By the enclosed Acts of the twenty eighth of April and second of May, with the Copy of my Letter to Congress of the third of May, you will perceive that I am to continue somewhat longer in the Superintendance of our Finances. Be assured, Sir, that nothing but a clear View of our Distresses could have induced my Consent. I must at the same time acknowledge that the Distresses we experience arise from our own Misconduct. If the Resources of this Country were drawn forth they would be amply sufficient, but this is not the Case. Congress have not Authority equal to the Object, and their Influence is greatly lessened by their evident Incapacity to do Justice. This is but a Melancholy Introduction to the Request contained in the Act of the second instant. But I shall not be guilty of Falsehood nor will intentionally deceive you or put you in the Necessity of deceiving others. My official Situation compels me to do things which I would certainly avoid under any other Circumstances. Nothing should induce me in my private Character to make such applications for Money, as I am obliged to in my Public Character. I know and feel that you must be in a disagreable Situation on this Subject. I can anticipate the Answers to all your Requests. And I know you may be asked for Payment when you ask for Loans. Yet, Sir, I must desire you to repeat your Applications. My only Hope arises from the Belief that as the King’s Expences are much lessened he may be able to comply with his gracious Intentions towards America. And the only Inducement I can offer is the assurance that the Taxes already called for shall be appropriated as fast as other indispensable Services will admit to the Replacement of what the Court may advance.

Our Situation is shortly this. The Army expects a Payment which will amount to about seven hundred thousand Dollars. I am already above half a Million Dollars in advance of our Resources by Paper Anticipation. I must increase this Anticipation immediately to pay Monies due on the Contracts for feeding our Army, and I must make them the explicit Payment by Notes to be discharged at a distant Day. Now, Sir if these Notes are not satisfied when they become due, the little Credit which remains to this Country must fall and the little Authority dependent on it must fall too. Under such Circumstances it is that you are to ask Aid for the United States. If it can be obtained I shall consider the obligation as being in some Degree personal to myself and I shall certainly exert my self for the Repayment. You will be so kind, Sir, as to ship on Board the Washington eighteen hundred thousand Livres, but if the Loan be not obtained, I must intreat you will give me the earliest possible Information of the Refusal.

I shall communicate this Letter to the Minister of his most Christian Majesty, and request him to write to Mr. de Vergennes on the Subject of it. Believe me I pray with sincere and Respectful Esteem and Regard Your Excellency’s most obedient humble Servant