Letterbook copy of this letter. As of last September, Congress decided to emit no more bills. They called on the states to aid in paying the $200 million in circulation. Relying on the goodwill and interest of Spain, Congress decided to draw bills on Jay for 100,000 pounds sterling payable in six months. The measure had to be taken before January and that is the reason for drawing before any money had been made available. John Jay regrets not being able to advise Spanish of this sooner.
Subjects
United States--History--Revolution, 1775-1783; Jay, John, 1745-1829