Name
Thomson, Charles, 1729-1824 (Author)
Jay, John, 1745-1829 (Addressee)
Title
Document, 1780 October 12
Abstract
Congress has called on the states to raise $15 million a month to carry on the war. As a result prices rose with taxes and the paper depreciated even more. Thus, the money coming was not adequate to meet demands. Then Congress called on the states for provisions and forage. Prices in March were four times what they were in Sept. Describes the valor of the Army. Congress is calling in $200 million to burn it. $10 million new money to be issued. The ratio of gold to silver in payment of taxes set at 40-1. Congress fixed the value of certificates for money loaned from Sept. 1777 to Mar. 1780. $6 of the $10 million to be issued to be given to the states for purchases and $4 million to be used by Congress to pay the Army and other expenses. But in the meantime Congress forced to draw bills on European ministers because of the dire circumstances. Defends the U.S. financial situation as the result of six years of war, and by a young and poorly organized government. Thinks Arnold the only traitor in the war so far. He was brave but avaricious and tied to people not warm in the American cause.
Subjects
United States--History--Revolution, 1775-1783; Jay, John, 1745-1829
Format
correspondence
Genre
letters (correspondence)
Date
1780 October 12
Physical Description
0 pages
Note
The entire content of the original has been digitized.
Library Location
Browse Location’s Digital Content
Also In
The papers of John Jay
Copyright Status
No Known Copyright
Persistent URL
https://dx.doi.org/10.7916/98p1-9p07