From Alexander Hamilton
Treasy Departt April 30. 1794.
Inclosed I have the honor to send you the translation of a letter from Mr Fauchet, of the 21st instant.1
The arrangements of the Treasury have been taken so as to correspond with the epochs of promised payment. But I entertain no doubt that I can facilitate an arrangement between the Bank & Mr Fauchet which will accomplish in substance the object of his letter.2 I did not think it proper, however, to take any definitive step without previously placing the subject under the eye of the President.
The Minister is desirous of securing an additional sum for satisfying two drafts of his predecessor, which he specifies. It will be within the compass of our means to perform this also. But it is not within the limit heretofore prescribed and it includes besides considerations which are proper only for the decision of the President.3 With perfect respect &c.
1. The enclosed translation of Jean-Antoine-Joseph Fauchet’s letter to Hamilton of 21 April has not been identified. For the French version, see Hamilton Papers description begins Harold C. Syrett et al., eds. The Papers of Alexander Hamilton. 27 vols. New York, 1961–87. description ends , 16:303–4. The French minister requested Hamilton to arrange the payment of 2.5 million livres due France according to an enclosed schedule that would coincide with the dates when Fauchet needed the money to meet his expenses. The schedule proposed a payment of $70,000 on 15 May and additional payments of between $30,000 and $38,000 on the first and fifteenth of each month until 1 Nov. (FrPMAE: Correspondance Politique, Etats-Unis, Supplement Volume 20). On the previous arrangement to pay this money on 3 Sept. and 5 Nov., see Cabinet Opinion, 11 March, and n.2 to that document, and Hamilton to GW, 18 March.
2. In his reply to Fauchet of 5 May, Hamilton suggested that the minister could obtain his desired “anticipation of the payments” through the Bank of the United States (Hamilton Papers description begins Harold C. Syrett et al., eds. The Papers of Alexander Hamilton. 27 vols. New York, 1961–87. description ends , 16:377–78).
3. Fauchet asked for additional funds to pay for two debts incurred by his predecessor, Edmond Genet, for $20,000 and $50,270. On the previous refusal of the Treasury Department to honor Genet’s drafts, see Hamilton to GW, 4 January. For GW’s approval of making the payments to Fauchet, see his letter to Hamilton of 2 May.