Thanks for Floridablanca's permission to accept the bills mentioned in Floridablanca's note of the 20th. Jay has thought seriously about: 1. the means of paying these bills; and 2. the proposed contract with America for light vessels, etc. The first problem is solved by Floridablanca's promise to advance 25, 30, or 40 thousand pounds sterling at the end of the present year. These sums would probabl y be equal to the amount of the bills which would then become payable. Regarding the building of the ships, it is not in the power of the United States to provide the money. The United States will not be able to pay their debts until the war is over. Urges further subsidies.
Subjects
United States--History--Revolution, 1775-1783; Jay, John, 1745-1829