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abilities of the former as a financier consist wholly in laying new taxes without end; those of the other lie in finding resources for vast expenses, without laying any new burthens on the people. M. Necker is laying a foundation for a credit in France as solid as that of Great Britain, by stating to the public the expenses and revenues. This is the only solid foundation of public credit. America will never obtain a credit of any consequence in Europe until she has a credit at home. It is demonstrable that the people of America are able to lend to Congress every year more than money enough to carry on the war, and pay all expenses. What is the reason they do not. The reasons are plain; first, they have not known that their public money was expended by any fixed rule, so that they could judge how much it amounted to; secondly, they did not see any certain prospect of the punctual payment of interest or principal at a fixed value. All the art of financiering in America lies in ascertaining with precision by a fixed standard, how much our expenses are; next ascertaining what our income is; thirdly, how much must be borrowed ; fourthly, how to assure the payment of interest and principal.

If taxes could be laid by Congress upon exports and imports, and upon the consumption of articles of luxury, convenience, and necessity, as they are in Europe, America would be able to raise more every year in taxes than she has ever spent in one year. Nay, we might oblige foreigners to pay all the expenses of the war, and establish a credit much more solid than that of Great Britain, because we have not such a debt to begin with. But without recurring to this system, which might injure our commerce as well as our liberties, it is unquestionably owing entirely

to regulations of prices, embargoes, and stamping an arbitrary value upon what had no value, that has hitherto ruined our credit. But when all these systems shall be totally abolished in the several States, and measures shall be taken to lay annual taxes of a certain value, and these taxes mortgaged for the payment of interest, there is not a doubt but every State may obtain credit enough for the necessities of its own inhabitants.

I have the honor to be, &c.

JOHN ADAMS.

TO THE DUC DE LA VAUGUYON.

Leyden, April 16th, 1781.

Sir,

I have the honor to acquaint your Excellency, that I have received from Congress full powers and instructions to treat with the States-General, and to conclude a treaty of amity and commerce consistent with the relations already formed between the United States and France; and that I have also received a letter of credence, as a Minister Plenipotentiary to their High Mightinesses, and another to His Most Serene Highness the Prince of Orange.

With the greatest respect, &c.

JOHN ADAMS.

MEMORIAL TO THE STATES-GENERAL.

To their High Mightinesses, the States-General of the United Provinces of the Low Countries.

High and Mighty Lords,

The subscriber has the honor to propose to your High Mightinesses, that the United States of America in Con

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gress assembled, have lately thought fit to send him a commission (with full powers and instructions) to confer with your High Mightinesses, concerning a treaty of amity and commerce; an authentic copy of which he has the honor to annex to this memorial.

At the time, when the treaties between this Republic and the Crown of Great Britain were made, the people who now compose the United States of America, were a part of the English nation; as such, allies of the Republic and parties to those treaties; entitled to all their benefits, and submitting cheerfully to all their obligations.

It is true, that when the British administration, renouncing the ancient character of Englishmen, for generosity, justice, and humanity, conceived the design of subverting the political systems of the Colonies; depriving them of the rights and liberties of Englishmen, and reducing them to the worst of all forms of government; starving the people by blockading the ports, and cutting off their fisheries and commerce; sending fleets and armies to destroy every principle and sentiment of liberty, and to consume their habitations and their lives; making contracts for foreign troops and alliances with savage nations, to assist them in their enterprize; casting formally, by act of Parliament, three millions of people at once out of the protection of the Crown; then, and not till then, did the United States of America, in Congress assembled, pass that memorable act, by which they assumed an equal station among the nations.

This immortal Declaration, of the 4th of July, 1776, when America was invaded by a hundred vessels of war, and, according to estimates laid before Parliament, by fiftyfive thousand of veteran troops, was not the effect of any sudden passion, or enthusiasm ; but a measure which had

been long in deliberation among the people, maturely discussed in some hundreds of popular assemblies and by public writings in all the States; it was a measure which Congress did not adopt, until they had received the positive instructions of their constituents in all the States; it was then unanimously adopted by Congress, subscribed by all its members, transmitted to the Assemblies of the several States, and by them respectively accepted, ratified, and recorded among their archives; so that no decree, edict, statute, placard or fundamental law of any nation was ever made with more solemnity, or with more unanimity or cordiality adopted, as the act and consent of the whole people, than this; and it has been held sacred to this day by every State with such unshaken firmness, that not even the smallest has ever been induced to depart from it; although the English have wasted many millions, and vast fleets and armies, in the vain attempt to invalidate it. On the contrary, each of the thirteen States instituted a form of government for itself, under the authority of the people; has erected its legislature in the several branches; its executive authority with all its offices; its judiciary departments and judges; its army, militia, revenue, and some of them their navy; and all these departments of government have been regularly and constitutionally organised under the associated superintendency of Congress now these five years, and have acquired a consistency, solidity, and activity, equal to the oldest and most established governments.

It is true, that in some speeches and writings of the English, it is still contended, that the people of America are still in principle and affection with them; but these assertions are made against such evident truth and demon

stration, that it is surprising they should find at this day one believer in the world. One may appeal to the writings and recorded speeches of the English for the last seventeen years, to show that similar misrepresentations have been incessantly repeated through that whole period, and that the conclusion of every year has in fact confuted the confident assertions and predictions of the beginning of it. The subscriber begs leave to say from his own knowledge of the people of America, (and he has a better right to obtain credit, because he has better opportunities to know, than any Briton whatsoever,) that they are unalterably determined to maintain their independence. He confesses, that, notwithstanding his confidence through his whole life, in the virtuous sentiments and uniformity of character among his countrymen, their unanimity has surprised him; that all the power, arts, intrigues and bribes, which have been employed in the several States, should have seduced from the standard of virtue so contemptible a few, is more fortunate than could have been expected.

This independence stands upon so broad and firm a bottom of the people's interests, honor, consciences, and affections, that it will not be affected by any successes that the English may obtain, either in America or against the European powers at war, or by any alliances they can possibly form, if indeed in so unjust and desperate a cause they can obtain any. Nevertheless, although compelled by necessity, and warranted by the fundamental laws of the Colonies and of the British constitution; by principles avowed in the English laws, and confirmed by many examples in the English history; by principles interwoven into the history and public right of Europe, in the great examples of the Helvetic and Batavian confederacies and many

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