Before I quit this subject of the past requisition of Congress, I must add that, notwithstanding my pressing instances, very little hard money has been obtained from the States; not more than one hundred thousand dollars during my whole administration. There has, indeed, been drawn forth some considerable specific supplies of provision, and there is on hand a great deal of paper money. From the former our army has been principally maintained, and indeed there is a small advance made to the Count de Rochambeau, which I mean to be in part of your promise mentioned in a former letter, and I here repeat to you my determination to comply with it as speedily as any convenience will possibly admit.
As to the paper money, it is of no use, although it is necessary, for evident reasons, to receive it in taxes. But the confidence of the people is so entirely lost, that for the present no bills of credit whatever can be made use of as money. I hope that the taxes laid and collecting in most of the States, will bring in all this useless load by the middle of next summer; and I have some expectation, that the States of Massachusetts, Connecticut, Pennsylvania, and Delaware, will be entirely rid of it by the spring. If I could buy anything with it, I would not, until the last necessity; but it will buy nothing, so that it must be burnt as soon as it honestly can.
The picture I have already given of this country will not be pleasing to you. Truth bids me add, that it will admit of a higher coloring. But what else could be expected from us? A revolution, a war; the dissolution of government, the creating of it anew; cruelty, rapine, and devastation in the midst of our very bowels. These, Sir, are circumstances by no means favorable to finance. The wonder, then is, that we have done so much, that we have borne so much, and the candid world will add, that we have dared so much. I could take up much of your time in recapitulating many less matters, which have tended to weaken the exertions we have otherwise been capable of. The confused state of public accounts, and the deplorable situation of credit for want of funds to secure, or means to redeem, the debt, for which the public faith is pledged, are, however, of such important operation, that I must not pass them over in silence.