Memorandum

Mr de Chaumont having at Nantes a considerable quantity of Cloth etc. proper for Soldiers Cloathing contained in 327 [?] Bales which he had sent thither on his own Account, and the Public at the same Time having occasion for a like Quantity of the same kind of Goods I was directed by Doctor Franklin to make the best Bargain I could with Mr de Chaumont for the same, which I did in the following manner.

The Original Invoices being then in my Possession and all the Charges being known to me partly by my Correspondance and partly by what I had paid myself, I made an estimation of the amount of these Charges on the whole and then proportioned them on the Price of each article pro Rata rendring to Mr de Chaumont and the Public the same Prices and sums. The Payment for these Goods were to be made in Doctor Franklins Bills on Congress these Bills to be paid by Congress Bills on France, thus by a circulation of Bills at least a Year was to have been spent before the Payment came round, and the Cost of the Goods was as cheap as could then be bought had the Order been immediately executed at the manufactures, these Reasons made it appear both to Doctor Franklin and me a very advantageous Purchase and the Public Interest was his and my Motive in the Transaction.

I give this Declaration to the Hon. Mr Barclay Auditor General of accounts to serve as an explanation of that part of my accounts