most spirited exertions of these
States to drive the enemy from our country. And that my affection for,
and gratitude to France, are unalterably fixed, as is also my respect
and esteem for your Excellency's person and character. Being, Sir,
your most obedient, &c.

ROBERT MORRIS.

_P. S._ Upon a more exact calculation of the sale of bills, a few of
which were sold a little higher than the rest, I find that nine
hundred one thousand and eighteen livres, four sous, eight deniers,
produced fiftytwo thousand two hundred and eleven pounds, ten
shillings and ninepence, Pennsylvania currency; which is equal to one
hundred twentyfive thousand three hundred and seven French crowns, and
seven tenths of a crown, at eight shillings four-pence, Pennsylvania
currency, for a crown; and the same number of livres reduced into
crowns at six livres each crown, is one hundred fifty thousand one
hundred sixty-nine and four sixths crowns. Consequently the discount
is little more than sixteen and a half per cent.

* * * * *

TO THE SPEAKER OF THE ASSEMBLY OF PENNSYLVANIA.

Office of Finance, September 28th, 1781.

Sir,

As the Honorable House of Assembly are now sitting, and have before
them the several letters which I had the honor to write during their
recess to his Excellency the President in Council, I shall now
endeavor to state, in a short manner, the situation of accounts
depending between Pennsylvania and the United States, and propose such
measures, as, I think, will lead to a speedy and satisfactory
settlement of them.

In the treasury books of the United States, there is an account
current open for transactions commencing with the revolution, and
continuing to the 18th of March, 1780, wherein the State of
Pennsylvania stands charged with advances, made at different periods
during that time, to the amount of four millions four hundred and
fortyfour thousand and seven hundred dollars, and has credit to the
amount of one hundred and thirtysix thousand and ninetyeight dollars.
Most of these advances were made whilst money was valuable; but I
expect that the expenditures of the State on behalf of the United
States kept pace with the advances made, and that, probably, when this
account comes to be settled, there may be no great balance either way;
but in this respect, I do not pretend to speak with