Gentlemen—
I have received no letter since those by Dr Franklin, dated in October last; but, hourly hoping that some intelligence would arrive, have put off sending express for sometime, until despairing almost of letters, we have agreed to despatch Capt Hynson in a cutter as a packet.
It is now twelve months since I left Philadelphia, in all which time I have received but three letters. I refer you to our joint letter for an account of the perplexing and embarrassing situation this want of seasonable intelligence has thrown us into, as well as other political matters, and confine myself to commercial.
On my arrival at Bourdeaux in June last, I found there were no other vessels there except a brigantine from Portsmouth, and two small sloops, one from New York and the other from Rhode Island. The Merchants at Bourdeaux had begun to turn their attention to news from America and to think of its commerce; but none had adventured their own property in it. The prevailing opinion at that time throughout Europe was that the Colonies would inevitably be brought to submission to any terms Great Britain should prescribe. The news arriving of the evacuation of Canada, which by English emissaries and partisans was exaggerated and stiled a decisive victory; the prodigious armaments by sea and land destined for America, with the hostile resolutions of Parliament, and the credit of the British administration in point of raising supplies, confirmed this opinion. A Scotch Junta at Bourdeaux, at that time spirited up by Jenkinson and Stanley, who visited all the principal trading towns in France at that season for the same purpose, represented American affairs in such a light that during the whole three weeks I spent there I found not a single person desirous of adventuring in that trade, though generally well wishers to the cause. Mr Delap, indeed, constantly offered me every service in his power, and to advance me either money or credit; but then I had to consider the smallness of the sum I brought over with me, a capital part of which I was finally disappointed of by the protesting of the Bills; that though it was then near five months since preparations had been made for remitting, yet that nothing had arrived; that when I left Philadelphia I had every reason to conclude that the full sum of forty thousand pounds sterling would be lodged in Europe by nearly the time of my arrival. These considerations distressed me considerably. To delay purchasing the Indian goods I was unwilling, and to urge Mr Delap, from his general assurances of friendship, to pledge himself for so large a sum as must ruin his credit if he did not punctually pay it, and if he did, must stop his business; at a time, too, when the prospects were against us, I could not have the confidence of attempting. If I had, I should doubtless have been refused. If I had not, he must have been ruined in his business. Under this situation, I hesitated some days, and fj.nally determined to suspend any attempt to purchase for a short time, in which I might probably have remittances and become acquainted with the best places for purchasing. 'I accordingly left Bourdeaux for Paris the last of June. My arrival here and the affairs I became engaged in on the public account has been particularly related to you in my long letters by Mr McCrery [McCreery], which brought my affairs down to the beginning of September, when intelligence from America, passing through England, represented our affairs as desperate. In the mean time, I had nothing to oppose to this torrent, which for several months bore every thing down, but my simple assertions, unsupported by any letters or intelligence direct. During this time I had many apparently generous offers made to me of credit for a larger sum than the contract; but when I came to explain, I found that M. Delap was known to be my Banker at Bourdeaux and Messrs Germany, Girardot & Co in Paris, and that I was expected to get them to endorse my Bills, or, in other words, to become my security for the money. This reduced me to my first difficulties, which were no way lessened by months successively elapsing without either intelligence or remittances. This induced me finally to despatch Capt Morgan, and that he might not go empty, I purchased a quantity of Saltpetre, which, however, contrary winds prevented his receiving in time, and he returned in ballast.3 Mr Delap afterwards shipped it, together with a quantity of powder, &c &c in Capt Sarly and Captain Hutchinson, of which he informed you. The last bills he received, to the amount of £5,000 Sterling, were all protested, except one of £250. This, with many other discouraging circumstances, has made that gentleman decline advancing in the American commerce. Meantime, finding no person in France ready to advance, as I may say, unconditionally except Monsr Beaumarchais, and that he was confined to the supplies for the Army, I gave him in my list for those supplies as large a proportion of woollen cloths and blankets as might enable you to supply the Indians with some of the more pressing necessaries. Mr Delap has not yet sent me his account, but I presume he may in the whole have received seven or eight thousand pounds sterling. The fitting out the vessels from Bourdeaux on account of Congress, the payment of saltpetre, and other articles shipped by him on the account of Congress with the money advanced to me, may leave a balance in his hands of 2,000£ Sterlg But this account, when received, shall be forwarded to you, by which you will be able to see at once what has, and what has not, been in my power.
I continued to give encouragement that vessels would certainly arrive soon, until I feared for my own reputation. In the month of October, meeting with 2,000 barrels of powder, I purchased it on credit & shipped it to Martinico. This I was induced to do from the price (13 sols) and the certain knowledge I had that it would rise. It has since risen to 22 sols. It was shipped in November for Mr Bingham at Martinico, & insured at 2 per Cent. The time of payment arrived & I was unable to pay, without having recourse to a fund advanced by our friends here, which, though I wished to have reserved for other purposes, Dr Franklin advised me to discharge this demand with. In Mr [Robert] Morris's letters, by Dr Franklin, he informed me that commercial matters were put into the hands of Mr Ts Morris. [Letter incomplete]