Volume VII Part 32 (1/2)

”I have the honor to be, Sir, &c.

JOHN JAY.”

As this letter was, among other things, designed to establish the expectations and encouragement given me by the Minister, as to money, in the last conference, by obliging him either to deny them against truth, or admit them, at least, by his silence, I desired Mr Carmichael to deliver it with his own hands, which he accordingly did.

It still remains unanswered.

Your Excellency will be at no loss to perceive, that this was an improper season for pus.h.i.+ng on the treaty, and that it would not have been prudent to have given poignancy to the Minister's feelings for the loss of his frigates, and the trouble of our bills, by disputes about the Mississippi, &c. &c. I therefore did not remind him of the notes he had promised, nor indeed say anything at all about the matter.

About this time I met with a printed copy of an act of the State of Connecticut, reciting and adopting the resolutions of Congress of the 18th of March last, respecting the former and new paper emissions.

This was the first advice I had of those resolutions. The promise of annual interest in Europe appeared to me to be a hardy measure, though, in my opinion, the weakest side of the plan.

Finding the Minister's heart and imagination much attached to his favorite idea of getting American frigates at the expense of the United States, I gave him the following hint.

”Madrid, June 28th, 1780.

”Sir,

”I have the honor of transmitting to your Excellency, herewith enclosed, a copy of an act of the State of Connecticut, just come to hand, in which are recited certain resolutions of Congress, pa.s.sed the 18th of March last.

”These resolutions are calculated to put the American finances on a permanent footing. They direct, among other things, that bills be issued, redeemable in specie, with interest, at the expiration of six years. The interest to be paid at the redemption of the bills, or at the election of the holder annually, at the American Loan Offices, in sterling bills of exchange on the commissioners in Europe.

”Your Excellency will perceive, that when this plan, so well concerted, shall be fully executed, it will furnish the United States with resources equal to all the exigencies of the war, and probably enable them to supply his Catholic Majesty with vessels, &c, &c.

”I take the liberty, therefore, of submitting to your Excellency's consideration, whether it would not be for the benefit of both nations, that his Majesty, on the one hand, should engage his responsibility for the credit of a certain proportion of the sum so to be emitted; and that the United States, on the other hand, should not only pledge their faith to indemnify his Majesty, but also furnish him with certain aids in vessels, &c.

”If your Excellency should think this hint worthy of your attention, it will be easy to improve it, and adjust the particulars.

”I have the honor to be, &c.

JOHN JAY.”

This letter was accompanied with the following one, on the subject of some more bills that had just arrived.

”Mr Jay presents his respectful compliments to his Excellency the Count de Florida Blanca, and has the honor of informing him, that he has been called upon to accept bills to the amount of between ten and eleven thousand dollars; that the far greater part of them belong to Messrs Joyce of this city, who have agreed to wait for an answer until Monday next.

”Mr Jay exceedingly regrets his being obliged to give his Excellency so much trouble, but still flatters himself, that, when his Excellency considers it as his duty which imposes that necessity upon him, his goodness will excuse it.

_Madrid, June 28th, 1780._”

I ought also to add, that I had sent to the Count a representation on the subject of a very high handed stretch of power in the Governor of Teneriffe, towards a prize carried there by some Americans. On the next day I received the following answer to these three papers.

Translation.

”Aranjues, June 29th, 1780.

”The Count de Florida Blanca has had the honor of the three last letters, which Mr Jay has been pleased to write him.

”The first relates to a privateer detained in the Canaries.

On this point he can say nothing until he has obtained some further information thereon.