his anticipation was never realized, as the whole amount of the
Spanish loan to the United States during the war, was no more than one
hundred and fifty thousand dollars.

[36] For several letters from Mr Morris to Mr Jay, on the subject
of loans in Spain, and the National Bank, see _John Jay's
Correspondence_, Vol. VII. pp. 421-449.

* * * * *

TO ROBERT SMITH, AGENT FOR THE UNITED STATES IN CUBA.

Philadelphia, July 17th, 1781.

Sir,

Upon a proper representation of your character, situation, and
attachments to your country and its cause, the Congress of the United
States of America have thought proper to appoint you their Agent at
the port, of Havana and Island of Cuba. I take much pleasure in
transmitting your commission, which you will find enclosed herein;
because my knowledge of you leads me to expert every exertion, which
your situation and the circumstances attending it will admit of, in
favor of your country.

You will not find any salary annexed to your appointment for this
plain reason, that we cannot afford any. It is our present business to
reduce salaries heretofore given, and not to create new ones. This
appointment, however, may be attended with pecuniary advantages,
because a public character may, and no doubt will, point you out to
American merchants as the proper person to intrust with their
commercial affairs. Continental prizes and other objects may
occasionally turn up, which will leave a reasonable commission behind;
and you will have the pleasure of serving Congress when necessary, and
the citizens and commerce of your country, as often as opportunities
for so doing may occur.

I shall now put your talents to the proof. You will find enclosed a
letter I have written for his Excellency Governor Navarro (or should
he be gone, for his successor) which will unfold to you very fully my
intentions. You will find enclosed in it for him, as in this letter
for you, the plan of a National Bank, which I have proposed to
establish for many valuable purposes. You will observe that the sum
proposed as a capital is far short of what it ought to be; but I was
afraid of attempting too much at first, and must now endeavor to
increase it by other means. If any of your acquaintances in the Havana
have a mind to speculate in the American funds, I think they cannot
place their money on a more secure or profitable establishment.