FREE BOOKS

Author's List




PREV.   NEXT  
|<   194   195   196   197   198   199   200   201   202   203   204   205   206   207   208   209   210   211   212   213   214   215   216   217   218  
219   220   221   222   223   224   225   226   227   228   229   230   231   232   233   234   235   236   237   238   239   240   241   242   243   >>   >|  
rd in drawing money for their own expenses. In February, 1778, each insisted that he should be allowed a credit with the banker, M. Grand, to an amount of L2000, as each then expected to depart on a mission. Franklin reluctantly assented, and was then astonished and indignant to find that each at once drew out the full sum from the national account; yet neither went upon his journey. In January, 1779, Izard applied for more. Franklin's anger was stirred; Izard was a man of handsome private property, and was rendering no service in Paris; and his requirements seemed to Franklin eminently unpatriotic and exorbitant. He therefore refused the request, writing to Izard a letter which is worth quoting, both from the tone of its patriotic appeal and as a vivid sketch of the situation:-- "Your intimation that you expect more money from us obliges us to expose to you our circumstances. Upon the supposition that Congress had borrowed in America but $5,000,000, and relying on the remittances intended to be sent to us for answering other demands, we gave expectations that we should be able to pay here the interest of that sum as a means of supporting the credit of the currency. The Congress have borrowed near twice that sum, and are now actually drawing on us for the interest, the bills appearing here daily for acceptance. Their distress for money in America has been so great from the enormous expense of the war that they have also been induced to draw on us for very large sums to stop other pressing demands; and they have not been able to purchase remittances for us to the extent they proposed; and of what they have sent, much has been taken, or treacherously carried into England, only two small cargoes of tobacco having arrived, and they are long since mortgaged to the Farmers General, so that they produce us nothing, but leave us expenses to pay. "The continental vessels of war which come to France have likewise required great sums of us to furnish and refit them and supply the men with necessaries. The prisoners, too, who escape from England claim a very expensive assistance from us, and are much dissatisfied with the scanty allowance we are able to afford them. The interest bills above mentioned, of the drawing of which we have received notice, amount to $2,500,000, and we have not a fifth part of the
PREV.   NEXT  
|<   194   195   196   197   198   199   200   201   202   203   204   205   206   207   208   209   210   211   212   213   214   215   216   217   218  
219   220   221   222   223   224   225   226   227   228   229   230   231   232   233   234   235   236   237   238   239   240   241   242   243   >>   >|  



Top keywords:

Franklin

 

drawing

 

interest

 

Congress

 

England

 

remittances

 

amount

 

credit

 

demands

 

expenses


borrowed

 

America

 

proposed

 
pressing
 

purchase

 

extent

 
expense
 
distress
 

acceptance

 

appearing


enormous

 

induced

 
mortgaged
 

escape

 

expensive

 

prisoners

 

necessaries

 

furnish

 

supply

 

assistance


dissatisfied

 

notice

 

received

 

mentioned

 

scanty

 

allowance

 

afford

 

required

 

likewise

 

cargoes


tobacco

 

arrived

 

treacherously

 
carried
 

continental

 

vessels

 

France

 

currency

 
Farmers
 
General