1. Congress met on this date, even though the journal omits mention of the session (NA: PCC, No. 185, III, 61).

2. JM Notes, 4 Apr.; 7 Apr. 1783. With approximate accuracy, JM copied the estimate of debt from a manuscript, apparently in Charles Thomson’s hand (NA: PCC, No. 26, fol. 403). A similar analysis, spread on the journal for 29 April 1783, differs considerably, especially in its sections entitled “Domestic Debt” and “Annual Interest of the debt of the United States,” from the corresponding sections in the present notes (JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 286).

3. The “tobacco contract” was concluded in March 1777 by the American commissioners in Paris with “the Farmers General,” the organization that “farmed,” or collected, the royal taxes. In accord with the terms of the agreement, the farmers-general, which also exercised the monopoly over the purchase and sale of tobacco in France, advanced 1,000,000 livres in part payment on 4,000 or 5,000 hogsheads of Maryland and Virginia tobacco. British captures of French and American ships at sea appear to be the main reason why the tobacco failed to reach the consignees (Wharton, Revol. Dipl. Corr description begins Francis Wharton, ed., The Revolutionary Diplomatic Correspondence of the United States (6 vols.; Washington, 1889). description ends ., II, 249–50, 270, 284, 290–91; JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , IX, 983). See also NA: PCC, No. 135, I, 282–87, 137; II, 201; JM Notes, 29 Jan. 1783, n. 17.

4. Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , I, 246, n. 5; II, 60, n. 7; IV, 287; 289–90, n. 4.

5. Ibid., V, 424, n. 9.

6. Ibid., V, 22, n. 4; JM Notes, 19 Mar., n. 2; 26 Mar. 1783.

7. JM Notes, 29 Jan. 1783, and n. 15. A specie dollar was equated with 5.4 livres.

8. Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , V, 424, n. 9; 450, n. 5; JM Notes, 9–10 Jan. 1783, n. 12. JM wrote “Recd. on” because the Amsterdam bankers originally had promised to lend $10,000,000 (Wharton, Revol. Dipl. Corr description begins Francis Wharton, ed., The Revolutionary Diplomatic Correspondence of the United States (6 vols.; Washington, 1889). description ends ., V, 515). One specie dollar was equated with 2.5 florins.

9. Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , V, 21, n. 4; 424, n. 9; Wharton, Revol. Dipl. Corr description begins Francis Wharton, ed., The Revolutionary Diplomatic Correspondence of the United States (6 vols.; Washington, 1889). description ends ., IV, 59, 70, 101, 228, 346, 386; V, 68.

10. Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , V, 451, n. 14. Between “Dutch” and “one,” “loan” obviously should be interpolated.

11. JM should have written “687,828” (NA: PCC, No. 26, fol. 403; No. 137, II, 205; JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 286). For the loan-office certificates and the unpaid interest thereon, see Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , IV, 388, n. 13; V, 294, n. 1; 380, n. 11; JM Notes, 27 Jan., n. 13; 30 Jan., and nn. 4, 6; 26 Feb. 1783 and n. 46.

12. This entry is separated into four categories under the general caption “Liquidated Debt” in a report of 3 March 1783 by Joseph Nourse, register of the treasury (NA: PCC, 137, II, 207).

13. JM Notes, 13 Jan., n. 5; 27 Jan. 1783, n. 13; JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 286.

14. Although neither Robert Morris nor anyone else knew the exact amount of the unliquidated debt, it was assumed to total about this figure. See Randolph to JM, 15 Jan., n. 13; JM Notes, 27 Jan., n. 13; 26 Feb.; 11 Mar. 1783, n. 9; JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 180–81.

15. The “deficiencies” had resulted largely from the arrears of the states in complying with the requisitions of Congress. Although, as compared with the amounts sought in previous years, the $2,000,000 for 1783 was small, five states had remitted nothing by 30 April; and the other eight, a total of only $259,682.78 (NA: PCC, No. 137, II, 455; Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , V, 211, n. 10). At the close of 1782 there had been $7,577,838.27 still unpaid on the requisition of $8,000,000 for that year (NA: PCC, No. 142, II, 159; Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , V, 162, n. 15; 423, n. 2; JM Notes, 27 Jan., n. 12; 30 Jan. 1783, n. 4; Clarence L. Ver Steeg, Robert Morris, p. 136).

16. Both this total and the one immediately above it are accurate, but in checking JM’s addition of the items comprising the latter, his mistake, mentioned in n. 11, above, must be taken into account. In a revised version of this “Estimate of the debt of the U. S.” in the journal of Congress, the following entries were added to the analysis of the domestic debt: “Commutation to the army, agreeable to the act of 22 March last, 5,000,000,” and “Bounty due to privates, 500,000” (JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 286). See also JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 180–81, 207–10; JM Notes, 27 Jan., and n. 13; 29 Jan., and n. 15; 22 Mar. 1783, and n. 3. Acting as agents of Congress in fulfilling its pledge made in the ordinances of 3 and 21 October 1780, the states had paid the money bounty of “not exceeding fifty dollars” to each recruit at the time of his enlistment for the duration of the war (Papers of Madison description begins William T. Hutchinson, William M. E. Rachal, et al., eds., The Papers of James Madison (6 vols. to date; Chicago, 1962——). description ends , IV, 24; 25, n. 3; V, 93, n. 9).

17. In the revised version, mentioned in n. 16, above, the title of this item is “On the foreign debt, part at 4 and part at 5 per cent.,” and the amount, $369,038.6. This correction in the interest reflects, for example, the terms of several contracts made with the court of France and Dutch bankers (NA: PCC, No. 137, I, 11, 18, 163, 166; E. James Ferguson, Power of the Purse, pp. 40–42, 235, and n. 35; Clarence L. Ver Steeg, Robert Morris, p. 137).

18. Six per cent of $28,615,290 is $1,716,917.40. The revised version in the journal consolidates with this annual interest the $300,000 and $30,000 items, thus arriving at $2,046,917.40 as the total yearly interest “On the domestic debt, at 6 per cent” (JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 286). See also n. 16, above; JM Notes, 25 Jan. 1783, n. 11; JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 207.

19. JM Notes, 1 Apr., and n. 10; 4 Apr., and ed. n.; 7 Apr. 1783. If the purpose of Alexander Hamilton and William Floyd was to gain a reduction in New York’s quota of $127,500 as recommended by the grand committee, they were unsuccessful, for that quota was increased to $128,243 before Congress adopted the allocation schedule on 18 April 1783 (JCC description begins Worthington Chauncey Ford et al., eds., Journals of the Continental Congress, 1774–1789 (34 vols.; Washington, 1904–37). description ends , XXIV, 259).