C

taining us all, is, I assure you, enormously great: I wish the utility may equal it: I imagine every one of us spends nearly as much as Lord Stormont did. It is true, he left behind him the character of a niggard; and when the advertisement appeared for the sale of his household. goods, all Paris laughed at an article of it, perhaps very innocently expressed," Une grande quantité du linge de table, QUI N'A JAMAIS SERVI.-Cela est tres vraisemblable," say they, "car il n'a jamais donné à manger." But as to our number, whatever advantage there might be in the joint counsels of three for framing and adjusting the articles of the treaty, there can be none in managing the common business of a resident here. On the conIs ecy mode trary, all the advantages in negotiation that result from secrecy of sentiment, and uniformity in expressing it, and ༢༠༡ in common business, from dispatch, are lost. In a court too, where every word is watched and weighed, if a number of commissioners do not every one hold the same language, in giving their opinion on any public transaction, this lessens their weight; and where it may be prudent to put on or avoid certain appearances, of concern, for example, or indifference, satisfaction or dislike, where the utmost sincerity and candor should be used, and would gain, credit, if no semblance of art shewed itself in the inadvertent discourse perhaps of only one of them, the hazard is equal to the number: and where every one must be consulted on every particular of common business, in answering every letter, &c. and one of them is offended if the smallest thing is done without his consent, the difficulty of being often and long enough together, the different opinions, and the time consumed in debating them, the interruption of new applicants in the time by meeting,

5

&c. &c. occasion so much postponing and delay, that ⚫ correspondence languishes, occasions are lost, and the business is always behind-hand. I have mentioned the difficulty of being often and long enough together: this is considerable, where they cannot all be accommodated in the same house: but to find three people whose tempers are so good, and who like so well one another's company, and manner of living and conversing, as to agree well themselves, though being in one house, and whose servants wilba mot, by their indiscretion, quarrel with one another, and by artful misrepresentations draw their masters in to * take their parts, to the disturbance of necessary harmony ; these are difficulties still greater, and almost insurmount able and in consideration of the whole, I wish the congress would separate us.

The Spanish galeons, which have been impatiently expected, are at length happily arrived. The fleet and army returning from Brazil, is still out, but supposed to be on the way homewards. When that and the South Sea ships are arrived, it will appear whether Spain's accession to the treaty has been delayed for the reasons given, or whether the reasons were only given to excuse the delay.

The English and French fleets, of nearly equal force, are now both at sea. It is not doubted but that if they meet there will be a battle. For though England, through fear, affects to understand it to be still peace, and excuses the depredations she has made on the commerce of France by pretences of illicit trade, &c. yet France considers the aswar as begun from the time of the king's message to parliament, complaining of the insult France had given by

191

treating with us, and demanding aids to resent it, and the answers of both houses offering their lives and fortunes,

圈

A

and the taking several frigates are deemed indisputable hostilities. Accordingly orders are given to all the fleets and armed ships, to return hostilities, and encouragement is offered to privateers, &c. An ambassador from Spain is indeed gone to London, and joyfully received there, in the idea that peace may be made by his mediation. But as yet we learn nothing certain of his mission, and doubt his effecting any thing of the kind.

War in Germany seems to be inevitable, and this occasioning great borrowings of money in Holland and elsewhere, by the powers concerned, makes it more difficult for us to succeed in ours. With great esteem, I have the honor to be, &c. B. FRANKLIN.

TO DR. COOPER.q9p plox

On the Depreciation of the American Paper Money.
MY DEAR FRIEND, 1 Passy, April 22, 1779,

I received your valuable letter by the Marquis de la Fayette; and another by Mr. Bradfords I can only write a few words in answer to the latter, the former not being at hand. The depreciation of our money must, as you observe, greatly affect salary men, widows, and orphans. Methinks this evil deserves the attention of the several legislatures, and ought if possible to be remedied

T

by some equitable law, particularly adapted to their ›circumstancesno Istooko all the pains I could in Congress to prevent the depreciation, by proposing first that the bills should bear interest: this was rejected, and they were struck as you see them Secondly, after the first emission I proposed that we should stop, strike no more, but borrow on interest those we had issuedio This was not'

then approved of, and more bills were issued. When from the too great quantity they began to depreciate, we agreed to borrow on interest, and I proposed that in order to fix the value of the principal, the interest shouldube promised in hard dollars. This was objected to as impracticable but I still continue of opinion, that by sending out cargoes to purchase it we might have brought in money-sufficient for that purpose, as we brought in powder, &c. &c. And that though the attempt: must have been attended with a disadvantage, the loss would have been a less mischief than any measure attending the discredit of the bills, which threatens to take out of our hands the great instrument of our defence. The Congress did at last come into the proposal of paying the interest in real money. But when the whole mass of the currency was under way in depreciation, the momentum of its descent was too great to be stopt by a power that might at first have been sufficient to prevent the beginning of the motion. The only remedy now seems to be a diminution of the quantity by a vigorous taxation, of great nominal sums, which the people are more, able to pay in proportion to the quantity and diminished value; and the only consolation under the evil is that the public debt is proportionably diminished with the depreciation : and this by aɔkind of imperceptible tax, every one having paido a part of bits in the fall of value that took place between the receiving and paying such sums as passed through his hands. For it should always be remembered; that the original intention was to sink the bills by taxes, which would as effectually extinguish the debt as an actual redemption. This effect of paper currency is not understood on this side the water. And indeed the whole is a

mystery even to the politicians, how we have been able to continue a war four years without money, and how we

could pay with paper that had no previously fixed fund

appropriated specifically to redeem it. This currency as we manage it is a wonderful machine. It performs cits office when weo issue it; it pays and clothes troops, and provides victuals and ammunition and when we are. obliged to issue a quantity excessive, it pays itself off by depreciation. sa; dewat isat 50A it k lub 19owod bOur affairs in general stand in a fair light throughout Europe. Our cause is universally approved. Our constil tutions of government have been translated and printed in most languages, and are so much admired for the spirit of liberty that reigns in them, that it is generally agreed we shall have a vast accession of national property after the war, from every part of this Continent, and particularly from the British islands. We have only to persevere and to be happy. Yours, &c... erd B. FRANKLIN O te zamg d TO THE HON, JOSIAH QUINCY, Esqim & ad Character of the French Nation.Censures the people of America. Polygon mu у&q GV 9.1 1320w kostblozno, no 901 bis

L

DEAR SIB, Passy, April 22, 1779.95 I received your very kind letter by Mrs Bradford, who appears a very sensible and amiable young gentleman, to whom I should with pleasure render wany service here, upon your much respected recommendation but I understand he returns immediately. gno 9f 16t tadt is with great sincerity I join you in acknowledging and admiring the dispensations of Providence in our favours America has only to be thankful and persevere.