As the last mentioned sum appears by the Count de Vergennes' note, to have been part of that, which was given by the Court, this state of the matter will leave clear the ten million livres to have been loaned, and seems properly to consist with the Count's note of the 16th of May, and his letter to you of the 8th of June following. I have mentioned above, that in making the deduction for bills paid previous to the year 1781, I meant to be within bounds. It is proper to give a reason why I supposed that deduction to be so. I have already made one remark on the article A one two and F, in the account officially communicated by the Minister of France in September last. From those articles it appears at least that three million livres were advanced for the payment of bills last year. The amount of the interest bills, I have already stated as being in the extent, two millions one hundred and ninetythree thousand nine hundred and ninety livres, to this sum must be added one hundred and fortyfour thousand livres, due to M. Beaumarchais, and the one hundred and twentyfive thousand livres deducted in the estimate, as having been drawn for by the Resolutions of the 19th of May, 1780. These sums together amount to two millions four hundred and sixtytwo thousand nine hundred and ninety livres; to which I will add for contingencies one hundred and thirty seven thousand and ten livres more, making the whole amount two millions six hundred thousand livres; wherefore suppose the grant of moneys to pay bills for the year 1780, to have been but three million livres, and it appears evidently to have been at least that, there would have remained in your hands a balance of four million livres; which is more than I have deducted from the amount of my estimate.
On the whole, then, I conceive myself well grounded in the opinion, that the whole loan is still at our disposal, and this opinion is so well supported by the Count de Vergennes' letter to you, that I might with great propriety insist on that point. The letter, therefore, which I shall write with such act of Congress, as may be made, in consequence of yours of the 11th of June, will proceed entirely upon that supposition.
I must, however, remark to you in this place, that I by no means intend to insist rigidly with the Court, on points which may incommode them. We are neither in a situation to do it, nor would it be proper even if we were. But while I say this, I do not mean to preclude myself from such observations as my duty shall render necessary, on any transaction which has happened, or which may happen hereafter.