Memoir, Correspondence, And Miscellanies, From The Papers Of Thomas Jefferson, Volume 2

I have just received from Messrs. Willincks and Van Staphorsts, a letter of January the 31st, in which are these words: ‘The official communication we have of the actual situation and prospect of the finances of the United States, would render such a partial payment as that to Fiseaux’s house of no avail towards the support of the public credit, unless effectual measures shall be adopted, to provide funds for the two hundred and seventy thousand florins, interest, that will be due the first of June next; a single day’s retard in which would ground a prejudice of long duration.’ They informed me, at the same time, that they have made to you the following communication; that Mr. Stanitski, our principal broker, and holder of thirteen hundred and forty thousand dollars, of certificates of our domestic debt, offers to have our loan of a million of guilders (of which six hundred and twenty-two thousand eight hundred and forty are still unfilled) immediately made up, on condition that he may retain thereout one hundred and eighty thousand guilders, being one year’s interest on his certificates, allowing a deduction of ten per cent, from his said interest, as a compensation for his receiving it in Amsterdam instead of America, and not pretending that this shall give him any title to ask any payment of future interest in Europe. They observe, that this will enable them to face the demands of Dutch interest, till the 1st of June, 1789, pay the principal of Fiseaux’ debt, and supply the current expenses of your legation in Europe. On these points, it is for you to decide. I will only take the liberty to observe, that if they shall receive your acceptance of the proposition, some days credit will still be to be given for producing the cash, and that this must be produced fifteen days before it is wanting, because that much previous notice is always given to the creditors, that their money is ready. It is, therefore, but three months from this day, before your answer should be in Amsterdam. It might answer a useful purpose also, could I receive a communication of that answer ten days earlier than they. The same stagnation attending our passage from the old to the new form of government, which stops the feeble channel of money hitherto flowing towards our treasury, has suspended also what foreign credit we had. So that, at this moment, we may consider the progress of our loan as stopped. Though much an enemy to the system of borrowing, yet I feel strongly the necessity of preserving the power to borrow. Without this, we might be overwhelmed by another nation, merely by the force of its credit. However, you can best judge whether the payment of a single year’s interest on Stanitski’s certificates, in Europe, instead of America, may be more injurious to us than the shock of our credit in Amsterdam, which may be produced by a failure to pay our interest.

I have only to offer any services which I can render in this business, either here or by going to Holland, at a moment’s warning, if that should be necessary.

I have the honor to be, with sentiments of the most perfect esteem and respect, Gentlemen, your most obedient and most humble servant,

Th: Jefferson.

LETTER CXXV.—TO DOCTOR PRICE, February 7, 1788

TO DOCTOR PRICE.

Paris, February 7, 1788.

Dear Sir,

It is rendering mutual service to men of virtue and understanding, to make them acquainted with one another. I need no other apology for presenting to your notice the bearer hereof, Mr. Barlow. I know you were among the first who read the “Vision of Columbus,” while yet in manuscript: and think the sentiments I heard you express of that poem, will induce you to be pleased with the acquaintance of their author. He comes to pass a few days only at London, merely to know something of it. As I have little acquaintance there, I cannot do better for him than to ask you to be so good as to make him known to such persons, as his turn and his time might render desirable to him.

I thank you for the volume you were so kind as to send me some time ago. Every thing you write is precious, and this volume is on the most precious of all our concerns. We may well admit morality to be the child of the understanding rather than of the senses, when we observe that it becomes dearer to us as the latter weaken, and as the former grows stronger by time and experience, till the hour arrives in which all other objects lose all their value. That that hour may be distant with you, my friend, and that the intermediate space may be filled with health and happiness, is the sincere prayer of him who is, with sentiments of great respect and friendship, Dear Sir, your most obedient, humble servant,

Th: Jefferson.

LETTER CXXVI.—TO A. DONALD, February.7, 1788

TO A. DONALD

Paris, February.7, 1788.

Dear Sir,

I received duly your friendly letter of November the 12th. By this time, you will have seen published by Congress, the new regulations obtained from this court, in favor of our commerce. You will observe, that the arrangement relative to tobacco is a continuation of the order of Berni for five years, only leaving the price to be settled between the buyer and seller. You will see too, that all contracts for tobacco are forbidden, till it arrives in France. Of course, your proposition for a contract is precluded.

I fear the prices here will be low, especially if the market be crowded. You should be particularly attentive to the article, which requires that the tobacco should come in French or American bottoms, as this article will, in no instance, be departed from.

