s to the
lender than a common loan, payable ultimately in cash. But if we should
say, we will deliver you the one hundred acres of land immediately,
which is in fact an immediate payment of the principal, and will
nevertheless pay your interest of five per cent., for ten years, this
offers a superior advantage, and might tempt money-holders. But what
should we in fact receive, in this way, for our lands? Thirty-seven
dollars and one fourth, being left in Europe, on an interest of five per
cent., would pay annually the interest of the one hundred dollars for
ten years. There would remain then only sixty-two dollars and three
quarters, for the one hundred acres of land; that is to say, about
two thirds of its price. Congress can best determine, whether any
circumstances in our situation, should induce us to get rid of any of
our debts in that way. I beg you to understand, that I have named rates
of interest, term of payment and price of land, merely to state the
case, and without the least knowledge that a loan could be obtained on
these terms. It remains to inform you, from whom this suggestion comes.
The person from whom I receive it, is a Monsieur Claviere, connected
with the monied men of Amsterdam. He is, on behalf of a company there,
actually treating with the Comptroller General here, for the purchase of
our debt to this country, at a considerable discount. Whether he has an
idea of offering a loan to us, on terms such as I have above spoken of,
I know not; nor do I know that he is authorized to make the suggestion
he has made. If the thing should be deemed worthy the attention of
Congress, they can only consider it as a possibility, and take measures
to avail themselves of it, if the possibility turns out in their favor,
and not to be disappointed if it does not. Claviere's proposition not
being formal enough for me to make an official communication of it, you
will make what use of it you see best.

I am, with very sincere esteem and attachment, Dear Sir, your most
obedient

and most humble servant,

Th: Jefferson.

LETTER XXXIX.--TO JOHN JAY, January 9, 1787

TO JOHN JAY.

Paris, January 9, 1787.

Sir,

My last, of December the 31st, acknowledged the receipt of yours of
October the 12th, as the present does those of October the 3rd, 9th, and
27th, together with the resolution of Congress of October the 16th,
on the claim of Schweighaeuser. I will proceed in this business on
the return of Mr. B