which he would arrive at the Hague. A consultation with him, and some
provision for the future, was indispensable, while we could yet avail
ourselves of his powers; for when they would be gone, we should be
without resource. I was daily dunned by a Company who had formerly made
a small loan to the United States, the principal of which was now become
due; and our bankers in Amsterdam had notified me, that the interest on
our general debt would be expected in June; that if we failed to pay it,
it would be deemed an act of bankruptcy, and would effectually destroy
the credit of the Upited States, and all future prospects of obtaining
money there; that the loan they had been authorized to open, of which
a third only was filled, had now ceased to get forward, and rendered
desperate that hope of resource. I saw that there was not a moment to
lose, and set out for the Hague on the 2nd morning after receiving the
information of Mr. Adams's journey. I went the direct road by Louvres,
Senlis, Roye, Pont St. Maxence, Bois le Due, Gournay, Peronne, Cambray,
Bouchain, Valenciennes, Mons, Bruxelles, Malines, Antwerp, Mordick, and
Rotterdam, to the Hague, where I happily found Mr. Adams. He concurred
with me at once in opinion, that something must be done, and that we
ought to risk ourselves on doing it without instructions, to save the
credit of the United States. We foresaw, that before the new government
could be adopted, assembled, establish its financial system, get the
money into the Treasury, and place it in Europe, considerable time would
elapse; that, therefore, we had better provide at once for the years
'88, '89, and '90, in order to place our government at its ease, and our
credit in security, during that trying interval. We set out, therefore,
by the way of Leyden, for Amsterdam, where we arrived on the 10th, I had
prepared an estimate, showing, that

[Illustration: Financial Projection, American Embassy Paris, page068]

Florins.

There would be necessary for the year '88--531,937-10 '89--538,540
'90--473,540 -------------------- Total, 1,544,017-10

Florins.

To meet this, the bankers had in hand, 79,268-2-8 and the unsold bonds
would yield, 542,800

622,068-2-8

Leaving a deficit of 921,949-7-4

We proposed then to borrow a million, yielding 920,000

Which would leave a small deficiency of 1,949-7-4

Mr. Adams accordingly executed 1000 bonds, for 1000 florins each, and
deposited them in the hands of our