I wish with all my soul, that the nine first conventions may accept the new constitution, because this will secure to us the good it contains, which I think great and important. But I equally wish, that the four latest conventions, which ever they be, may refuse to accede to it, till a declaration of rights be annexed. This would probably command the offer of such a declaration, and thus give to the whole fabric, perhaps, as much perfection as any one of that kind ever had. By a declaration of rights, I mean one which shall stipulate freedom of religion, freedom of the press, freedom of commerce against monopolies, trial by juries in all cases, no suspensions of the habeas corpus, no standing armies. These are fetters against doing evil, which no honest government should decline. There is another strong feature in the new constitution, which I as strongly dislike. That is, the perpetual re-eligibility of the President. Of this I expect no amendment at present, because I do not see that any body has objected to it on your side the water. But it will be productive of cruel distress to our country, even in your day and mine. The importance to France and England, to have our government in the hands of a friend or foe, will occasion their interference by money, and even by arms. Our President will be of much more consequence to them than a King of Poland. We must take care, however, that neither this, nor any other objection to the new form, produces a schism in our Union. That would be an incurable evil, because near friends falling out, never re-unite cordially; whereas, all of us going together, we shall be sure to cure the evils of our new constitution, before they do great harm. The box of books I had taken the liberty to address to you, is but just gone from Havre for New York. I do not see, at present, any symptoms strongly indicating war. It is true, that the distrust existing between the two courts of Versailles and London, is so great, that they can scarcely do business together. However, the difficulty and doubt of obtaining money make both afraid to enter into war. The little preparations for war, which we see, are the effect of distrust, rather than of a design to commence hostilities. And in such a state of mind, you know, small things may produce a rupture: so that though peace is rather probable, war is very possible.

Your letter has kindled all the fond recollections of ancient times; recollections much dearer to me than any thing I have known since. There are minds which can be pleased by honors and preferments; but I see nothing in them but envy and enmity. It is only necessary to possess them, to know how little they contribute to happiness, or rather how hostile they are to it. No attachments soothe the mind so much as those contracted in early life; nor do I recollect any societies which have given me more pleasure, than those of which you have partaken with me. 1 had rather be shut up in a very modest cottage, with my books, my family, and a few old friends, dining on simple bacon, and letting the world roll on as it liked, than to occupy the most splendid post, which any human power can give. I shall be glad to hear from you often. Give me the small news as well as the great. Tell Dr. Currie, that I believe I am indebted to him a letter, but that like the mass of our countrymen, I am not, at this moment, able to pay all my debts; the post being to depart in an hour, and the last stroke of a pen I am able to send by it, being that which assures you of the sentiments of esteem and attachment, with which I am, Dear Sir, your affectionate friend and servant,

Th: Jefferson.

LETTER CXXVII.—TO M. WARVILLE, February 12, 1888

TO M. WARVILLE

Paris, February 12, 1888.

Sir,

I am very sensible of the honor you propose to me, of becoming a member of the society for the abolition of the slave-trade. You know that nobody wishes more ardently, to see an abolition, not only of the trade, but of the condition of slavery: and certainly nobody will be more willing to encounter every sacrifice for that object. But the influence and information of the friends to this proposition in France will be far above the need of my association. I am here as a public servant, and those whom I serve, having never yet been able to give their voice against the practice, it is decent for me to avoid too public a demonstration of my wishes to see it abolished. Without serving the cause here, it might render me less able to serve it beyond the water. I trust you will be sensible of the prudence of those motives, therefore, which govern my conduct on this occasion, and be assured of my wishes for the success of your undertaking, and the sentiments of esteem and respect, with which I have the honor to be, Sir, your most obedient, humble servant,

Th: Jefferson.

LETTER CXXVIII.—TO JOHN ADAMS, March 2, 1788

TO JOHN ADAMS.

Paris, March 2, 1788.—Sunday.

Dear Sir,

I received this day, a letter from Mrs. Adams, of the 26th ultimo, informing me you would set out on the 29th for the Hague. Our affairs at Amsterdam press on my mind like a mountain. I have no information to go on, but that of Willincks and Van Staphorsts, and according to that, something seems necessary to be done. I am so anxious to confer with you on this subject, and to see you and them together, and get some effectual arrangement made in time, that I determine to meet you at the Hague. I will set out the moment some repairs are made to my carriage: it is promised me at three o’clock to-morrow; but probably they will make it night, and that I may not set out till Tuesday morning. In that case, I shall be at the Hague on Friday night: in the mean time, you will perhaps have made all your bows there. I am sensible how irksome this must be to you, in the moment of your departure. But it is a great interest of the United States, which is at stake, and I am sure you will sacrifice to that your feelings and your interest. I hope to shake you by the hand within twenty-four hours after you receive this; and in the mean time, I am, with much esteem and respect, Dear Sir, your affectionate friend and humble servant,

Th: Jefferson.

