I have received the Letter you honour'd me with of the 8th June past, acquainting me, that as Superintendant of Finances you have named Messrs Couteulx & Co at Paris, to receive from his Majesty's Ministers the Money granted to Congress, that they may be enabled to honour your Bills whenever they appear; and you intimate a Desire to be inform'd of the Responsability of that House.

With Regard to the Six Millions given by the King in Aid of our Operations for the present Campaign, before the Arrival of Mr Laurens; 2,500,000 l.t. of it went in the same Ship with him in Cash; Stores equivalent to 2,200,000 l.t. more of it, were ordered by him & are shipt;— 1,500,000 l.t. was sent to Holland to go in the Ship commanded by Com. Gillon. Add to this, that Capt. Jackson by his Orders purchased Clothing & Stores in Holland to the Value of about 50,000£ Sterling for which he has drawn Bills on me, which Bills I accepted and also agreed to pay those drawn on Messrs Laurens, Jay & Adams; expecting Aid from a projected Loan of 10,000,000 l.t. for our Use in Holland. But this Loan meeting with unforeseen Difficulties & its Success uncertain, I have found my self obliged to stop the Money in Holland, in order to be able to save the honour of the Congress Drafts & to comply with my Engagements. By these Means you have really at present no Funds here to draw upon. I hope however that Messrs Couteulx & Co will be enabled to honour your Drafts: but I trust in your Prudence that you will draw no more till you have Advice of Funds provided. And as the laying out so much Money in Holland instead of France is disapproved here, and the Payment will therefore not be provided for, I must earnestly request your Aid in remitting that Sum to me before December next when my Acceptations will become due, otherwise I shall be ruined with the American Credit in Europe.

With regard to the Wealth & Credit of the House of le Coul-teux & Co I have never heard it called in question. But as Mr Fer-dinand Grand, Banker at Paris, & his Brother Sir George Grand, Banker in Holland, have been our zealous & firm Friends ever since our Arrival in France, have aided us greatly by their personal Interest and Sollicitations, & have often been 6 or 700,000 Livres in Advance for us, and are Houses of unquestionable So-lidity, I cannot but be concern'd at any Step for taking our Business out of their Hands, and wish your future Bills may be drawn on Mr Ferdinand Grand; for I think it concerns our public Reputation, to preserve the Character of Gratitude as well that of Honesty & Justice.— The Commission hitherto charg'd to us by Mr Grand for receiving & paying our Money is an half per cent, which considering the Trouble given by the vast Number of small Drafts for Interest of the Loans, appears to me a moderate Consideration.

With great & sincere Esteem, I have the honour to be Dear Sir.