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

MESSRS. WILLINK AND OTHERS TO JOHN ADAMS. - John Adams, The Works of John Adams, vol. 8 (Letters and State Papers 1782-1799) [1853]

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. 8.

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

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MESSRS. WILLINK AND OTHERS TO JOHN ADAMS.

Amsterdam, 2 February, 1785.

Sir,—

Last week we received your much esteemed favor of 10 January, and observed with much pleasure your satisfaction on the flourishing state of the treasury of the United States in our hands. Your Excellency desires our opinion, whether the prospect of making new loans for the congress would be favorable. In answer to this, we heartily wish that we may not very soon be charged to try it, and that before it may become necessary, congress may be put in a situation, by a unanimous consentment of all the American States of the confederation, to point out a sufficient fund for the punctual payment of the capital and interest, which, as you know, has not been the case with the two first loans, and which at present would absolutely be required, because people in this country know that the States have not agreed upon this capital point. This circumstance certainly occasions that the credit of the United States cannot be carried to the point which we believe it deserves in consequence of the inward solidity and promising prospect of the sources of her welfare. Besides this, we are daily questioned about the ratification of the last loan, and we are at a loss what we shall answer, having not received any letters from the office of finance since the time when Mr. Morris resigned.

But, sir, whenever our wishes in these points should be fulfilled, which certainly would strengthen greatly the American credit, we should not advise to try another loan for some time, because we know that a great number of bonds of both of the former remain still in the hands of the undertakers, which, as you know, is the second hand, and there is no great prospect that they will sell their shares so soon, on occasion that we have every day new loans opened here, as, for instance, one of seven millions in favor of the East India Company, one of twelve hundred thousand florins for the States of Zealand, one of two millions for Sweden, and we expect every day a loan for our Province; added to this, large sums are employed in the French loan, and you will easily conclude that money becomes very scarce, which we hope will not be the case next year; and if then congress might wish to pay off the loans in France, and raise the money in this country, it would give us much pleasure to give her again satisfaction with our endeavors, and at the same time to observe an unlimited confidence with our countrymen.

We observe, sir, what you are pleased to mention about the commission which our bankers charge upon the sums, which they pay you on account of your salary. It is our opinion, that properly this commission should be bonified by congress, and even that they should indemnify your Excellency for the trouble and hardships you had on their behalf, would not be amiss. But it being out of our line to decide any thing of that kind, we will only say, that, in case the said commission is charged by congress to your account, we will in future give such orders that you will have no reason to complain about it.

We beg to return our compliments to your worthy family, and remain, &c.

Wilhem and Jan Willink,

Nich. and Jacob Van Staphorst,

De la Lande and Fynje.