LETTER CXXIX.—TO JOHN JAY, March 16, 1788

TO JOHN JAY.

Amsterdam, March 16, 1788.

Sir,

In a letter of the 13th instant, which I had the honor of addressing you from this place, I mentioned in general terms, the object of my journey hither, and that I should enter into more particular details, by the confidential conveyance which would occur through Mr. Adams and Colonel Smith.

The board of treasury had, in the month of December, informed me and our bankers here, that it would be impossible for them to make any remittances to Europe for the then ensuing year, and that they must, therefore, rely altogether on the progress of the late loan. But this, in the mean time, after being about one third filled, had ceased to get forward. The bankers who had been referred to me for advice, by Mr. Adams, stated these circumstances, and pressed their apprehension for the ensuing month of June, when two hundred and seventy thousand florins would be wanting for interest. In fine, they urged an offer of the holders of the former bonds, to take all those remaining on hand, provided they might receive out of them the interest on a part of our domestic debt, of which they had also become the holders. This would have been one hundred and eighty thousand florins. To this proposition, I could not presume any authority to listen. Thus pressed between the danger of failure on one hand, and this proposition on the other, I heard of Mr. Adams being gone to the Hague to take leave. His knowledge of the subject was too valuable to be neglected under the present difficulty, and it was the last moment in which we could be availed of it. I set out immediately, therefore, for the Hague, and we came on to this place together, in order to see what could be done. It was easier to discover, than to remove, the causes which obstructed the progress of the loan. Our affairs here, like those of other nations, are in the hands of particular bankers. These employ particular, and they have their particular circle of money-lenders. These moneylenders, as I have before mentioned, while placing a part of their money in our foreign loans, had at the same time employed another part in a joint speculation, to the amount of eight hundred and forty thousand dollars, in our domestic debt. A year’s interest was becoming due on this, and they wished to avail themselves of our want of money for the foreign interest, to obtain payment of the domestic. Our first object was to convince our bankers, that there was no power on this side the Atlantic which could accede to this proposition, or give it any countenance. They at length, therefore, but with difficulty, receded from this ground, and agreed to enter into conferences with the brokers and lenders, and to use every exertion to clear the loan from the embarrassment in which this speculation had engaged it. What will be the result of these conferences, is not yet known. We have hopes, however, that it is not desperate, because the bankers consented yesterday, to pay off the capital of fifty-one thousand florins, which had become due on the first day of January, and which had not yet been paid. We have gone still further. The treasury board gives no hope of remittances, till the new government can procure them. For that government to be adopted, its legislature assembled, its system of taxation and collection arranged, the money gathered from the people into the treasury, and then remitted to Europe, must extend considerably into the year 1790. To secure our credit then, for the present year only, is but to put off the evil day to the next. What remains of the last loan, when it shall be filled up, will little more than clear us of present demands, as may be seen by the estimate enclosed. We thought it better, therefore, to provide at once for the years 1789 and 1790 also; and thus to place the government at its ease, and her credit in security, during that trying interval. The same estimate will show, that another million of florins will be necessary to effect this. We stated this to our bankers, who concurred in our views, and that to ask the whole sum at once would be better than to make demands from time to time, so small, as that they betray to the money-holders the extreme feebleness of our resources. Mr. Adams, therefore, has executed bonds for another million of florins; which, however, are to remain unissued till Congress shall have ratified the measure that this transaction is something or nothing, at their pleasure. We suppose its expediency so apparent, as to leave little doubt of its ratification. In this case, much time will have been saved by the execution of the bonds at this moment, and the proposition will be presented here under a more favorable appearance, according to the opinion of the bankers. Mr. Adams is under a necessity of setting out to-morrow morning, but I shall stay two or three days longer, to attend to and encourage the efforts of the bankers; though it is yet doubtful whether they will ensure us a safe passage over the month of June. Not having my letters here to turn to, I am unable to say whether the last I wrote, mentioned the declaration of the Emperor that he should take part in the war against the Turks. This declaration appeared a little before, or a little after that letter, I do not recollect which. Some little hostilities have taken place between them. The court of Versailles seems to pursue immoveably its pacific system, and from every appearance in the country from which I write, we must conclude that its tragedy is wound up. The triumph appears complete, and tranquillity perfectly established. The numbers who have emigrated are differently estimated, from twenty to forty thousand. A little before I left Paris, I received a piece of intelligence, which should be communicated, leaving you to lay what stress on it, it may seem to deserve. Its authenticity may be surely relied on. At the time of the late pacification, Spain had about fifteen ships of the line nearly ready for sea. The convention for disarming did not extend to her, nor did she disarm. This gave inquietude to the court of London, and they demanded an explanation. One was given, they say, which is perfectly satisfactory. The Russian minister at Versailles, getting knowledge of this, became suspicious on his part. He recollected that Spain, during the late war, had been opposed to the entrance of a Russian fleet into the Mediterranean, and concluded, if England was not the object of this armament, Russia might be. It is known that that power means to send a fleet of about twenty-four ships into the Mediterranean this summer. He sent to the Count de Montmorin, and expressed his apprehensions. The Count de Montmorin declared, that the object of Spain in that armament was totally different; that he was not sure she would succeed; but that France and Spain were to be considered as one, and that the former would become guarantee for the latter, that she would make no opposition to the Russian fleet. If neither England nor Russia be the object, the question recurs, Who is it for? You know best, if our affairs with Spain are in a situation to give jealousy to either of us. I think it very possible, that the satisfaction of the court of London may have been pretended or premature. It is possible also, that the affairs of Spain in South America may require them to assume a threatening appearance. I give you the facts, however, and you will judge whether they are objects of attention or of mere curiosity.

