From Wilhem and Jan Willink, Nicholaas
and Jacob Van Staphorst, and Nicholas Hubbard
Amsterdam 15 July 1794
Orig: via London
Dupl. Sh. Peggy. Elliot
Tripl. Sh. Adrianae. Fitzpatrick
We had the honor to address You the 1st Instant, since when we have received your esteemed favor of 23 May,1 advising you had instructed the Treasurer of the United States, to draw upon us the further Sum of Three Hundred Thousand Guilders, to be paid out of the Proceeds of the last Loan;2 which Bills will meet the usual prompt honor.
We have the satisfaction to announce to you, that the remaining Bonds of the Loan of 1 January 1794 have been undertaken, which may be attributed in a great measure, to the present Circumstances of the War now transferred to our Frontiers, opening the Eyes of and convincing the most prejudiced as well as least informed Persons, of the great superiority of credit the Bond of the United States merit over those of every European State, and which they now enjoy: wherefore, should you in consequence of what we wrote you the 14 January, have lodged eventual orders with us to raise another Loan, It is not impossible but we may succeed to effect it: This, however will materially depend upon the Circumstances, this Country will in future be in.
Not being able to transmit You a more accurate Account of the Progress made in the execution of your order for Saltpetre,3 than is contained in a Letter we write this Day to His Excellency John Jay Esqr. in London, we inclose You a copy4 of same for your Information and government.
We are respectfully Sir! Your most ob: hb: Servants
Wilhem & Jan Willink
N & J. Van Staphorst & Hubbard
Alexr. Hamilton Esqr. Secrety. of the Treasy.
LS, Connecticut Historical Society, Hartford.
1. Letter not found.
2. For a description of the “last loan,” which was the Holland loan of January 1, 1794, see Willink, Van Staphorst, and Hubbard to H, December 27, 1793.
4. On November 14, 1794, Oliver Wolcott, Jr., wrote to Henry Knox: “I have the honour to enclose a Copy of a Letter from our Bankers in Holland to Mr. Jay dated July 15, 1794. which represents a very unfavourable prospect of obtaining any considerable quantity of Salt Petre in Europe.
“The estimate which I enclose of the cost of the small quantity which lately arrived from Hamburgh, proves that the price of this article has enormously advanced in consequence of the War.
“Under these circumstances the expediency of attempting to import from India the quantity wanted by the United States has been suggested. To this measure weighty objections may however occur as the exportation, is said to be prohibited temporarily in all the British Dominions except in the Ships of that Nation.
“If the United States will advance the funds, & run the risques, a mercantile House of well established Credit & information both there & in India, will however make exertions for importing 250 Tons for the use of the Government on the conditions specified in the inclosed note.…” (ADf, Connecticut Historical Society, Hartford.)