We observe by the favour of your Excellencies most honoured Letter of 22 Inst that Mr. Grand has laid before your Excellencies a State of the Affairs of the United States under his Care; and that the Dispositions made upon him are such, that therefore your Excellencies advise us to remit to Mr. Grand on Account of said States a Sum of half a million Livres tournois, if, the Cash in our hands, compared with the Drafts made upon us will allow it.

We take the Liberty in answer to this, to assure your Excellencies that we would be very sorry to observe, that the Drafts for Congress might suffer a Disappointment any where, and that we would gladly, contribute to prevent such a Misfortune, but we are obliged in the present Case to represent to your Excellencies that it is impossible for us to make the Comparison which your Excellencies mention, because we know that these are at least running 22 Bills from Mr. Morris upon us, of which we don’t know the amount, since we got not his advice, and since the Letters are not offered for Acceptance. This we know by the Numbers of the Bills which we already accepted being from No. 1. till 27 together 150000 and No. 50 of 100,000. We want also to know the amount of the No. 28 till 49 which may be presented every momeny, and as soon as we will be informed about it, we promise to make that Compensation, and to write again to your Excellencies of the State of the Cash in our Hands will permit us to comply with your advice. For we beg your Excellencies to observe, by the amount of the Bill No. 50. That there is sometimes opportunities for Large Bills and consequently it is quite impossible to make any Supposition upon the whole Amount of 22 Bills, and we should be sorry in Case by paying out a Sum of £500/M. for which we have no Proper authority, We should be in Want for the Payment of those Drafts, as may be made upon us in Consequence of the Informations, which Congress might have received about the Success of the Loan. We beg to consider this and to let us know in answer to this your advise, how in such a Case we should do without despleasing our Principles.

We hope that after having considered what we have mentioned, your Excellencys will Justify us, if we should wish to be excused from complying with their advice.

However since it comes from so respectable a Society, We think we could do it either for the whole Sum of £500,000. or part of upon the following two Conditions.

1st. That your Excellencys in your respective Qualities should properly authorise us to furnish that Sum to Mr. Grand, out of the Stock of Money of the United States in our hands, and be guarant for the Approbation of Congress. It is our humble Opinion that your Excellencys can better do this, Than we, who are no so good informed about the Particulars of the affairs of the United States, and of their Concerns as your Excellencies.

2d. That Mr. Grand should give his Engagement, to us that in Case the Dispositions of Congress upon us should exceed the Amount of the Cash in our Hands, and we also should want a restitution of the Money remitted to him he in that Case will pay our Drafts upon him for that Purpose on account of the United States.

If your Excellencies thinks it convenient to do the matter upon this footing we beg to let us know in answer to this your Resolution, and against which time Mr. Grand should wish to receive the Remittances. With much Respect we have the honour to be Gentlemen Your Excellencies most humble and obedient Servants