of my bills. Your house naturally presented itself to my consideration, but as I knew you to have large accounts open, and as I wished that my transactions should be kept in a separate, clear, and distinct manner, I named for this purpose the house of Messrs Le Couteulx & Co. At the same time, I wrote to his Excellency, Benjamin Franklin, the Minister Plenipotentiary of the United States, upon that subject, and was honored with his answer two days ago. He has mentioned your services to my country in those warm terms of gratitude, which are due to early, vigorous, and disinterested exertions. My deep respect for the opinions of that worthy Minister, my desire, on all occasions, to evince the gratitude of my country, added to those favorable impressions, which your conduct has made upon my mind, have induced me to employ you as a banker in the affairs of the United States. You will be pleased, Sir, to close your former accounts, and, in due season, to transmit them. For subsequent transactions, you will open new accounts, and, from time to time, keep me informed of the state of our affairs. The allowance formerly made of one half will be continued. The intelligence lately received, gives strong hopes that the loan of five millions of guilders, opened in Holland, will have been completed before this reaches you. One million of these is appropriated to purchasing certain articles for our army; and I now direct one million to be deposited with you, and one million with the house of your brother in Amsterdam, subject to my drafts. The remaining two millions are to be shipped for this country.