You know how strongly we desire to pay off our whole debt to France, and that for this purpose, we will use our credit as far as it will hold good.  You know, also, what may be the probability of our being able to borrow the whole sum.  Under these dispositions and prospects, it would grieve us extremely to see our debt pass into the hands of speculators, and be subjected ourselves to the chicaneries and vexations of private avarice.  We desire you, therefore, to dissuade the government, as far as you can prudently, from listening from any overtures of that kind, and as to the speculators themselves, whether native or foreign, to inform them, without reserve, that our government condemns their projects, and reserves to itself the right of paying nowhere but into the treasury of France, according to their contract.

I enclose you a copy of Mr. Grand’s note to me, stating the conditions on which Drost would come, and also a letter from the Secretary of the Treasury, expressing his ideas as to those terms, with which I agree.  We leave to your agency the engaging and sending Mr. Drost as soon as possible, and to your discretion to fix the terms, rendering the allowance for expenses certain, which his first proposition leaves uncertain.  Subsistence here costs about one third of what it does in Paris, to a housekeeper.  In a lodging house, the highest price for a room and board is a dollar a day, for the master, and half that for the servant.  These facts may enable you to settle the article of expenses reasonably.  If Mr. Drost undertakes assaying, I should much rather confide it to him, than to any other person who can be sent.  It is the most confidential operation in the whole business of coining.  We should expect him to instruct a native in it.  I think, too, he should be obliged to continue longer than a year, if it should be necessary for qualifying others to continue his operations.  It is not important that he be here till November or December, but extremely desirable then.  He may come as much sooner as he pleases.

We address to M. la Motte a small box for you, containing a complete set of the journals of the ancient Congress, the acts of the last session of the federal legislature, and a continuation of the newspapers.

I am, with great and sincere esteem, Dear Sir, your affectionate friend and humble servant,

Th:  Jefferson.

LETTER LXI.—­TO MR. OTTO, May 7, 1791

TO MR. OTTO.

Philadelphia, May 7, 1791.

Sir,