“an American captain of a ship by the name of Grinnel happened to dine with me, and conversing on our want of a loan, he asked me if I had consulted Mr John Hodshon? The answer was in the negative. I had not supposed that Mr Hodshon, so easy as he was, and such a millionary, would be willing to accept it, or even to advise me in it. Grinnel replied that Mr. Hodshon had been so long and so extensively engaged in American commerce, had so many correspondents in America and so general an acquaintance with Americans in Europe, that he thought it very probable he would assist me, at least with his advice. He added, that if I would give him leave he would converse with Mr.
Hodshon upon the subject. He did so, and brought so favorable an answer that I agreed to meet Mr. Hodshon. In several interviews, he entered very freely and candidly into conversation; said that as our Independence was now acknowledged, a loan was an object of importance and might be of utility to both countries. He doubted not that the most substantial houses in the republic might be induced to favor it, even the house of Hope. If Mr Hope would undertake it or countenance it, success would be certain. No opposition would be made to it from any quarter. I thought Mr Hodshon knew less than I did concerning Mr Hope’s sentiments of American affairs. However, I have reason to think he did sound Mr Hope and received from him only such observations as I had heard reported from him several times before, viz: That America was too young to expect to borrow money at any ordinary interest, or at any interest less than the Batavian republic had been obliged in her infancy to give: i.e. ten or twelve per cent. However this might be, Mr Hodshon said no more about Mr Hope’s assistance or countenance. He undertook the loan himself, and after adjusting all the terms, we mutually executed a contract in form, and the plan was made public”