Econlib

The Library

Other Sites

Front Page arrow Titles (by Subject) arrow COUNT DE VERGENNES TO JOHN ADAMS. ( Translation. 1 ) - The Works of John Adams, vol. 7 (Letters and State Papers 1777-1782)

Return to Title Page for The Works of John Adams, vol. 7 (Letters and State Papers 1777-1782)

Search this Title:

Also in the Library:

Subject Area: Political Theory
Topic: The American Revolution and Constitution

COUNT DE VERGENNES TO JOHN ADAMS. ( Translation. 1 ) - John Adams, The Works of John Adams, vol. 7 (Letters and State Papers 1777-1782) [1852]

Edition used:

The Works of John Adams, Second President of the United States: with a Life of the Author, Notes and Illustrations, by his Grandson Charles Francis Adams (Boston: Little, Brown and Co., 1856). 10 volumes. Vol. 7.

Part of: The Works of John Adams, 10 vols.

About Liberty Fund:

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.


COUNT DE VERGENNES TO JOHN ADAMS.

(Translation.1 )

Sir,

I have received the letter which you did me the honor to write me on the 16th of this month, and also the extract of the letter addressed to you from Boston, dated the 26th of April.

According to the latter the assembly of Massachusetts has determined to adopt the resolution of congress, fixing the value of the paper money at forty for one in specie. In reading that resolution, I had convinced myself that it had no other object than that of restoring the value of the paper money by lessening its quantity, and that, in consequence of that operation, the paper not brought in would resume its currency according as circumstances should give it a greater or less degree of credit. What would have confirmed me in this opinion, was the liberty given to the possessors of the paper money to carry it to the treasury of their State, or to keep it in their own possession. But, from the information I have since received, and the very letter which you, sir, have been pleased to communicate to me, I have reason to believe that the intention of congress is to maintain the paper money invariably at the exchange of forty for one, and to redeem on that footing all the paper which it has thrown into circulation, in order to reduce insensibly the two hundred millions of dollars, for which it finds itself indebted, to about five millions.

I shall take great care, sir, not to criticize this operation in itself, because I have no right to analyze or comment upon the internal arrangements which congress may consider just and useful; moreover, I readily agree that there may be some situations critical enough to force even the best regulated and longest established governments to adopt extraordinary measures to repair their finances, and to put themselves in a condition to answer the public expenses; and this I am persuaded has been the principal reason that has induced congress to depreciate the money which itself had created.

But while I admit, sir, that that assembly could have recourse to the expedient above-mentioned, in order to lighten the load of its debt, I am far from agreeing that it is just and agreeable to the ordinary course of things to extend the effect to strangers as well as to citizens of the United States. On the contrary, I think it should have been confined to Americans alone, and that an exception should have been made in favor of those same strangers, or, at least, that some means should have been devised to indemnify these for the losses they may suffer by the general law.

In order to make you sensible of this truth, I will not tell you, sir, that it is for the Americans alone to support the expense which may be caused by the defence of their liberty, and that they ought to consider the depreciation of their paper money purely as a tax which ought to be concentrated upon themselves, as the paper money was at first established only to relieve them from the necessity of paying one. I shall content myself to remark to you that the French, if they should be obliged to submit to the reduction proposed by congress, would find themselves victims of the zeal, and I may say of the rashness, with which they have exposed themselves in furnishing the Americans with arms, ammunition, and clothing; in a word, with all things of the first necessity, of which the Americans stood in the most urgent need. You will agree with me, sir, that this is not the fate which the subjects of the King ought to expect; and that very far from dreading, after escaping the dangers of the sea and the vigilance of the English, to see themselves plundered in America, they might, on the contrary, have counted on the thanks of congress and of the whole American people, and have believed their property as secure and as sacred in America as in France itself. It was with this persuasion, and in a reliance on the public faith, that they received paper money in exchange for their merchandise, and kept that paper with a view to employ it in new speculations of commerce. The unexpected reduction of this same paper overturns their calculations, at the same time that it ruins their fortune. I ask you, sir, if these consequences induce you to believe that this operation of congress is fitting to advance the credit of the United States, to inspire confidence in their promises, to invite the European nations to share in the same risks to which the subjects of his Majesty have exposed themselves?

These, sir, are the principal reflections occasioned by the resolution of congress of the 18th of March. I make it a duty to communicate them to you with entire confidence, because you are too enlightened not to feel their force and justice, and too much attached to your country not to use all your endeavors to engage it to retrace its steps, and do justice to the subjects of the King.

I shall not conceal from you that the Chevalier de la Luzerne has already received orders to make the strongest representations on the subject in question, and that the King is firmly persuaded that the United States will be eager to give to him on this occasion a mark of their attachment, by granting to his subjects the just satisfaction which they solicit, and which they expect from the wisdom and justice of the United States.

I have the honor to be, &c.

De Vergennes.

[1 ]It has already been remarked that every important translation herein given is taken from the Diplomatic Correspondence of the Revolution, with such alterations only as seemed more nearly to approach the meaning of the original. But, perhaps, it is proper to state that, in the present case, the changes made affect the entire tone of the paper, which is scarcely felt in the former translation. This instance tends strongly to confirm the view taken at the outset, in this volume, of the propriety of adhering, at least in official documents, to the language in which they are written.