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4o CORRESPONDENCE AND PUBLIC PAPERS.
BENJAMIN FRANKLIN TO JAY.1
Passy, June 30, 1781.
Sir:
You acquaint me that bills have appeared, drawn on you
in March last, and ask very properly if this can be reconciled
to the obvious dictates of prudence and policy. It cannot.
And if you are unable to pay them, they must be protested ;
for it will not be in my power to help you. And I see that
nothing will cure the Congress of this madness of drawing
upon the Pump at Aldgate, but such a proof that its well has
a bottom.
ROBERT MORRIS2 TO JAY.
Philadelphia, July 4th, 1781.
Dear Sir :
The derangement of our money affairs, the enormity of
our public expenditures, the confusion in all our departments, the languor of our general system, the complexity
and consequent inefficacy of our operations; these are some
among the many reasons, which have induced Congress to
the appointment of a Superintendent of Finance. I enclose
you copies of their resolutions on that subject, with such
other papers as will fully explain to you my appointment
and powers.
The use of this office must be found in a progress towards
the accomplishment of these two capital objects, the raising a revenue with the greatest convenience to the people,
and the expenditure of it with the greatest economy to the
public. . . .
While we have neither credit nor means at home, it is idle
to expect much from individuals abroad. Our foreign credit
must be nurtured with tenderness and attention before it can
1 From Hale's " Franklin in France."
8 Lately appointed Superintendent of Finance by Congress. This letter was
followed by another inclosing his plan for a National Bank. See " Diplomatic
Correspondence," viii,, 438.
| Title | The correspondence and public papers of John Jay - 2 |
| Creator | Jay, John |
| Publisher | G.P. Putnam's Sons |
| Place of Publication | New York, London |
| Date | [1890-93] |
| Type | Books/Pamphlets |
| Title | 00000061 |
| Type | Books/Pamphlets |
| Transcript | 4o CORRESPONDENCE AND PUBLIC PAPERS. BENJAMIN FRANKLIN TO JAY.1 Passy, June 30, 1781. Sir: You acquaint me that bills have appeared, drawn on you in March last, and ask very properly if this can be reconciled to the obvious dictates of prudence and policy. It cannot. And if you are unable to pay them, they must be protested ; for it will not be in my power to help you. And I see that nothing will cure the Congress of this madness of drawing upon the Pump at Aldgate, but such a proof that its well has a bottom. ROBERT MORRIS2 TO JAY. Philadelphia, July 4th, 1781. Dear Sir : The derangement of our money affairs, the enormity of our public expenditures, the confusion in all our departments, the languor of our general system, the complexity and consequent inefficacy of our operations; these are some among the many reasons, which have induced Congress to the appointment of a Superintendent of Finance. I enclose you copies of their resolutions on that subject, with such other papers as will fully explain to you my appointment and powers. The use of this office must be found in a progress towards the accomplishment of these two capital objects, the raising a revenue with the greatest convenience to the people, and the expenditure of it with the greatest economy to the public. . . . While we have neither credit nor means at home, it is idle to expect much from individuals abroad. Our foreign credit must be nurtured with tenderness and attention before it can 1 From Hale's " Franklin in France." 8 Lately appointed Superintendent of Finance by Congress. This letter was followed by another inclosing his plan for a National Bank. See " Diplomatic Correspondence," viii,, 438. |
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