al to three millions and fortyseven thousand six hundred and
nineteen dollars. But at the highest rate of exchange, which has
hitherto taken place, this sum if drawn for, would have amounted to no
more than two millions five hundred and sixty thousand dollars. I have
been thus particular with respect to the amount of this sum, because
the difference of currencies very often tends to deceive those to whom
their real value is not a familiar subject of attention.

The enclosed account is in livres, and the two first articles contain
the total of the grant and loan, amounting to sixteen millions of
livres. The remainder contains the deductions to be made; the two
first articles whereof, amounting to two millions three hundred
thousand livres is for the payment of the bills drawn on France,
Spain, and Holland, which I have already mentioned, the produce of the
sales whereof had been applied to the public service long before my
appointment. The next article, being two millions of livres, is
appropriated to the payment of the interest bills; wherefore, no part
of it can be applied to other purposes. The fourth article, I need say
nothing of here, as it has long been in the mouths of everybody. The
fifth and sixth articles are for those stores, which were laden on
board of four transports by order of Colonel Laurens, three of which
have safely arrived, and the other put back in distress. The seventh
article, is in consequence of the loss of that valuable ship, the
Marquis de Lafayette, which contained a great number of public stores,
the replacing of which is necessary for the army and its operations,
and which will amount to that sum.

The last article contains the amount of moneys deposited to answer my
drafts, which have been made from time to time, and the produce
appropriated to the service of the current year. On the whole, there
remains a balance of three millions and sixteen thousand four hundred
and ninetynine livres. This, with the sum brought by Colonel Laurens,
may be considered as of the value of about one million of dollars,
which is the utmost; for it would exceed that only by twentyone
thousand five hundred and seventyfour dollars, if it were now in this
country.

Thus then you see the extent of that pecuniary succor, which has
filled the minds of all with such teeming expectation, is narrowed
down to one million of dollars. But by the best accounts and estimates
I have been able to procure, this war has hith