other countries, and
inevitably must be so in the highest degree to this; an institution,
that most probably will continue as long as the United States, and
that will become as useful to commerce and agriculture in the days of
peace, as it must be to government during the war.

The capital proposed is but small, when the extent and riches of the
United States are considered; but when put in motion, the benefits
flowing from it will be so perceptible, that all difficulty about
increasing the capital or securing its credit, will vanish, and we
shall only have to appeal to the interest of mankind, which, in most
cases, will do more than their patriotism; but there have been, and
will continue to be, many instances, where interest is sacrificed to
patriotism; and in that belief, I ask you to devote some of your time
to this infant plan, which, as it gathers strength, may in the end
prove the means of saving the liberties, lives, and property of the
virtuous part of America. My good opinion of you is an excuse for
giving you this interruption.

I am, Sir, yours, &c.

ROBERT MORRIS.

* * * * *

TO THE PRESIDENT OF CONGRESS.

Philadelphia, June 21st, 1781.

Sir,

I find that the new payment of the moneys due to the subscribers to
the Pennsylvania Bank materially injures and impedes the subscription
to the National Bank. At the same time, I am informed, that Congress
are unwilling to dispose of the bills lodged as a security, lest the
Minister of the United States at Madrid should be incommoded by it. I
have the honor to observe to your Excellency, that if these bills
shall be submitted to my disposal, I think I can pay the debts, above
mentioned, and cause the greater part of the money to be subscribed to
the National Bank, thereby rescuing, in some measure, the public
credit and forwarding the service, while, at the same time, I shall
put the bills in such a train of negotiation, that at least a very
considerable time must elapse before they can be presented, and
probably they may not be presented at all.

I have the honor to be, &c.

ROBERT MORRIS.[33]

FOOTNOTES:

[33] _July 4th._ I met the Directors of the Pennsylvania Bank, and a
number of the subscribers to that bank called, at my desire; and I
proposed t