The Marquis De La Fayette in the American Revolution. With Some Account of the Attitude of France Toward the War of Independence 2
The Marquis De La Fayette in the American Revolution. With Some Account of the Attitude of France Toward the War of Independence 2
Charlemagne Tower
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Congress asks 1781.] AMEBICA APPEAU3 FOE MORE AD). 279 the King to lend it twenty-five millions, that is to say, that His M^esty shall guarantee a loan to that amount ; but if the King were to accede to this request the effect would not be what is hoped 5 because Congress cannot expect to borrow npon the same terms as the King, and if His Msgesty should assume this loan upon his own account he would exceed the aggregate of funds available for this sort of transactions, and the result would be a...n advance in the rates of money. ^'The moment this urgent necessity and this great lack of money became known, confidence would be destroyed in regard to the loans of the King as well as to those for the Americans, our credit would fell, and we should be without resources both for our own needs and for those of our ally. All these dif&culties having been duly considered and thoroughly discussed in several committees, it was the unanimous opinion that the loan asked for by the Americans should not be authorized in France.
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