Econlib

The Library

Other Sites

 Front Page arrow Titles (by Subject) arrow TO M. LA MORLEINE - The Works, vol. 5 (Correspondence 1786-1789)

Return to Title Page for The Works, vol. 5 (Correspondence 1786-1789)

Search this Title:

Also in the Library:

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

TO M. LA MORLEINE - Thomas Jefferson, The Works, vol. 5 (Correspondence 1786-1789) [1905]

Edition used:

The Works of Thomas Jefferson, Federal Edition (New York and London, G.P. Putnam’s Sons, 1904-5). Vol. 5.

Part of: The Works of Thomas Jefferson, 12 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.


TO M. LA MORLEINE

j. mss.

Paris, June 3, 1786.

Sir,

—It is six years since the paper money of New England has ceased to circulate as money. It is considered at present as making a part of the national debt, and that the holders of it will be entitled to receive from the public as much gold or silver as the paper money could have brought at the time it was received by the holder with an interest of 6 per cent. per annum. But as yet no precise arrangements have been taken for the paiment either of principal or interest. Most of the subjects of France, having paper money, have deposited it in the hands of the French Minister or Consul at New York, that paiment may be demanded whenever it shall be provided by Congress. There are even speculators in America who will purchase it. But they will give much less than it is worth. As for myself I do not deal in it. I am Sir your very humble servt.