e 5th of July last, that he also
has opened a loan in Holland on account of the United States for five
millions of florins, but adds, that he does not expect to obtain that
sum for a long time, that if he gets a million and a half by
Christmas, it will be more than he expects.

In a letter of the 18th of August, the last I have received from Mr
Adams, he says, that "when he receives the ratification of his treaty
for a loan, there will be thirteen or fourteen hundred thousand
guilders to be paid to the orders of Congress." This is confirmed by a
letter to the Marquis de Lafayette, of which he sends me an extract.

As that ratification must have been received long since, we may set
the loans actually made in Holland on our credit, at

Three millions of livres, 3,000,000
Those made under the guarantee and on
the credit of France, at 10,000,000
----------
Ten millions of livres, 13,000,000

Our further prospects of borrowing are too uncertain to be stated. As
this is a private loan it is reasonable to suppose, that the clamors
of the public creditors here, when heard in Holland, will have some
effect upon our credit there.

_France._

In France various applications were made, and several grants obtained
previous to the year 1779, though they are not clearly stated, from
the irregular manner in which the books of the Secret Committee, and
the Committee of Foreign Affairs were formerly kept. It appears, that
the whole sum obtained from France previous to the year 1780,
exclusive of one million obtained on a contract for tobacco with the
Farmers-General amounted to nine millions of livres. In November,
1780, Congress applied to the Court of France for an aid of twenty
five millions of livres in money, exclusive of a considerable supply
of arms, ammunition, and military stores, which they declared would
fall short of their wants for the ensuing year without the greatest
internal exertion.

They sent Mr Laurens as a Minister on this special occasion, and in
this year and the year 1781, Congress received fourteen millions of
livres, including the goods and military stores, without counting the
loan opened for the United States in Holland, of which mention is made
before.

But as this sum fell very far short of our wants, Dr Franklin was
instructed on the 8th of February, 1782, to borrow twelve millions o