The Writings of Thomas Jefferson, Vol. 3 (of 9): Being His Autobiography, Correspondence, Reports, Messages, Addresses, and Other Writings, Official and PrivateJefferson, Thomas
History
The Writings of Thomas Jefferson, Vol. 3 (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
By which you will perceive, that they have lost a third of that fishery in
one year, which I think almost entirely, if not quite, ascribable to the
shutting the French ports against their oil. I have no account of their
southern fishery of the present year.
As soon as I was informed that our bankers had the money ready for the
redemption of our captives, I went to the General of the order of the Holy
Trinity, who retained all his dispositions to aid us in that business.
Having a very confidential agent at Marseilles, better acquainted than
himself with the details, he wrote to him for his opinion and information
on the subject. I enclose you a copy of his answer, the original of which
was communicated to me. I thereupon have authorized the General to go
as far as three thousand livres a head, for our captives, and for this
purpose, to adopt the plan proposed, of sending one of his own religion at
our expense, (which will be small,) or any other plan he thinks best. The
honesty and goodness of his character places us in safety in his hands.
To leave him without any hesitation in engaging himself for such a sum
of money, it was necessary to deposit it in a banker's hands here. Mr.
Grand's were agreeable to him, and I have therefore desired our banker
at Amsterdam, to remit it here. I do not apprehend, in the progress of
the present revolution, anything like a general bankruptcy which should
pervade the whole class of bankers. Were such an event to appear imminent,
the excessive caution of the house of Grand and Company, establishes it
in the general opinion as the last that would give way, and consequently
would give time to withdraw this money from their hands. Mr. Short will
attend to this, and will withdraw the money on the first well-founded
appearance of danger. He has asked me what he shall do with it? Because
it is evident, that when Grand cannot be trusted, no other individual
at Paris can, and a general bankruptcy can only be the effect of such
disorders, as would render every private house an insecure deposit. I have
not hesitated to say to him, in such an event, "pay it to the government."
In this case, it becomes only a change of destination and no loss at all.
But this has passed between us for greater caution only, and on the worst
case supposable; for though a suspension of payment by government might
affect the bankers a little, I doubt if any of them have embarked so much
in the hands of government as to endanger failure, and especially as they
have had such long warning.
Public-domain text, read in full here on John Shaqi.
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