Papers of John Adams, volume 16
van Staphorst, and De la Lande & Fynje
We postponed to answer the honour of your Excellency’s favour of 5 febr, in hope to be able to mention Something definitif to you, but it would be disagreable to you to enumerate the objections and difficulties, since hitherto we have not yet the answers of all the
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undertakers, whilst we are continually Endeavouring to Settle the matter, of whch. the Success is yet too incertain, to give your Excellency’s hope for it, and if any thing was capable to augment our application and endeavours, the letter just now received from his Excelly Robt Morris Esqr. Should be most proper to it, Since he mentions us.
“The necessity of making a due provision for our publick engagements, be comes every day more evident on this Side of the water, and the States are in consequence proceeding to that object[”];
“as the period for performing some of my heaviest engagements is now arrived, as I can get a good exchge:, and am convinced you may be in cash to honor it, I this day have drawn on you a further bill of one hunderd thousand Guilders, I am to request Gentlemen that this bill may meet with due notice and payment”1
This shows enough how much his Excelly. Stands in need of money, and that more drafts can yet arrive, and how much therefore the inconvenience should be at the return of protested bills of nonpayment, we Shall therefore omit nothing and wish heartely to become able to advice your Excellency Monday next, when we have final meeting a Satisfactory conclusion; the undertakers press us yet upon more premium, and we have given them to understand, that with one per C: more, that is in all 7 per C: instead of 6 per C:, we should engage your Excellenÿ’s approbation, provided the object can be concluded as proposed to them, whch: is Sir one year postponed the redeeming, and the gratifications so much reduced,2 that it will safe at Least 10000 £ stg to the States, for whch. to safe, it is convenient to pay one per C: more, Since this doth not amount to £2000 stg. by whch. your Excelly can perceive how much we take the American intrest to Mind, and beg to recieve your agreement to this proposal and approbation of our Conduct.
We have the honour to remain / with great esteem. / Sir / Your mostt humb Servants
Nich
s.& Jacob van Staphorst
de la Lande & fÿnje
RC (Adams Papers).
The two quotations are from Robert Morris’ letter of 12 Dec. 1783. The first is followed by Morris’ assertion, regarding the June 1783 army mutiny against Congress, that “with Respect to the Commotion raised in this City and which has occasioned so much Speculation in Europe it was a Thing of no Consequence and what may happen any where.” The second quotation is from the letter’s final paragraph, where Morris indicated that the bill was drawn on Haym Salomon at 120 days’ sight. Salomon was the principal broker for the bills of exchange issued by Morris (Morris, Papers
, 8:807–809;
DAB
).
This was a very significant change in the terms of the loan as represented to JA in the 4 Feb. 1784 letters from the consortium and Wilhem & Jan Willink, both above. Under the new plan the redemption of the principal and accrued interest would begin in 1801 rather than 1800 and would be completed in 1807 rather than 1806. With a reduction in the gratifications this meant that the loan cost considerably less than that proposed earlier. See the plan enclosed with the 16 Feb. 1784 letter from Wilhem & Jan Willink, below.
In his reply of the 12th, JA indicated he would accept the consortium’s alterations in the plan for the loan, but he implored the bankers to write immediately to Morris to provide him with “the true state of the Facts, and the Utter Impossibility there is of procuring Money to Satisfy future Drafts” (LbC, APM Reel 107).
I have recd a Letter from Mr Gerry, at Phila. 23 Nov. Thaxter arrived there the night before. I presume he has written by Mr Reed, and that his Letter is gone to You, as he probably addressed his Letter to Us all.2
Mr Morris has drawn afresh by this Vessell.3 Let me beg of you and the Dr, to advise him to Stop his Hand. If I can possibly, save those already drawn, which however I still despair of, it will be upon Terms so enormously avaricious, that it will raise a tremendous Clamour in America. It is ruinous to borrow money in Europe upon such Terms but it will be more ruinous, to let the Bills go back. my Situation is very disagreable. It is not for me to judge of the Propriety of the draughts. I am only in a ministerial Capacity, and ought to procure the Money if possible, upon any Terms within my Instructions, but to be obliged to go to the Utmost Extent of them, when I know that Such Numbers will blame me for it, because they wont believe the necessity of it, is unpleasant.
There is a Despotism in this Country in the Government of Loans as absolute as that of the grand Senior. five or Six People have all the Money under their Command, and they are as avaricious as any Jews in Jews Quarter. This Country revenges itself in this Way, upon the Powers of Europe for the Insults it receives from them in Wars & Negotiations. I think I could not justify going to Paris, while the Fate of these Bills is depending. You will be so good as to go on with the Dr, in Execution of the last Instructions. if there is any Point, upon which you wish for my Opinion, I will give it you, with Pleasure, at any time, by Letter.— Has Mr Laurens declined acting? How is the Drs Health? and how is Mrs Ridley? if a Commission Should come, to us all to treat with England, as it will be a thorny Work
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and likely to produce Discontents and Clamours, it is not my Intention to withdraw my Shoulders from any Part of the Burthen. You will pardon me for suggesting, that We ought to obtain if We can from every Power We treat with, an Article that American Produce imported into their Ports in American Bottoms, Shall pay no more duties than if imported in Vessells of the subjects of those Powers. Mr Gerry desires his Respects And Affection to you, in very strong and high terms. thinks the Removal of Congress has strengthened the Union, and that the British Proclamations, have had the Same Effect.—
My Respects to your good Family, and believe me / Yours most Sincerely
Will Denmark stipulate, that both her Islands in the W. Indies shall be free Ports to us?4
RC (NNC:John Jay Papers); internal address: “Mr Jay”; endorsed: “Mr Adams / 13 Feb. 1784.” LbC (Adams Papers); APM Reel 107.
This letter was likely sent under JQA’s brief covering note of 13 Feb. to his friend Peter Jay Munro at Paris (NNMus). The younger Adams wrote, “my father desires me, to send you the enclosed Letter, begging you would deliver it to Your Uncle; and at the same time present, my best Respects to him.” JA may have reasoned that a letter from JQA to Munro would receive less official scrutiny from French or Dutch authorities than one from himself to John Jay.
For Gerry’s letter, see vol. 15:369–376. JA apparently assumed that John Thaxter had written to the commissioners regarding his arrival in America, but no such letter has been found. Thaxter did not write to JA until 19 Jan. (vol. 15:462–465).
See the consortium’s letter of 11 Feb., above.
In a 13 Aug. 1783 letter to Robert R. Livingston, JA raised the question of free ports in the Danish islands in connection with a draft Danish-American treaty negotiated by Benjamin Franklin and Ernst Frederik von Walterstorff, chamberlain to the king of Denmark. There JA indicated that Walterstorff had told him that the islands of St. Thomas and St. John would be free ports, but that St. Croix, more important than the others, would not be (vol. 15:224–225). In any event, the treaty was never concluded.