Committee for Foreign Affairs (James Lovell, Robert R. Livingston, and William Churchill Houston) to John Jay, 16 June 1780
Philad a . 16 June 1780
Sir
The Embarrassm t 1 which the Depreciation of the currency had created in our 2 publick affairs at the Time of your Departure for Europe, were, as you well remember, very distressing and have till lately continued to increase . Congress greatly anxious to avail themselves of every possible Means of checking this Evil, in Nov r last 3 ventured on Expedient of drawing Bills on You for hundred thousand [pounds] 4 as you have been already advised by Letter of 11 December last. 5 This they thought they might risque considering the Importance of the Object. But as the Time of your arrival in Europe could not be counted on with Certainty, and Negociation might not be immediately practicable and disappointment would be injurious to the Public faith they determined to draw at Six months sight which we hope will allow sufficient Leisure for every necessary Preparation. It will not be amiss to observe that Congress have not taken this Measure without some Circumstances of Encouragement that funds to satisfy draughts would not be unattainable . 6 Since the agreeable News of your Arrival and to answer the purpose of Great National Utility Congress have directed Bills to be drawn for the additional Sum of 25000 Dollars at 60 days sight 7
The Exertions necessary at this Crisis require the Command of a considerable Sum of Money, but these drafts we hope will not be increased –till we have Intelligence from you respecting your Protestation 8 and assurance . 9 We have the Pleasure to inform you that from the Measures which have lately been adopted, and with which you are made acquainted by the Journals, the Finances begin to assume a better appearance, and our publick Affairs in general will, we hope, be delivered from many of the Embarrassments under which they have laboured. But We earnestly entreat you to push every possible Exertion for procuring Aid of Money from the court of Spain without which we are fearful measures of Congress fully to restore the currency and prosecute the war with desired effect will fall Short the desired Success. We are, Sir with great respect your obed t . Servants
James Lovell Rob t R. Livingston Wm Churchill Houston