The Writings of Thomas Jefferson: Library Edition - Vol. 6 (of 20)Jefferson, Thomas
History
The Writings of Thomas Jefferson: Library Edition - Vol. 6 (of 20)
Jefferson, Thomas
United States -- Politics and government -- 1775-1783; United States -- Politics and government -- 1783-1789
most obedient, and most humble servant.
TO M. DU RIVAL.
PARIS, January 17, 1787.
SIR,--You were pleased, in behalf of a friend, to ask information of me
on the subject of the money of the United States of America, and I had
the honor of informing you, by letter of November 7, that no
regulations of their coin had then been made by Congress, as far as I
knew. They had, however, entered into resolutions on that subject,
which have since come to hand. A translation of these will be found in
the Leyden Gazette of some few weeks ago. But it will be necessary to
make the following corrections in the Gazette:
The Gazette dates the resolutions October 10; but they were of August
8. It gives only 365.64 grains of pure silver to the dollar; it should
be 375.64. It states the pound of silver, with its alloy, to be worth
9.99 dollars only, whereas it is fixed at 13.777 dollars; and the pound
of gold, with its alloy, being worth 209.77 dollars, gives the
proportion of silver to gold as 1 to 15.225. These corrections being
made, the resolutions as stated in the Leyden Gazette may be confided
in.
I have the honor to be, with much respect, Sir, your most obedient, and
most humble servant.
TO MESSRS. S. AND J. H. DELAP.
PARIS, January 17, 1787.
GENTLEMEN,--I am honored this day by the receipt of your letter of the
6th instant. Having nothing to do with the matters of account of the
United States in Europe, it is out of my power to say anything to you
as to the payment of the balance due to you. Yet I think it would be
proper for you to write to the "Commissioners of the Treasury," at New
York, on this subject. They are the persons who are to pay it; and as
their Board has been created since the debt was contracted, they may
possibly need information on the subject.
As to your loan office certificates, you would do well to commit them
to some correspondent in America. They will be settled by the table of
depreciation at their true worth in gold or silver at the time the
paper dollars were lent. On that true value the interest has been paid,
and continues to be paid to the creditors annually in America. That the
principal will also be paid, is as sure as any future fact can be. The
epoch is not fixed. It is expected that the State of New York will
shortly accede to the impost which has been proposed. When that shall
be done, that impost will suffice to pay the interest, and sink the
principal in a very few years. I have the honor to be, with much
respect, Gentlemen, your most obedient humble servant.
TO M. SOULES.
PARIS, January 19, 1787.
Public-domain text, read in full here on John Shaqi.
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