Before these startling changes were fully understood by either party,
the Fifth Congress came to its end, on the 4th March, 1799, and Mr.
Gallatin at once set out for Fayette to rejoin his wife and struggle
with the financial difficulties that now perplexed his mind. After long
hesitation, he had taken on the part of his firm a contract for
supplying arms to the State of Pennsylvania. Like most of his financial
undertakings, this became a source of loss rather than of profit, and it
was probably fortunate that his acceptance of the Treasury Department in
1801 obliged him to dissolve his partnership and wind up its affairs.
GALLATIN TO HIS WIFE.
PHILADELPHIA, 7th December, 1798.
... Once more I am fixed at Marache's, and write you from the
fire-corner in my old front room. I wrote you a few lines from
Lancaster, which I hope you have received. I could not make my letter
any longer, and it was with difficulty I could even write at all. I
arrived there after dark, mistook the tavern I intended to have lodged
at, and took my lodgings at an old German Tory who happened to know me.
He was a little tipsy, followed me to my room where I was writing, in
order to have some political conversation with me, and was, at the time
whilst I was writing my letter to you, reading me a lecture to prove to
me that the Hessian fly was improperly so called, that Porcupine had
proven it to be of French extraction, and that it was a just cause of
war against that nation. Saturday night I lodged comfortably at
Downingstown, where many kind inquiries were made about you. The weather
changed during the night, and Sunday we had almost all day a cold,
chilling rain. William Findley joined me in the morning at Downing's,
and we made shift to go that evening as far as Buck. Monday was a fine
day, and at nine o'clock I was at breakfast in Marache's parlor with Mr.
Langdon, who arrived a few minutes after me. Havens joined us the same
day, as did Elmendorf the following and Nicholas yesterday. Dr. Jones is
not yet in town.... The account of my business in Europe is as
followeth: 1st. They have sold my grandfather's estate and paid all his
debts, which (on account of losses of rents, &c.) amounted to about 200
dollars more than what they sold the estate for. The price it sold for
is less than one-half of what it was worth before the French revolution.
But my orders were positive to sell and to pay all the debts, although
they amounted to more than the proceeds of the estate, in order to do
full honor to the memory of my parents. Thus their inheritance has cost
me 200 dollars, instead of leaving me 6000 as they expected, but I could
not have reconciled it to my feelings that any individual had lost a
single half-penny either by me or by them. 2d. My annuities in France,
amounting to about 3000 livres a year (555 dollars), have in four years
produced 369 livres cash (not quite 80 dollars), and the principal,
Public-domain text, read in full here on John Shaqi.
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