Thomas Jefferson Papers

To Thomas Jefferson from Jean Baptiste Ternant, 9 February 1793

From Jean Baptiste Ternant

Philadelphie 9 fevrier 1793

J’ai l’honeur d’envoyer à Monsieur Jefferson le tableau de notre créance, ainsi que l’extrait qu’il a desiré à ce sujet. Il verra que l’exposé de notre Ministre des contributions correspond assez avec celui de Monsieur hamilton; mais que les remboursemens ont eté faits jusqu’ici en valeurs nominales, et sans egard à la compensation promise par la lettre que Monsieur Jefferson m’ecrivit le 1r. Sepe. 1791 et qu’en ajoutant même aux payemens faits en Europe, les avances fournies ou à fournir encore ici, il en resultera à peine une extinction complette de l’exigible jusqu’à ce moment.

Ternant

RC (DLC); endorsed by TJ as received 10 Feb. 1793 and so recorded in SJL. Enclosures: (1) “Tableau redigé en decembre 1789. de la créance de France, sur les Etats unis. Avec la diminution graduelle des interets en raison des remboursemens, conformément aux contrats Signés le 16 Juillet 1782 et le 25 fevrier 1783,” n.d. (MS in DLC: TJ Papers, 70: 12234, endorsed by TJ: “Ternant”; PrC of Tr in same, 82: 14226–7, in a clerk’s hand, with note at foot of text by TJ: “Feb. 1793. given in by Mr. Ternant to Th:J.”). (2) Extract of Clavière to Lebrun, 10 Sep. 1792, summarizing Enclosure No. 1 and concluding that the United States remained in arrears in its debt to France, even if the calculation was made in depreciated money, and was much further behind if it chose to be just and compensate for the depreciation (Tr in Ternant’s hand, on verso of MS of Enclosure No. 1, same, 70: 12333; PrC of Tr in same, 77: 13370).

TJ submitted a text of the enclosures on the American debt to France to the President in a letter of 14 Feb. 1793 as part of his effort to win approval of Ternant’s request to use the debt to purchase provisions for France in the United States. Washington in turn sent it to the Secretary of the Treasury on the following day (Washington, Journal description begins Dorothy Twohig, ed., The Journal of the Proceedings of the President, 1793–1797, Charlottesville, 1981 description ends , 54; Ternant to TJ, 8 Feb. 1793, and note). For Hamilton’s statement on the current status of the American debt to France, see his 3 Jan. 1793 report to the House of Representatives on foreign loans in Syrett, Hamilton description begins Harold C. Syrett and others, eds., The Papers of Alexander Hamilton, New York, 1961–87, 27 vols. description ends , xiii, 453–4.

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