sums might be requisite, for ordinary and necessary
expenses. Interest on the public debt, and the
maintenance of the diplomatic establishment in Europe,
had been habitually provided in this way. He
was now elected Vice-President of the United States,
was soon to return to America, and had referred our
bankers to me for future counsel, on our affairs in
their hands. But I had no powers, no instructions,
no means, and no familiarity with the subject.
It had always been exclusively under his management,
except as to occasional and partial deposites in the
hands of Mr. Grand, banker in Paris, for special and
local purposes. These last had been exhausted
for some time, and I had fervently pressed the Treasury
board to replenish this particular deposite, as Mr.
Grand now refused to make further advances. They
answered candidly, that no funds could be obtained
until the new government should get into action, and
have time to make its arrangements. Mr. Adams
had received his appointment to the court of London,
while engaged at Paris, with Dr. Franklin and myself,
in the negotiations under our joint commissions.
He had repaired thence to London, without returning
to the Hague, to take leave of that government.
He thought it necessary, however, to do so now, before
he should leave Europe, and accordingly went there.
I learned his departure from London, by a letter from
Mrs. Adams, received on the very day on 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