Philadelphia, December 23d, 1779.
Sir:
I take this opportunity of shewing you that I am not unmindful of my promise, but that rather than be worse than my word I write, tho' I have nothing worth communicating. When I came here I found our money depreciated beyond bounds and Congress taken up in finding out ways and means to remedy the evil. Before my arrival they had adopted the plan of recommending a limitation of prices to the different States, a plan from which I do not promise myself much relief, as I am apprehensive it will not be generally adopted. In the mean time they are busy in forming other Schemes of Finance, the foundation of which are loans, both foreign and domestic. From these schemes likewise I fear nothing advantageous will arise. We have found it dangerous from experience to tamper with our money, every step hitherto taken to appreciate it having had the contrary effect. If we could check the expense in the departments of the Commissary and Quarter Master, I believe it would be a radical cure, and until we do this, I shall think all other schemes useless. In order to do this Congress seem determined to call on all the States for a certain part of their Annual Quota of Continental Taxes, in kind, to be deposited in proper Magazines by such officers and at such places as the different States may think proper to direct. Upon the success of this plan, our salvation seems to me to depend, as by these means we should be able to do without a set of men who have taken care to amass most princely fortunes, at the same time that they have loaded us with debt and difficulties. I could descend to particulars on this subject, but it would carry me beyond the bounds of a letter. Thus, Sir, I have endeavoured to give you an idea of the present views of Congress, from which you will see that our situation is critical, as much depends on the measures we adopt.
This letter is not designed for the public Eye, but merely to shew you how sensible I am of your friendship, and in turn to
request the favor of a line whenever leisure and opportunity permit.Dr. Sir, Yours,