Papers of John Adams, volume 16
van Staphorst, and De la Lande & Fynje
r.1784.
In answer to your most esteem’d Favor of the 11th. Instt. we have the honour to advise, that you’ll find us at every Time disposed to give your Excellency every information concerning the State of Business of the United States, which you may require from us, and much more so when your Excellency informs us, that the public Service requires we should do so.
There is indeed at present a large Capital in our hands, to the disposition of Congress, the Amount of which, after deducting the dispositions of Mr. Morris which are known to us, and the Intrest
474
due next february, will nearly be a million of Florins.1 We think this will give much pleasure to your Excellency, as from this you may conclude that the two Loans are very nearly compleated and furnished.
We have private Letters from Philadelphia as late as the 31 October, and also from Mr. Morris of the beginning of that Month, with the long wished Answer to our Several Letters to that Gentleman, but no ratification on the last Loan of two Millions.2 We hope however to receive it soon, as it is necessary for the Security of the Moneylenders to deposit the Act with the other original Papers, attending this Business, at the Notary. In case your Excellency should have received any Information concerning the Ratification you’ll oblige us in giving us the Comunication there of.
We remain most respectfully / Sir / Your Most humble & obedt. Servts.
Nic
s.& Jacob van Staphorst.
de la Lande & fynje
The second Loan has been Compleated in October, and that money payed out, the money now in Cash proceeds from the fourth & fifth Million of the first Loan.
RC (Adams Papers).
At this point is a cross, presumably referring to a note at the bottom of the page: “The Intrest falling due next febr: on the Second Loan must be deducted from this million.”
Robert Morris wrote to the consortium on 30 Sept. and 14 October. In his first letter Morris indicated that he agreed with the consortium “in the Sentiment that there is Danger in drawing before we Know that the Funds are placed and I do beleive that the Protest of my drafts forced you into higher Terms than might otherwise have been settled with the Undertakers. But Gentlemen it is no uncommon Thing for a Government to find itself in Situations where nothing is left but a Choice of Evils and where the smallest of those Evils will be a very great one.” In the second letter, with regard to the delayed ratification of the loan, Morris wrote, “I think the Lenders will be guided on that Subject when they find that the adjournment of Congress had rendered the Ratification impracticable until after their next meeting the Period of which now approaches very near” (Morris, Papers
, 9:550, 572).