The Writings of Thomas Jefferson, Vol. 2 (of 9): Being His Autobiography, Correspondence, Reports, Messages, Addresses, and Other Writings, Official and PrivateJefferson, Thomas
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The Writings of Thomas Jefferson, Vol. 2 (of 9): Being His Autobiography, Correspondence, Reports, Messages, Addresses, and Other Writings, Official and Private
Jefferson, Thomas
United States -- Politics and government -- 1775-1783; United States -- Politics and government -- 1783-1865
SIR,--Congress have as yet come to no resolution as to the general
redemption of paper money. That it is to be redeemed is a principle of
which there is no doubt in the mind of any member of Congress, nor of
any citizen of the United States. A resolution of Congress taken in a
particular case, which stood on the same ground on which the general one
will stand, founds a presumption amounting nearly to a certainty that
they will pay to the holder of every bill what it cost him, or the person
whom he represents at the time of receiving it, with an interest from
that time, of six per cent. They have of course established no rule of
evidence as to the time of receiving the money. I think, however, that it
would be advisable for M. de Lisle, or the representatives of Pileerf, to
establish the time at which their money was received by the affidavits of
such persons as know it. Those of disinterested persons would be best;
but if there is no disinterested person acquainted with the fact, they
will do well to take the affidavits of persons interested. It is probable
this kind of testimony will be admitted; at any rate it can do no harm,
no particular form nor no terms of art are required for these affidavits.
It will suffice if they state facts substantially, and that the oath be
administered by some person who, by the laws of the country in which it is
administered, is authorized to administer an oath. I have the honor to be,
Sir, your most obedient humble servant.
TO M. DU RIVAL.
PARIS, November 7, 1786.
SIR,--I am honored with your letter of the 1st instant, enclosing
inquiries on the subject of the coins of the United States. Some time
during the last year, Congress decided that the Spanish milled dollar
should be their money unit, and that their coins should be in a decimal
progression above or below that. Some intermediate coins will also be
doubtless made for convenience, and indeed they determined that their
smallest copper coin should be the two-hundredth part of a dollar. They
did not determine how much pure silver their money unit should contain,
nor establish the proportion between their silver and gold coins. No other
resolutions were entered into, nor had anything been done to effectuate
these. What is said, therefore, on this subject in the Courier d'Europe is
entirely fable, unless the compiler of that paper has received information
of a later date than the middle of August. I do expect that Congress will
sometime soon complete their system or resolutions on this subject, and
carry them into effect.
I have the honor to be, with sentiment of the highest respect, Sir, your
most obedient, and most humble servant.
P. S. I omitted to observe that most of the gold and silver coins of
Europe pass in the several States of America according to the quantity of
pure metal they contain.
TO M. FAMIN.
PARIS, November 11, 1786.
Public-domain text, read in full here on John Shaqi.
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