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| Field name | Value |
|---|---|
| Collection Reference Number | GLC02437.04960 |
| From Archive Folder | The Henry Knox Papers [0100] May-June 1791 |
| Title | James Swan to Henry Knox about United States debt to France and how this debt can be paid |
| Date | 27 May 1791 |
| Author | Swan, James (1754-1831) |
| Recipient | Knox, Henry |
| Document Type | Correspondence; Business and financial document |
| Content Description | Swan says he wrote Knox letters on 27 December 1790 and 23 and 27 January 1791. Mentions new ministers from France arriving in America. Their primary goal is to address the U.S. debt to France. Discusses how they could find 40 million dollars to pay the debt. Claims "The circumstances of the finances of france, render this matter nearer at heart, than when first proposed. The deficiency in the Revenue with the expence, was not then known: it is now severely felt." Says if there ever was a moment the U.S. could help France, this is it. Claims borrowing from Amsterdam is not cheap at the moment. Mentions speaking about details of other schemes to borrow money with William Short. Continues letter on 10 June. Gives latest on borrowing possibilities and suggests getting money from Holland would be best. Postscript mentions that Gouverneur Morris received letters from America that objected to his posting as a diplomat in France because he has an interest in the U.S. debt to France. States that Morris denies being involved in such speculation. Signature clipped. |
| Subjects | Revolutionary War General Diplomacy Global History and Civics France French Revolution Government and Civics Economics Finance Debt |
| People | Knox, Henry (1750-1806) Swan, James (1754-1831) Morris, Gouverneur (1752-1816) Short, William (1759-1849) |
| Place written | Paris, France |
| Theme | Banking & Economics; Foreign Affairs |
| Sub-collection | The Henry Knox Papers |
| Additional Information | Swan, James, 1754-1830; financier; agent of French Republic; settled in Boston; later bought large tracts of land in Western Va., Kentucky & Pa.; died in debtors prison in Paris. |
| Copyright | The Gilder Lehrman Institute of American History |
| Module | Settlement, Commerce, Revolution and Reform: 1493-1859 |