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Enclosure B: Government of France Account with the United States, 6 January 1795

B
The Government of France Account Current of Principal With the United States

Dr Cr
Epoch of Septem. 3d. 1794 Livres s. d.
Livres s. d.
To balance due to the United States at the close of the year 1793 exceeding the interest and instslments then due 2 109 974 18 2 By the eighth instalment due on Sept 3: 1794 of the loan of eighteen Millions141 1,500,000
To payments made at the Treasury to may 15: viz By Account of interest, for a balance of interest due on the 3d. of September, on the remaining part of the loan of eighteen Millions 303 406 4 11
April 2 Drs. 350 Balance due to the United States on September3d. 1794 arising from payments exceeding the interest and instalments demandable by France to that period.142 2,199,091 6
may 15 20,000 20 350 @ 18 15/100 Cents 112 121 4 2
To payments at the Treasury on may 20 & June 4. Viz
may 20. Drs 622,81
June 4 50,270 50892.81 @ do 280,401 3 1
To payments at the Treasury from Sept 3: to Oct: 30: 1794 at interest from Septem. 3: when the whole sum was subject to the order of the French minister
Drs. 272,250 @ do 1,500,000
4,002,497 5 5 4,002,497 5 5
Epoch of Novem 4 1794.
To balance due to the United States on Sept: 3. 1794 brought down 2,1199,091 6 By the eighth instalment due on Nov. 4. 1794 of the loan of ten millions143 1 000,000
To payments at the Treasury from Nov: 4 to 13: 1794 to be at interest from Nov. 4 when the whole sum was subject to the order of the french minister By account of interest for a balance of interest due on the 4. of November on the remining part of the loan of ten millions 102 751 16
Dollars 181,500 @ 18 15/100 Cents 1,000,000 Balance due to the United States on Nov: 4: 1794 arising from payments exceeding the interest and instalments then demandable by France 2,096 339 4 6
3,199,091 6 3,199,091 6
Epoch of decem 31. 1794
To balance due to the United States on Nov. 4: 1794 brought down 2 096 339 4 6 By account of interest, for a balance of interest due on the 31: of decem. on the remaining part of the loan of six Millions144 284.379 16 8
Balance due to the United States on decem. 31: 1794 arising from payments exceeding the interest and instalments demandable by France to that period 1,811,959 7 10
2.096.339 4 6 2 096,339 4 6
To balance due to the United States on decem. 31. 1794 brought down 1.811.959 7 10

The Government of France Account Current of Interest With the United States

Dr Cr
Epoch of Septem. 3d. 1794. Livres S. d.
Livres s. d.
To interest on the balance due to the United States at the close of the year 1793 being 2,109,974 livres 18 sous & 2 deniers from Jany. 1: 1794 to Sept: 3d: following is 8 months and 2 days @ 4,706 ⅌ Cent ⅌ Annum being an average of the Interest payable on the French loans when obtained 66.748 11 6 By interest due on September 2d 1794 on 7,500,000 remaining of the loan of 18 000 000 @ 5 ⅌ Cent ⅌ Annum 1 year 375 000
To interest on livres 112 121 42 being payments at the Treasury to May 15. 1794 from may 15: to Sept: 3d: is 3 months and 18 days @ 4,706 ⅌ Cent ⅌ Annum 1,582 18 5
To interest on livres 280 401 3 1 being payments at the Treasury on may 20: and june 4: 1794 from june 4: to sept: 3d: is 2 months and 29 days @ 4706 ⅌ Cent ⅌ Annum 3 262 5 2
To account of principal for the balance of this account 303,406 4 11
375,000 375 000
Epoch of Novem. 4: 1794.
To interest on the balance of principal due to the United States on Sept: 3: 1794 being 2,199,091 livres & 6 deniers from Sept 3 to Nov: 4: 1794. is 2 months @ 4.706 ⅌ Ct. ⅌ annum 17.248 4 By interest due on Nov 4 1794 on 3 000 000 ₶ remaining to that period of the loan of 10,000,000 @ 4 ⅌ Ct. ⅌ annum 120,000
To account of principal for balance of this account 102 751 16
120,000 120,000
Epoch of decem. 31 1794.
To interest on the balance of principal due to the United States on Nov: 4: 1794, being 2,096,339 livres 4 sous & 6 ders. from Nov: 4 to decem 31. 1794 is 1 month and 27 days @ 4 706 ⅌ Cent ⅌ Annum 15 620 3 4 By interest due on decem. 31. 1794 on the loan of 6,000,000 @ 5 ⅌ Cent ⅌ annum 300,000
To account of principal for balance of this account 284 379 16 8
300,000 300,000

Result on January 1. 1795.
The Government of France in Account Current With the United States On January 1. 1795.

Dr. Cr.
Livres s. d. Livres s. D.
To balance due to the United States on january 1 1795 arising from payments exceeding the interest and instalments demandable by France to that period 1.811.959 7 10 By 4 instalments of 1 500.000 livres each on the loan of 18,000,000 which will be due on the 2d. of Sept:145 in the years 1795, 1796, 1797, & 1798 bearing interest from Sept. 3 1794 @ 5 ⅌ Cent ⅌ annum 6 000,000
Balance due to the French Government on 1 Jany 1795 (exclusive of interest on loans ⅌ Credit) 12.188.040 12 2 By 2 instalments of 1 000 000 livres each on the loan of 10.000 000 which will be due on the 4 of Nov: in the years 1795 & 1796 bearing interest from the 4. of November 1794 @ 4 ⅌. Cent ⅌. annum 2,000,000
By 6 instalments of 1 000.000 livres each on the loan of 6,000,000 which will be due in the years 1797, 1798, 1799, 1800, 1801, & 1802 bearing interest from january 1 1795 @ 5 ⅌. Cent ⅌. annum 6,000,000
14.000,000 14,000,000

Comptroller’s Office January 6, 1795
Oliv. Wolcott Compr

141. For a description of this loan, see H to William Short, September 1, 1790, note 17.

142. See “Cabinet Meeting. Opinion on Request for Payment of Installments on the French Debt,” March 11, 1794; Edmund Randolph to William Bradford, H, and Henry Knox, March 13, 1794; Jean Antoine Joseph Fauchet to H, April 21; H to Jean Antoine Joseph Fauchet, May 5, 1794; H to Washington, March 18, April 30, 1794; Washington to H, May 2, 1794.

143. For a description of this loan, see Willink, Van Staphorst, and Hubbard to H, January 25, 1790, note 3.

144. For a description of this loan, see Short to H, November 30, 1789, note 3.

145. This date is incorrect; it should be September 3.

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    Hamilton Papers
    Title
    Enclosure B: Government of France Account with the United States, 6 January 1795
    Author
    Wolcott, Oliver, Jr.
    Date
    6 January 1795

    Reference

    Cite as
    “Enclosure B: Government of France Account with the United States, 6 January 1795,” Founders Online, National Archives, https://founders.archives.gov/documents/Hamilton/01-18-02-0052-0004. [Original source: The Papers of Alexander Hamilton, vol. 18, January 1795 – July 1795, ed. Harold C. Syrett. New York: Columbia University Press, 1973, pp. 132–135.]