I have the honor to be, with sentiments of sincere esteem and respect, Sir, your most obedient and most humble servant,

Th: Jefferson.

P. S. I enclose herewith an extract of a letter from the Count de Vergennes to the French ambassador at the Hague, which will make a remarkable chapter in the history of the late revolution here. It is not public, nor should be made so by us. Probably those who have been the victims of it, will some day publish it.

LETTER CXXX.—TO MR. DUMAS, March 29, 1788

TO MR. DUMAS.

Amsterdam, March 29, 1788.

Sir,

I have now to acknowledge the receipt of your favors of the 14th, 18th, and 23rd instant. I would have preferred doing it in person, but the season, and the desire of seeing what I have not yet seen, invite me to take the route of the Rhine. I shall leave this place to-morrow morning, and probably not reach Paris till the latter end of April. In the moment we were to have conferred on the subject of paying the arrears due to you, a letter of the 20th of February, from the board of treasury, was received, forbidding the application of money to any purpose, (except our current claims,) till the June interest should be actually in hand. Being by the letter, tied up from giving an order in your favor, I return you the letter you had written to Mr. Jay, on the supposition that the order for your arrears was given. It has been suggested, however, that if you could receive bonds of the loan, you could make them answer your purpose, and the commissioners say, this would in no wise interfere with the views of the treasury board, nor the provision for the June interest. I have, therefore, recommended to them in writing, to give you bonds to the amount of your balance, if you choose to take them, rather than to wait. I wish this may answer your purpose. I remember that in the conversation which I had the honor of having with you, on the evening I was at the Hague, you said that your enemies had endeavored to have it believed, that Congress would abandon you, and withdraw your appointments. An enemy generally says and believes what he wishes, and your enemies, particularly, are not those who are most in the counsels of Congress, nor the best qualified to tell what Congress will do. From the evidences you have received of their approbation, and from their well known steadiness and justice, you must be assured of a continuance of their favor, were they to continue under the present form. Nor do I see any thing in the new government which threatens us with less firmness. The Senate, who will make and remove their foreign officers, must, from its constitution, be a wise and steady body. Nor would a new government begin its administration by discarding old servants; servants who have put all to the risk, and when the risk was great, to obtain that freedom and security under which themselves will be what they shall be. Upon the whole, my Dear Sir, tranquillize yourself and your family upon this subject. All the evidence, which exists as yet, authorizes you to do this, nor can I foresee any cause of disquiet in future. That none may arise, that yourself and family may enjoy health, happiness, and the continued approbation of those by whom you wish most to be approved, is the sincere wish of him, who has the honor to be, with sentiments of sincere esteem and attachment, your most obedient and most humble servant,

Th: Jefferson.

LETTER CXXXI.—TO THE COMMISSIONERS OF THE TREASURY, March 29, 1788

TO THE COMMISSIONERS OF THE TREASURY.

Gentlemen,