The Writings of Thomas Jefferson, Vol. 2 (of 9): Being His Autobiography, Correspondence, Reports, Messages, Addresses, and Other Writings, Official and PrivateJefferson, Thomas
History
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, your 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. SOULÉS.
PARIS, January 19, 1787.
Public-domain text, read in full here on John Shaqi.
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