ght
take the direction of them to very great advantage, and may, I
presume, be equally so in the station you may appoint him in the main
army.

I have the honor to be, &c.

SILAS DEANE.

* * * * *

TO THE COMMITTEE OF SECRET CORRESPONDENCE.

Paris, 1st December, 1776.

Gentlemen,

Among the many important objects, which employ your whole attention, I
presume ways and means for defraying the expenses of the present war
have a capital place. You will therefore give the following thoughts
the weight which they deserve. In the first place, to emit more bills
will be rather dangerous; for money, or whatever passes for such, when
it exceeds the amount of the commerce of a state, must lose its value;
and the present circumscribed state of the American commerce, is
perhaps within the amount of your emissions already made. Your bills,
therefore, must be borrowed of individuals by the public at interest,
or those already emitted paid off by taxes and new emissions. Some
Colonies may now be content with a tax, but it is most probably quite
out of the power of some, and a measure rather impolitic in a majority
of the Colonies or States, _durante bello_.

To effect any considerable loan in Europe is perhaps difficult. It has
not been tried, and on the probability of succeeding in this I will
give my sentiments hereafter. It is obvious, that let the loan be made
when it will, it must have a day fixed for payment, and respect to
some fund appropriated to that purpose. The relying on future taxes is
holding up to the people a succession of distresses and burthens which
are not to cease even with the war itself, whereas could they have a
prospect of paying the expenses of the war at the close of it, and
enjoying the remainder of their fortunes clear of incumberance, it
must greatly encourage and animate both the public and private spirit
in pushing it on with vigor. A loan of six or eight millions, or a
debt of that amount, will probably enable you to finish the war. This
I am confident may be negotiated on terms, which I will propose
hereafter, but previously let it be attended to, that the present
contest has engaged the attention of all Europe, and more, it will
eventually interest all Europe in favor of the United States, the
Russians in the north and Portugal in the south, ex