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Lovell, James (1737-1814) to Samuel Holten

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Gilder Lehrman Collection #: GLC01450.020.08 Author/Creator: Lovell, James (1737-1814) Place Written: s.l. Type: Autograph letter signed Date: 5 December 1780 Pagination: 4 p. ; 24.5 x 20 cm. Order a Copy

Recipient inferred from content (also, handwriting on the docket matches that on other letters). Signed with initials. States that he received his letter. Remarks that he will not send him all the bad news that has come to him since the recipient suffers in mind and body. Prompts him to read the Epistle of Bush to Shippen because the writer criticizes Lovell in it. States that Mr. Adams (John Adams) has defended the resolution of March 18 against the opinions of the Count de Vergennes (Charles Gravier) of France. On March 18, 1780 the Continental Congress had passed a resolution that states Continental dollars will be accepted at a rate of 40:1. He states "That France is as much benefitted by trading with us as we are by trading with her." He then discusses currency rates, trade with France and England, and gaining and preserving credit abroad.

Lovell and Holten were Continental Congressmen from Massachusetts.

Decr. 5. 1780.
Dear Sir
Your favor of Nov 16th. with a Gazette reached me yesterday.
You suffered so much in your mind & Body when here that I will not send you any of the ill Pictures which with various Signatures come daily on to our Table.
I hope you will find much Satisfaction in the short Letter from Genl. Gates. Wemyss was a very valuable officer to the Enemy.
You may amuse yourself also as one of the medical Class by reading the Epistle of Rush to Shippen in which you will find the Writer has relieved himself a little upon me. Shenstone's Benevolence made him wish that he could afford to have his Pockets picked frequently. I feel [2] a portion of his Spirit operating upon me at this Time; When I see poor Rush swelled near unto Bursting, I cannot doubt but that he finds some Relief by throwing about his Slaver and Froth, therefore when it falls upon my Cloaths I slight the Injury because he finds so much Ease in his terrible Case.
I have said to some of you my Friends last Week that Mr Adams had in a masterly & Independent stile defend [sic] the Resolves of March 18. against the opinions of Count de Vergennes.
He showed that the true value of our Paper was its current Rate. That the public Faith which is said to be broken is a mutual Contract between the public and the Individuals who compose it, That either may break it the Public by not paying the promisory Note when it has had an equivalent or the Individual by not giving that [3] Equivalent when he takes the Note. That Government will wrong the Public by paying off Notes, current at 40 for 1, by 40 hard for 40 paper as much as if they paid 40 hard for 1 paper when the Emission was current at par.
He says no Distinction can be made between Frenchmen & other Foreigners or between any Foreigner and native Citizens. That all Foreigners become temporary Citizens. That they made such Profits as to be able to lose 3 Ships in 5-- and this he proves by the prices of purchases and Sales. That they run no more Risk of Sea & Enemy than [inserted: the] Natives did in Trade. That France is as much benefitted [sic] by trading with us as we are by trading with her. That the merchants of England had much more due to them when Mass. called in a Currency at 7 ½ and that the King ever partial to his own Subjects in England against those in America would not have confirmed the Law of Mass: if both he & his Council [4] had not thought it just in Regard to the british as well as wise in the Americans-- That France will doubtless form the same Judgement [sic] upon the present measures when she is as fully informed. That he (Mr. A.) cannot attempt to persuade Congress to alter a Resolve the Wisdom and Justice of which has the fullest approbation of his own Judgment and his most cordial Wishes for its Success; That as a plain and candid answer to a Question, he must say he thinks such Proceedings the only Way to gain & preserve Credit abroad because they discover Wisdom Justice & also Vigor in the American Governments.
I have injured his long Letter by these Extracts, but I give you and other friends some Satisfaction.
yr. affectionate
JL

Lovell, James, 1737-1814
Holten, Samuel, 1738-1816
Adams, John, 1735-1826

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