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

PROPOSALS FOR OPENING A LOAN. - 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.

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PROPOSALS FOR OPENING A LOAN.

Mr. Adams proposes,—

1. If the houses of Fizeaux, Grand & Co., John Hodshon & Son, Messrs. Crommelins, Messrs. Van Staphorst, Messrs. De la Lande and Fynje, and Mr. John de Neufville & Son, will all join together in an American loan, Mr. Adams will open it, without demanding any stipulation for any certain sum.

2. If the first proposition is not agreed to, Mr. Adams will open a loan with as many of those houses as will agree together, and enter into a stipulation with him to furnish the sum of five millions by the month of August.

3. If no number of houses will join, Mr. Adams will open the loan with any one that will first undertake and contract to furnish that sum.

4. Mr. Adams proposes that all these gentlemen should meet and consult upon the matter, and propose their thoughts.